Monday, October 29, 2012

#MOSen: Claire McCaskill has Sold Out Missouri

The transcript of the Todd Akin ad above is hard hitting. I've added links so you can review the facts:
It's been revealed, Claire McCaskill's husband was caught cutting business deals in the Senate dining room, selling tax credits tied to Obama's stimulus money, money Claire McCaskill voted for. McCaskill uses her position and power to cash in. It's no surprise that McCaskill thinks she's above the law, she didn't pay her taxes but voted to raise ours. The arrogance and corruption of Claire McCaskill. Dealing herself in. Selling us out.
Just last week, the National Legal and Policy Center identified $20 million dollars in stimulus funding that McCaskill voted to send to her husband's businesses. That's in addition to the $40 million of stimulus identified earlier this month.

Claire McCaskill and her husband, Joseph Shepard, profiteer off public programs that are suppose to help the poor. The website for Shepard's company, Sugar Creek Realty, LLC, claims that they've facilitated $315 million in tax credits for a "representative" set of affordable housing projects--not the full project list. Shepard's businesses syndicate those tax credits for their clients. Assuming that they make a gain of 10% to 25% in tax credit arbitrage, Shepard's companies have realized $31 million to $79 million in revenue from just those representative projects.

Having bought Shepard a private portfolio of "affordable" housing with your tax dollars, you now get to subsidize the unearned income McCaskill and Shepard realize on that portfolio. At a minimum, they receive $2.2 million each year in rent and interest on security deposits from those privatized, publicly financed assets.

While their portfolio expands, while their bank accounts swell, you get stuck, not just with the bill, but with the debt. Before Claire McCaskill was elected to the US Senate, we did not have trillion dollar deficits. The fiscal recklessness of McCaskill in conjunction with her aparent self-dealing of stimulus funds, is a damning indictment of her tenure in the US Senate and reason enough to bring her home.

No comments: