Posted on 10/10/2007 4:42:36 AM PDT by kristinn
SNIP
The onslaught began over the weekend, a week after 12-year-old Graeme Frost delivered the Democrats' weekly radio address with a plea to Bush to sign the bill. A contributor to the conservative Web site Free Republic noted Graeme's enrollment in the private Park School and the sale of a smaller rowhouse on the Frosts' block for $485,000 this year and questioned whether the family should be taking advantage of the state program.
SNIP
The Frosts say the description of their family's circumstances now circulating is misleading. Halsey, they say, is a self-employed woodworker - he has no employees - while Bonnie works part time for a medical publishing firm. Together, they say, they earn between $45,000 and $50,000 a year.
That would make the Frosts eligible for Maryland's Children's Health Program, which is open to families that earn no more than 300 percent of the federal poverty level, or $82,830 a year for a family of six.
The Frosts declined to show The Sun their 2006 income tax returns...
SNIP
Halsey Frost purchased the family home for $55,000 in 1990, according to city records, and refinanced in 2005, he says, to make improvements to accommodate the return of Graeme and Gemma from the hospital. The 1936 brick rowhouse, on a side street near Patterson Park, has an assessed value of $263,140.
Halsey Frost purchased a 1920 warehouse in East Baltimore for $160,000 in 1999, according to city records. It is assessed at $160,500. Frost says he is still paying off the mortgages on both properties.
The four Frost children depend on financial aid to attend private school, the Frosts say. In addition, they say, Gemma receives money from the city for special education made necessary by her injuries.
(Excerpt) Read more at baltimoresun.com ...
ping
>> and live in that neighborhood <<
THAT neighborhood is no great place to live. It’s become more gentrified in the last couple of years, but I wouldn’t live there with my family.
What parent would put their kid out there....tell all about their finaces....be PROUD they are sucking off the taxpayers. and tell this stuff to all the WORLD??? Egads.
And on other threads, it was noted that the paternal grandfather owned a prominent Manhattan architecture firm (ie, it looks like the grandparents on both sides are probably wealthy, and the couple probably have trust fund income in addition to their low official salaries
BEFORE
The Democrats chastised other people who publicized the Frosts' financial situation
Anyone who owns his own business who claims 50,000 probably has every restaurant, every mile, every piece of equipment, every phone, every piece of paper, etc., etc., coming off as a business expense.
In short, that’s 50,000 after most everything else has been paid, and that would certainly include the 160,000 dollar warehouse cost.
That says it all for me. These people need to be investigated by the Feds.
"The four Frost children depend on financial aid to attend private school, the Frosts say."
Well that vague answer answers nothing.
“How does one pay the mortgages on 160,000, and whatever the refinance of their home on such a low income?”
Maybe “Tax Credits” for each child?
The Frosts declined to show The Sun their 2006 income tax returns...
One of the "nice" things about being a landlord and having an LLC, of which you and your spouse are the only officers, is that you can make a moderate "income" and pay Social Security, Medicare, Medicaid, etc. up to a certain maximum, and then take all the rental revenue but not claim it as income and not pay those things.
IOW - The Frosts can show their meager W-2's but that is NOT the whole story. So their Form-1040's are off limits.
Wrong. You can sustain brain stem injuries even while wearing a seat belt - car stops while doing 60mph, head keeps travelling ... unless you know of a seat belt that restrains the head.
Remember, the back seats typically don’t have airbags.
A mortgage on $160,000 is around $900-1,000 and up depending on what interest rate. So that is $1,800-2000 and up a month or $21,600-24,000 per year. Wow, no wonder they need the medical help. /sarc off
AMEN.
I wonder why the grandparents didn’t, at least, step in to help their naive children get a loan.
What about the cranial fracture?
Five will get you ten that the Frosts == husband and wife == are trustfund babies.
The schemes to restore the so-called Fairness Doctrine and regulate the Internet are of key importance to the liberals. No doubt the faux conservatives on FR feel likewise, especially the ones who regularly bash NewsMax or World Net Daily and would rather rely on the centrist Fox News or the outright liberal networks and old line daily newspapers like The New York Times and the Washington Post.
“”The four Frost children depend on financial aid to attend private school, the Frosts say.”
Well that vague answer answers nothing.”
- I believe that the tuition at the private school the two children attend is $20,000. per year, per child. Of course, the Frost’s may be having some government program cover this by claiming that the children’s car injuries are so severe that they need special education at a private school but, who knows?
IF the family is only paying $500.00 a year for the boys $20,000.00 year school, then WHO is paying the rest??? The Grandparents?? A Benefactor?
Them you have to add taxes and insurance, and probably other cost like association fee, etc.
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