
So I was over at the Rathole of Bitterness and I noticed they were all out of anti-Mormon bigotry today. Instead they were pimping a clever pack of lies about Paul Ryan by Chuckie Pierce:
The Ryan Family’s History of Fakery
I was struck by the revelation in this morning’s paean to zombie-eyed granny-starving in the Times, that young, up-from-the-muddy-bootstraps Paul Ryan, the plucky burger-flippin’ success story from darkest Janesville, Wisconsin, had amassed a fortune of “between three and $7.7 million” without having held a more lucrative job than “Congressman” at any point in his adult life. Then, I noticed another item. Namely, that:
Mr. Ryan reported two tax-deferred college savings plans, with a combined value of between $150,000 and $300,000. He also reported two investment partnerships worth, in total, between $350,000 and $750,000, mostly containing shares of stock in well-known companies, including Apple, Goodrich, Kraft Foods, Visa and Whole Foods. Both partnerships were formed by Mr. Ryan and other family members to manage assets left by his grandparents and an aunt. Mrs. Ryan has reported receiving a trust after her mother died in 2010 that is valued between $1 million and $5 million, according to a letter Mr. Ryan filed with his latest financial disclosure. Mrs. Ryan also has longstanding interests in several mining and oil exploration investments in Oklahoma and Texas managed by her father, Dan Little, a lawyer in Oklahoma whose clients include oil and gas companies. Those investments generated as much as $150,000 in income last year.
So, he’s not the son of poor Smallville dirt farmer Jonathan Kent and his wife, Martha, after all. Where does the family dough come from? A construction company founded by Great Grandpa Ryan. The Rude Pundit went a’wandering through Googlestan, and what did he find? Among other great nuggets, this thing right here:
“The Ryan workload from 1910 until the rural interstate Highway System was completed 60 years later, was mostly Highway construction.”
If you were a gullible person of low intelligence with poor reading skills you might get the impression that Paul Ryan has been very dishonest about himself, telling people how he overcame adversity to get where he is today when he was really born with a silver spoon in his mouth.
But I’m not a very trusting person so I check sources for myself and I try to read carefully.
First of all, Paul Ryan never claimed to be poor. But his dad died when he was just sixteen. Ryan was then living in Janesville, Wisconsin with his mother. His paternal great-grandfather had indeed founded a paving business, but it was owned and run by other members of the Ryan family. Paul Ryan’s father was an attorney who did not work for the family business.
After Paul’s father died he was entitled to Social Security benefits until he turned eighteen. Paul saved that money and used it to help pay for college. He also worked at McDonald’s while he was in high school. After he graduated from college Ryan entered public service where he has remained ever since.
Now here is where the reading skills become important. Chuckie P. makes it sound like Ryan amassed a small fortune on a Congressman’s salary. But read carefully:
Mr. Ryan reported two tax-deferred college savings plans, with a combined value of between $150,000 and $300,000.
Paul Ryan has three kids. He has managed to put aside some money for them for college. It’s not an outrageous amount for someone who makes $174,000 a year.
But wait! There’s more!
He also reported two investment partnerships worth, in total, between $350,000 and $750,000, mostly containing shares of stock in well-known companies, including Apple, Goodrich, Kraft Foods, Visa and Whole Foods. Both partnerships were formed by Mr. Ryan and other family members to manage assets left by his grandparents and an aunt.
This one is unclear – is that the total value of the partnership or is that just Ryan’s share? How much did he inherit and when did he actually inherit it?
This is the best part:
Mrs. Ryan has reported receiving a trust after her mother died in 2010 that is valued between $1 million and $5 million, according to a letter Mr. Ryan filed with his latest financial disclosure. Mrs. Ryan also has longstanding interests in several mining and oil exploration investments in Oklahoma and Texas managed by her father, Dan Little, a lawyer in Oklahoma whose clients include oil and gas companies. Those investments generated as much as $150,000 in income last year.
“Mrs. Ryan” would be Janna Ryan, Paul’s wife. In other words, the bulk of the “fortune” amassed by Paul Ryan actually belongs to his wife. Wisconsin is a community property state so if they were to divorce she would keep all of her inheritance as her separate property.
Last but not least is the idea that Paul Ryan is a hypocrite because some members of his family made money building roads via government contracts. But Ryan has never argued that government should not build and maintain roads. And his great-grandfather still had to run a business at a profit while winning low-bid contracts.
What’s that you say? The article didn’t actually say anything that wasn’t true? That is correct. But my grandpa used to say “The best way to lie is to tell the truth creatively.” Chuckie P. has obviously learned that technique.
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