How did Jeb Bush only make $4.57 in interest income in 1981?

[SivaGanesha 2]

So Jeb Bush has released 33 years of tax returns which he claims is the most any presidential candidate has ever released:

Jeb Bush for President | My Career: Through 33 Years of Tax Returns

But if you look at the very first line of the very first return, there is something fishy going on. He reported just $4.57 in interest income in 1981. But interest rates were astronomical in 1981 (unlike today): something like 20% or so. Interest income of $4.57 would imply he only had about $25 or so in the bank. Even if he wasn't quite as wealthy back then--and even if most of his money was invested rather than in a savings account--something isn't right with that number. In 1981, I would have expected even a welfare recipient to have far more in interest income than that.

"It's hard to have fun at 4-way unless your whole team gets down to the ground safely to do it again!"--Northern California Skydiving League re USPA Safety Day, March 8, 2014

[normiss 854]

I'd be amazed to see a homeless person with any interest to report.
I learned a long time ago to not be surprised at anyone's financial status.

[SivaGanesha 2]

normiss

I'd be amazed to see a homeless person with any interest to report.

True but I said "welfare" not "homeless". Usually you need to have some kind of a home to qualify for welfare. Plus I believe there were a lot fewer homeless people in 1981. Even if they were living welfare check to welfare check--which I assume most were--they'd accumulate far more than $5 in interest at 1981 interest rates.

"It's hard to have fun at 4-way unless your whole team gets down to the ground safely to do it again!"--Northern California Skydiving League re USPA Safety Day, March 8, 2014

[CanuckInUSA 0]

SivaGanesha

I believe there were a lot fewer homeless people in 1981.

What do you know about 1981? Were you even around? 1981 was the year I graduated from High School and of course in 1981 I felt I knew everything I needed to know about the world. Of course in retrospective I was massively mistaken in that regard. Anyway yes in 1981 interest rates where extremely high. Good if you had money in savings, bad if you had debt. 1981 was also a year when a massive recession hit North America and as a result in 1981 there was extremely high unemployment. People lost their homes because they could not afford the payments thanks to high interest rates and no job.

I am sure there is an explanation for Jeb Bush's small $4.57 interest income in 1981. I am sure it is something along the line of "He just did not keep a whole lot of money in the bank, and that any money he did have, was tied up somewhere else that did not earn interest income". If you knew anything about 1981, you would know that it was challenging times, where there were just as many unemployed people as there are today. But I am sure you could care less about anything like this. You have an agenda here and nothing will stop you from pushing this agenda. Looking forward to the thread you start detailing the financial status of Billary in 1981. That should be entertaining.

Try not to worry about the things you have no control over

[coozer 0]

Quote

I am sure there is an explanation for Jeb Bush's small $4.57 interest income in 1981. I am sure it is something along the line of "He just did not keep a whole lot of money in the bank, and that any money he did have, was tied up somewhere else that did not earn interest income".

This is the son of George HW Bush and the grandson Prescott Bush. The bush family and it's fortune has been described as a dynasty.

I do not buy that for a minute. The grandson of the guy that made 'an absolute killing' during world war 2 and from a long line of bankers and influential politicians is not to be compared to the average joe.

I am sure this will be scrutinised and any sort of lies will be made up to make it look normal.

The fact that the Bush family have the audacity to present yet another member to the 'throne', quite clearly shows that america has well and truly gone full retard.

[rehmwa 2]

SivaGanesha

He reported just $4.57 in interest income in 1981. But interest rates were astronomical in 1981 (unlike today): something like 20% or so. Interest income of $4.57 would imply he only had about $25 or so in the bank. Even if he wasn't quite as wealthy back then--and even if most of his money was invested rather than in a savings account--something isn't right with that number. In 1981, I would have expected even a welfare recipient to have far more in interest income than that.

1 - I doubt most welfare recipient tax returns show any interest income

2 - if Jeb invests correctly, it's likely most (all) of his income is dividend and other types of income other than interest. likely checking accounts are not interest accumulating, and that $4.57 is exactly what you think it is, it's the Minimum deposit required to open that savings account required to bank at a single location, probably for the purpose of being able to establish the (non-interest bearing) checking account for small transactions.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[normiss 854]

Yup, my bad. Trying to post and reference the OP on my phone was pure idiocy.


Using your word, the point stands, which was my intent.
On welfare, likely not gonna have interest income to report.

[Elisha 1]

Seems plausible.

Look at his wiki - just started a real estate job in 1980 (when in that year? Maybe the end?) and also as an unpaid volunteer for his dad (GHWB).

Also, seeing that he had nearly $800 that year in Dividends and some capital gains, questioning the $4.57 is nitpicking.

There's plenty of reasons to not vote for him. This is kind of a yawner.

[SivaGanesha 2]

CanuckInUSA

I am sure there is an explanation for Jeb Bush's small $4.57 interest income in 1981. I am sure it is something along the line of "He just did not keep a whole lot of money in the bank, and that any money he did have, was tied up somewhere else that did not earn interest income".

We are veering off topic here. My only "agenda" is to understand how a guy with money managed to accumulate only $4.57 in interest in 1981. He obviously had an interest bearing account or the number would be zero. Even minimal bank deposits would result in more interest than that.

"It's hard to have fun at 4-way unless your whole team gets down to the ground safely to do it again!"--Northern California Skydiving League re USPA Safety Day, March 8, 2014

[SivaGanesha 2]

Elisha

Also, seeing that he had nearly $800 that year in Dividends and some capital gains, questioning the $4.57 is nitpicking.

I don't feel that it is nitpicking because I feel he has chosen to draw attention to his old tax returns by posting them online and boasting that he's posted more tax returns than any other prior presidential candidate. Why would he have posted them if he didn't want people to look at them and ask questions?

"It's hard to have fun at 4-way unless your whole team gets down to the ground safely to do it again!"--Northern California Skydiving League re USPA Safety Day, March 8, 2014

[rehmwa 2]

SivaGanesha

***Also, seeing that he had nearly $800 that year in Dividends and some capital gains, questioning the $4.57 is nitpicking.

I don't feel that it is nitpicking because I feel he has chosen to draw attention to his old tax returns by posting them online and boasting that he's posted more tax returns than any other prior presidential candidate. Why would he have posted them if he didn't want people to look at them and ask questions?


I'd probably worry more about those that refuse (or are initially reluctant) to post their returns on line than the guys that volunteer to do it.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Anvilbrother 0]

Its a conspiracy, you caught the tater, congrats.

Postes r made from an iPad or iPhone. Spelling and gramhair mistakes guaranteed move along,

[normiss 854]

"With money" now, today, in this time.
34-35 years ago???
The way he filed his taxes, he paid more than he should have on numerous years as well.
Took a LOT of capital losses, appears he really didn't make much money for a long time.

I see nothing noteworthy to me, but I can't believe it appears that I'm defending a Bush.
Given his performance as Governor here, we would be insane to vote for him.
Almost as insane as voting for either side of the two party system to me.

[CanuckInUSA 0]

normiss

I can't believe it appears that I'm defending a Bush.

You are defending him because you know there is an explanation how someone of wealth can still only accumulate $4.57 in interest income.

I say "No" to the Bush family. "No" to the Clintons, no to the "Kennedy" clan. I say "No" any of the career politicians. Unfortunately they all all career politicians and it does not matter what side of the fence they are on. They all suck.

Try not to worry about the things you have no control over

[CanuckInUSA 0]

coozer

The fact that the Bush family have the audacity to present yet another member to the 'throne', quite clearly shows that america has well and truly gone full retard.

Yes I agree America is going retard to support another Bush. But wait a second, where is the same outrage that America has gone retard in supporting Billary? Anyone who supports the Clintons are just as retarded as those who support the Bush clan.

Try not to worry about the things you have no control over

[rushmc 23]

Quote

but the Associated Press did the legwork and reports that Bush “paid an effective federal income tax rate of roughly 36 percent in the past three decades and made roughly $27.7 million in total income between 2007 and 2013. By comparison, the Clintons' earnings exceeded $30 million combined in speaking fees and book royalties between January 2014 and May 2015, according to a personal financial disclosure Clinton filed earlier this year. In that time, the Clintons paid a tax rate of more than 30 percent.” Yes, Bush is wealthy, but it turns out Clinton is even wealthier. The least she could do is give more to Uncle Sam than her less “truly well off” opponent. Good luck defending that one in the debates. By the way, the Clintons get away with a lower tax rate by hiding behind the Clinton Foundation, which is really nothing more than a giant tax loophole.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[kallend 2,106]

CanuckInUSA

***The fact that the Bush family have the audacity to present yet another member to the 'throne', quite clearly shows that america has well and truly gone full retard.

Yes I agree America is going retard to support another Bush. But wait a second, where is the same outrage that America has gone retard in supporting Billary?.

Maybe you don't read the same Facebook posts that I do. Not just outrage, some of the "memes" are repugnantly offensive

...

The only sure way to survive a canopy collision is not to have one.

[rushmc 23]

More on one's perception of who is really wealthy

https://www.youtube.com/watch?v=3L5hn5B8TYI

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[normiss 854]

Meaning the pictures of her?



Yes, uncalled for. Yet true.

[kallend 2,106]

normiss

Meaning the pictures of her?



Yes, uncalled for. Yet true.

And the b**** word and c*** word and stating that she should be in prison for treason.........

Doesn't seem to me like giving her a pass.

...

The only sure way to survive a canopy collision is not to have one.

[rushmc 23]

I have absolutely do not want bush of Christy as a candidate. But if you are worried about a rich person in the white house and how they get their money, you had better worry about the Clinton crime foundation and how they get thiers

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[coozer 0]

Quote

Yes I agree America is going retard to support another Bush. But wait a second, where is the same outrage that America has gone retard in supporting Billary? Anyone who supports the Clintons are just as retarded as those who support the Bush clan.

+ 1,000,000

[normiss 854]

Huh???

[Anvilbrother 0]

Ok so it wasn't just me! Lol it looked like a text you find on your phone the day after a bachelor party.

Postes r made from an iPad or iPhone. Spelling and gramhair mistakes guaranteed move along,

[rushmc 23]

Anvilbrother

Ok so it wasn't just me! Lol it looked like a text you find on your phone the day after a bachelor party.

Ok
I was in too big of a hurry

I wish neither Bush or Christy were running

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln