06-11-2015, 03:11 PM
I wouldn't call it a huge fail. The article was pretty concerning, reading like a typical American who struggled to manage their finances and spending like someone counting heavily on their income increasing in 5-10 years.
I don't really care about the boat if he wanted to treat himself, though it's ill advised. $800k, even after taxes, is enough to rescue even some of the most reckless. $80k is not a yacht, but it's not a boat your average person buys, either. $800k after taxes isn't that much, either, and for a guy who's been in debt $80k is a pretty dumb purchase - classic example of "money burnin' a hole in your pocket".
It could be turned around as a shining example of someone of modest means breaking into high-level politics (I'm talking all the financial troubles before the book bailout). Either way, I think it bears some consideration rather than quickly dismissed as nothing.
I don't really care about the boat if he wanted to treat himself, though it's ill advised. $800k, even after taxes, is enough to rescue even some of the most reckless. $80k is not a yacht, but it's not a boat your average person buys, either. $800k after taxes isn't that much, either, and for a guy who's been in debt $80k is a pretty dumb purchase - classic example of "money burnin' a hole in your pocket".
It could be turned around as a shining example of someone of modest means breaking into high-level politics (I'm talking all the financial troubles before the book bailout). Either way, I think it bears some consideration rather than quickly dismissed as nothing.
