Marco Rubio (R-Fla) ranks 98th in the Senate with an estimated net worth* of $443,509 in 2013.
At first I thought: ‘Well, gee, he spent 8 years in the Florida legislature and has been a US senator since 2010, so maybe he just hasn’t made a whole lot of money.’ Then I ran across a table listing Rubio’s income and federal income tax paid for the years before he became a senator:
YEAR INCOME TAX PAID
2001 89,879 13,883
2002 124,721 21,661
2003 122,718 17,414
2004 301,864 71,361
2005 330,106 76,739
2006 318,789 59,834
2007 308,285 54,423
2008 399,187 86,010
2009 317,531 60,611
No, this isn’t a ‘struggling’ young legislator. Rubio graduated from law school in 1996, got elected to the West Miami city commission in 1998 and the Florida legislature in 2000. That position didn’t pay much (it’s $29,000 per year now) but with the legislature only meeting 60 days per year, he had plenty of time for outside income…. and, as the table shows, he made the most of it.
Oh, let’s not forget that the years 2005-2008 were when he got to carry a Republican Party of Florida credit card, which he charged about $182,000 of ‘official expenses’ to. I’ve looked at those charges, and they stink to high heaven (maybe another diary there).
In 2010, Rubio made another $234,000 plus whatever his wife brought home from her job, variously described as ‘consulting’ or ‘event planning’ or ‘charity work’. BTW, she works for a company owned by the Norman Braman, who just happens to be Rubio’s ‘sugar daddy’ billionaire. In 2013, Braman’s charity donated a grand total of $250 to charity (no, I didn’t forget to put zeros after the $250), yet it paid Marco’s wife at least $54,000,
2010 saw Marco elected to the US Senate, where he earns $174,000 plus a travel expenses and other perks.
Then, in 2012, Rubio collected a book advance of $800,000, followed in 2013 by $345,000 in royalties, and another $30,000 in 2014. Of course, his wife is still pulling down ‘>$1,000’ from her job (that’s all the disclosure rules require), and Marco earns about $22,000 per year for teaching at Florida International University. Oh, BTW, Marco’s teaching job at FIU was funded by….. wait for it…… Norman Braman!
Here’s what Rubio says he did with the book advance:
Rubio used the book money to settle more than $100,000 in student-loan debt, put at least $100,000 in a money-market account, buy an $80,000 fishing boat for the family and give nearly $65,000 to charity over two years. He sent his four kids to private school and set up savings accounts for their college education. Rubio parlayed his first book into a second publishing deal for American Dreams: Restoring Economic Opportunity for Everyone, a policy discussion foreshadowing his current bid for president.
I was surprised to find that he didn’t send his kids to private school until 2012. I had thought it would have been a good ‘money sink’ to explain where he spent a lot of money prior to 2012, but no such luck.
So after all this income, including over $1 million in a windfall from his book, what did Marco do in 2014? Here is the page from his Senate financial disclosure for 2014:
Yeah, Senator Marco Rubio, who wants to be our president and become responsible for the largest, most complex economy in the world, cashed in his only retirement savings! And this came at the end of a 15 year period in which he earned at least $4,585,000, an annual average of over $300,000.
the final analyst is in the article and he wants to go from one of the purse string holders to the big chair where he's accountable to the other purse string holders you know the ones who kept saying they are not giving Pres. a blank check when it's them that have to sign each and everyone.
it's known they are terrible with numbers and money but this guy is real loser. keepin up with the JONES??????