Tuesday, September 09, 2008

The Myths of Palin: Bridge and Jet

In response to Michael's question about what she's saying that isn't true: The WSJ:
But Gov. Palin's claim comes with a serious caveat. She endorsed the multimillion dollar project during her gubernatorial race in 2006. And while she did take part in stopping the project after it became a national scandal, she did not return the federal money. She just allocated it elsewhere.

Regarding the jet sale: eventually someone (it wasn't Palin) brokered a deal for the sale of the jet. But it did not sell on eBay. In fact, I submit that putting it on eBay was a publicity stunt. How many $2.5 million jets sell on eBay, as opposed to more conventional channels. It wasn't a horrible idea she had; in fact, it was common practice for the State of Alaska to sell surplus stuff on eBay. But it didn't actually yield any result, so I give her no credit for this. She may be being careful about her language on the stump ("I put it on eBay"), but McCain keeps saying she sold it on eBay. It's myth-making.

[Update: link to jet story, though I find it hard to believe we haven't all read this.]

[Update II: She didn't tell Congress "Thanks, but no thanks." She told Congress "Thanks. I'll buy what I want to with this money."]


Anonymous said...

About the Jet:

Depreciation 101

Purchase Price (2005) - $2,700.000
Depreciation (2005) - $385,714
Depreciation (2006) - $385,714
Depreciation (2007) - Don't know the timing, so we'll forget it
Basis (2007) - $1,928,572
Sales Price (2007) - $2,100,000
Capital Gain $171,428
Sales Commission - $31,000

Net Profit - $140,428

Republicans know how to run a business and simple accounting

Michael said...

The bridge wasn't built. She had a role in that. She used the money elsewhere. Where's the problem and where's the lie?

Michael said...

How about some credit for selling the damn thing in the first place?

Michael said...

I'm sensing lots of hostility in this post.

Stephanie said...

Both were politically necessary in light of public ridicule. I'll give her credit for recognizing political reality. But that's hardly being maverick-y.