ww.nebraskademocrats.org/blog/620/wall-street-pete-ricketts-rule

Wall Street Pete: Ricketts Rules
Jun 21, 10:40 AM CST



Have you ever wondered what it would take to be like Pete Ricketts? Now, for the first time, we’re letting everyone in on the secrets to Pete’s success. This simple guide can help any Nebraskan hold himself to a different standard than his fellow citizen; talk out of both sides of their mouth; and put their interests above those they would seek to represent.

The Ricketts Rules will ensure that you can have it both ways; the Pete way.

Rule 1 – Only the independently wealthy can be Senator.

“The PACs give me money because they believe in me because they know that, with my own means, I’m not going to be someone who is beholden to somebody because they wrote me a check,” Ricketts said. [Omaha World Herald, 6/20/06, emphasis added]

Rule 2 – PAC contributions don’t count if you say they don’t.

“But [Pete Ricketts] acknowledged he is raising money from political action committees – often linked to businesses, advocacy groups or associations that lobby Congress – and asserted that’s different from Nelson’s fundraising activities.” [Omaha World Herald, 6/20/2006]

Rule 3 – Be oblivious to your surroundings.

“Ricketts was in Washington to meet with officials at the National Republican Senatorial Committee, which works to elect Republican candidates, and for other political meetings.” [Omaha World Herald, 6/20/2006]

According to the FEC, the National Republican Senatorial Committee (NRSC) has taken $3,294,375 in contributions from PACs so far in 2006. [May monthly FEC filing, 5/19/2006]

Rule 4 – Say you’ll cut taxes, but actually propose raising them.

“As your Republican Senator, I’ll vote to cut your taxes, cut spending and protect our values.” [Ricketts TV ad, “New TV Spot,” www.petericketts.com, accessed online 6/20/06]

“Ricketts also called for tax reformation via a consumption tax. ‘It’s fair because everybody pays it,’ he said. ‘All you have to do to avoid paying it is not buy anything.’” [Fremont Tribune, 4/5/06]

95% of Nebraskans would see a tax increase under a national sales, or consumption, tax. [“The Effects of Replacing Most Federal Taxes with a National Sales Tax A State-by-State Distributional Analysis,” Institute on Taxation and Economic Policy, 9/04]

Rule 5 – Don’t let pesky election regulations get in the way of your vacation.

“All members of Congress, their election challengers and candidates for open seats are required to file the reports with the House and Senate by May 15….

“Ricketts hasn’t filed his personal disclosure form yet because he was busy with the three-man primary battle, Meuret said.

“After he won the primary, he took a vacation lasting about a week.” [Omaha World Herald, 6/13/2006]

Rule 6 – Change Social Security to benefit the family business.

Pete Ricketts has advocated privatizing Social Security. [Pete Ricketts, Lincoln and Lancaster County League of Women Voters U.S. Senate Primary Debate, 4/18/06]

According to University of Chicago Economist Austan Goolsbee, privatizing social security would increase payments of financial fees to private financial management companies like Ameritrade by $940 billion. [“The Fees of Private Accounts and the Impact of Social Security Privatization on Financial Managers,” University of Chicago, September 2004]

Rule 7 – Your home should be valued at what you say it should be, not what you actually paid for it.

Pete Ricketts purchased his home for $1.2 million in cash in 1999. On June 12, 2002, he filed a protest over this property assessment and requested that the county reduce the assessed value of his house to $624,960 from $1,181,300. [Douglas County Property and Tax Records for Parcel 2910-0000-00, and Real Estate Property Valuation Protest to the
Douglas County Board of Equalization on Parcel 2910-0000-10, 2002, Protest Number 418]

In 2006, he again sought to have his valuation lowered substantially below what he paid for it. “[Pete and Susanne Ricketts] want the valuation to stay at $900,000…. The Assessor’s Office points out that the couple bought the home in 1999 for $1.2 million.” [Omaha World Herald, 6/9/2006]

Nebraska statute requires property assessments to be at least 92% of actual value. [NEB. REV. STAT. Sections 77-5022 and 77-5023; Nebraska State Unicameral, “Taxes In Nebraska”]

Follow these simple rules and maybe you can run for Senate too!

– by Eric Fought | Send this to a friend