Romney to quadruple La Jolla home size

San Diego Tribune ^ | 8/20/11 | Christopher Cadelago

[10thAmendmentGuy]

I’m curious where all that money comes from. He doesn’t work for a living. Did he inherit wealth? (I know George Romney was his father)

. I detest Mitt Romney but he did not inherit the majority of his wealth. While George Romney was indeed his father, Mitt Romney was involved in Bain Capital which specialized in the streamlining (break-up) of companies into more profitable entities. He turned around Staples. That's where most of his wealth comes from.

He is easily confused with Donald Trump, because Donald Trump, who did inherit tens of millions, is also a liberal-turned-conservative politician.

[bigheadfred]

He’s a highly accomplished businessman. “Indeed, during the 14 years Romney headed the company, Bain Capital’s average annual internal rate of return on realized investments was 113 percent.” Wikipedia.

[pugmama]

why all the criticism of a guy investing in land and building a nice home

Have to agree with you W.J.....some of you should be over at DU. You sound jealous of his success.
It’s his money, not yours that he is spending.

[dfwgator]

“Indeed, during the 14 years Romney headed the company, Bain Capital’s average annual internal rate of return on realized investments was 113 percent.”

He invested in cattle futures?

[Tea Party Terrorist]

Doesn’t Romney buy the global warming nonsense? If he really believed it, why would be buy coastal property which will just be swallowed up by rising sea levels?

[10thAmendmentGuy]

I’m not going to criticize him for this. While it might seem gaudy to some, he’s spending his money in the economy. Even if he was building the addition with his bare hands, he’d still not to buy the supplies to do so, which I’m sure the stores would appreciate. But he’s not building it with his bare hands, so the contractors that he hires to do the addition will undoubtedly need to hire quite a few people to do the construction, plumbing, weldnig, etc., and all of those workers will spend the money they earn, so this is hardly a bad thing. It’s not like the construction industry is flooded with jobs right now.

[blue state conservative]

Exactly, at the left-wing sites they will tell you the rich hoard their money and don’t do anything to help the economy.

At least he is building it with his own money, unless the Clintons who have “friends” build it for them.

[JustaDumbBlonde]

So? Who cares if the man spends his money on a big house?

[bigheadfred]

He invested in cattle futures?

And that is why he is so good with the bullshit.

[radioone]

Mitt spent 35 million of his own money in 2008 on his campaign.

Building that home at this time is just more fodder for the liberal press and is not a wise decision.

[RVN Airplane Driver]

Won’t make much difference...he has about as much chance of getting the nomination as a zero getting re-elected. Perry will run away from the crowd unless Palin gets in and I doubt that she does. She’s a smart girl and knows her negatives are very strong in some key states.

[DaxtonBrown]

[why all the criticism of a guy investing in land and building a nice home

Have to agree with you W.J.....some of you should be over at DU. You sound jealous of his success.
It’s his money, not yours that he is spending.]

No one questions what he is doing with his money, just don’t try to tell us he is “a man of the people”. Being tone deaf isn’t something I like to see in a presidential candidate. If being a rich guy was a qualification for president, either Warren Bufet or Bill Gates would be the pick.

[Winstons Julia]

Who said he’s a “man of the people”?

Is he campaigning as a “man of the people”?

Was Obama a “man of the people”?

He’s a wealthy politician who has bought land and wants to build a house. So what?

[smokingfrog]

3,000 sq. ft. is a “quaint bungalow” in La Jolla.

[achilles2000]

Is it possible he doesn’t WANT to be President? What a tin ear.”

This is the real issue. Meme from MSM: wealthy and out-of-touch country club twit.

[hinckley buzzard]

Romney is a principal in an investment firm. He makes money the old-fashioned way--use OPM and take the profits.

[ken5050]

Architects have included space for the USSS and other security measures..and then Mitt will pull a Biden and “rent” it to the US government..

[KarlInOhio]

I'm glad he did it now when he can be pounded on it in the primary rather than waiting to sabotage himself with it in the general election. It's his money and he has the right to do it, but it comes off as tone deaf to the populist political climate as a Martha's Vineyard golf vacation.

[hinckley buzzard]

Right. He will provide work for various tradesmen for some time.

[10thAmendmentGuy]

This is exactly what Warren Buffett should be doing, for example, instead of calling for marginal tax rates to be raised. These are taxes that he won't pay anyway, because most of his income is going to charitable trusts or tax-exempt bonds. If Buffett really cares about the poor, which he purports to, then why doesn't he build some houses for homeless people? He can calculate the money he would have owed the federal government after his proposed income tax increases, and arrange the construction of houses for homeless people. Or if he wants to improve education, he can volunteer to pay for the private school or college tuition of young people that cannot afford it.

This is not what Buffett wants to do, however. He wants to pretend that he actually cares because he knows that even if most of his income was in fact subject to federal income taxes, that Congress isn't going to pass any tax increases right now. Thus, Buffett gets to pontificate to the NY Times about how much he cares for the plight of the poor and the unfortunate, while simultaneously doing nothing to help alleviate their plight.

I don't like Romney. I think he is a RINO of the first order, but at least he is putting his money where his mouth is when it comes to stimulating the economy.