Monday, August 13, 2007

Repignican Values Along the Hurricane-Ravaged Gulf Coast


Its almost pointless any more to get righteously indignant about the latest screw up from the Bush Abomination. However this one seems to take the cake. Not only does Bush not give a rat's cheney about the people on the Gulf Coast, a huge chunk of change appropriated to help restore the Gulf Coast has gone for luxury condos, hundreds of miles inland.
Katrina Aid Goes Toward Football Condos
By JAY REEVES | Associated Press Writer
2:28 PM EDT, August 13, 2007

TUSCALOOSA, Ala. - With large swaths of the Gulf Coast still in ruins from Hurricane Katrina, rich federal tax breaks designed to spur rebuilding are flowing hundreds of miles inland to investors who are buying up luxury condos near the University of Alabama's football stadium.

About 10 condominium projects are going up in and around Tuscaloosa, and builders are asking up to $1 million for units with granite countertops, king-size bathtubs and 'Bama decor, including crimson couches and Bear Bryant wall art.

While many of the buyers are Crimson Tide alumni or ardent football fans not entitled to any special Katrina-related tax breaks, many others are real estate investors who are purchasing the condos with plans to rent them out.

And they intend to take full advantage of the generous tax benefits available to investors under the Gulf Opportunity Zone Act of 2005, or GO Zone, according to Associated Press interviews with buyers and real estate officials.


And to think that last week Bush flew to Minneapolis for a photo op with the bridge collapse victims where he promised in the same hollow terms he promised for victims of Hurricane Katrina that the government would help.

No wonder the public thinks that government employees are a bunch of jerks.

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