Posted on 05/21/2015 8:23:45 AM PDT by SeekAndFind
A top contender for the Republican presidential nomination cashed out his retirement savings to pay some nagging bills for a broken refrigerator, air-conditioning unit, and his kids' private-school tuition.
According to The Washington Post, Sen. Marco Rubio (R-Florida) sold $68,241 worth of retirement funds in September after bills began piling up at home.
It's a risky move since it incurs a significant tax penalty.
“It means that he is probably on some level living above his means, because he is borrowing against his future,” Boston University economist Laurence Kotlikoff told The Post.
When asked about his finances on Fox News, Rubio blamed the high costs of running for president as well as expensive and unforeseen family costs.
(Excerpt) Read more at businessinsider.com ...
I truly think Jebbie is toast. He only has polled as well as he did because “Bush” was a name low info voters recognized. Jeb is wrong on the issues and I don’t know a soul who is supporting him. Columba is also a minus. I don’t think folks will like that she was “torn” about becoming an American citizen and only did so to vote for her father in law. Definitely not First Lady material.
This family needs to move to Mexico, seriously.
This is nothing new for Rubio. When he was in the FL house he got called on the carpet for using a state GOP credit card for an awful lot of questionable items.
Now he can hold up one of those “I am part of the 99%” signs.
Rubio sells his own property and a Boston University economist tells us Rubio is living above his means.
Hildabutchbitch sells out the country on multiple levels and no one in the media nor academia cares. Sigh.
He has had a history of being unable to handle his own finances. Why should we trust him with the nations?
That’s beside the fact that he wants to abandon the rule of law and “Comprehensively Screw Americans Out Of Their Country” with amnesty for fraudulently documented foreigners.
I fix refrigerators for a living. Built-in high end units can run $10,000 to replace and can cost $3,000 to repair.
I run calls everyday in people’s homes who have $1,000,000 houses that are empty of furniture and can’t pay for repairs because they are living above their means.
Some people want the status without having the income to support the show.
I’m no fan of the Rube, but it sounds like his family finances are just about like most others right now, with Obama’s economic wrecking ball wreaking havoc throughout the country.
Agreed. At least he’s honest and not a crook like most of the hacks in the GOP-E and Rat establishments.
Bogus article alert!
Rubio made it clear this was only ONE of THREE or more Retirement accounts.
Oh grow up!
REPLACING A Counter depth, French door fridge easily runs 3 grand.
This was one of 3 or more retirement accounts AND his income from book sales is significant.
Perhaps you’re unfamiliar with Senate retirement plans?
Rubio collects a salary of $174,000 per year, guaranteed for LIFE, and he pulled money out of a retirement fund?
What the hell does he need a retirement fund for?
yep. Im not a Rubio supporter either. Its his money and then again this may be a false report too. Lets see what happens.
Rubio is a politician.
He has lifetime access to enormous amounts of money.
Maybe he should be taking money under the table like all the other politicians.
Under scrutiny, I'm certain we can and will destroy EVERY candidate we have.
This is now political discord? A debt with 20% interest costs a hell of a lot more than a retirement fund earning 2% interest. Not all of us can be gigilos and marry a billionaire ketchup heiress.
Rubio is NOT a conservative.
I’m not a Rubio supporter, but to me this is evidence that he has not sold out for money. It sounds like he is trying to live his life and run for president on a Senator’s income. He is apparently NOT a member of teh Millionaire’s Club like John Kerry, Harry Reid And Elizabeth Warren are.
With an annual ncome of over $200,000, he ‘s very fiscally responsible to have to do that. Also shows he doesn’t know zipnabout retirement finance because that money would have doubled several times before he retired, and what about a $3,000 refrigerator when a perfectly good one can be had at Lowes for about$1,200.
The writer of this hit piece is:
Before joining Business Insider, Maxwell covered politics for the Huffington Post, and helped produce the Working podcast for Slate. He’s also written about music for Washington City Paper.
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