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Location: St. Louis, Missouri, United States

Friday, August 19, 2011

Rick Perry Living Off the Land

Timothy Birdnow

Rick Perry made millions on real estate transactions while Governor of Texas.

Perry flipped property, buying from friends and selling to friends and associates. This may be innocent enough; a sharp businessman with a talent for making money, but it certainly has a bad odor about it.

From the article:

"Texas Governor Rick Perry, who has never been paid a government salary of more than $150,000, became a millionaire while in public office through well-timed sales in the Texas real estate market.

The Republican presidential hopeful bought property from friends and political allies and sold to Texas businessmen, such as computer magnate Michael Dell, and in the process made more than $1 million. Perry’s income also was supplemented by stock sales, according to his tax returns and county land and tax records."

End excerpt.

Now this is hardly evidence of dirty dealings; the Obama family home in Chi-town deal had a far worse smell. Still, one wonders, and if a conservative wonders what must a liberal do? Of course, the Left attacks those they fear, and it may be they fear Rick Perry and so a person ostensibly writing a real-estate piece in a trade publication may well do a hatchet job, but it is still a point to ponder.

The deal that's likely to make the papers is this:

"A year later, the governor saw an even bigger real estate payoff when a lot he purchased in August 1993 was sold for a gain of $343,000, according to his tax returns. Mike Toomey, a former Republican state representative, was given power of attorney to complete Perry’s purchase of the land. Toomey served as Perry’s chief of staff from 2002 to 2004 and is now a Texas lobbyist.

The property was sold to Dell, the chief executive officer of Dell Computers, who needed the land to access public sewer lines for his adjacent property."

End excerpt.

This deal is disquieting because it suggests a campaign contribution by way of a land purchase.

This will be an issue as Perry makes headway in the GOP race. Stay tuned!

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