Posted on 05/06/2007 7:30:37 PM PDT by Graybeard58
Curtis James Jackson III hasn't exactly been a pillar of the Farmington community these last three-plus years, but there's no denying he's superrich. Forbes magazine says he makes $41 million a year. He lives in a 48,000-plus-square-foot estate that boasts 52 rooms, 37 bathrooms, a gym, a pool and spa, a movie theater, two billiard rooms, a casino, racquetball courts, a disco with a wall of 20 TVs, a recording studio and a helicopter pad. The place cost him $4.1 million in 2003, and he spent at least $6 million fixing it up. Now he's preparing to take what could be a considerable loss just to get the hell out of Connecticut.
Better known as the rapper 50 Cent, he reportedly is asking $10 million for his mansion. He can afford to take a financial hit because besides his entertainment career, Mr. Cent "lords over G-Unit, a vast multimedia empire that includes apparel, video games, ringtones, even a stake in Glaceau Vitamin Water," reports Forbes. He hasn't said publicly why he wants out of Connecticut, but it's doesn't take a Harvard MBA to connect the dots.
People such as Mr. Cent are the most heavily taxed people in America's most heavily taxed state. In 2006, the income-tax liability on $41 million was $2.05 million, according to the Department of Revenue Services. Now legislative Democrats, in their never-ending war against success, want to raise the tax rate to 6.95 percent on people making upward of $250,000 a year. At the higher rate, the tax on $41 million would be $2.87 million, a 40 percent increase.
People with shallow roots and the wherewithal to live where they please very well could see this as the final indignity. Why should the likes of Mr. Cent be liable for another $820,000 in income taxes just because Democrats want to spend more and punish the rich, just because they can?
Mr. Cent seems to wants out so badly, he doesn't care if his mansion doesn't sell for a long time. "Anything over $10 million is going to sit and sit," warned one real-estate agent, noting ominously that another house in Farmington that went on the market for $13 million still hasn't sold even though the asking price is down to $6.9 million. The dearth of buyers answers the questions: Who in the highest tax bracket would want to move to Connecticut knowing they instantly will become tax piñatas?
Mr. Cent would not be our model for success. He was born to a drug-dealing single mother, and by 12, he was bringing cocaine and guns to school. During high school, he was charged several times with drug possession and finally got sent to boot camp instead of prison. He survived a shooting. He has been in the crosshairs most of his life; this time, it's legislative Democrats who have him in their sights. They are advised, however, to check their aim before pulling the trigger, lest they shoot themselves in the foot.
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"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
they should stop trippin out yo... bunch of haters.
On the + side Fiddy said he’d have voted for Bush if he wasn’t a convicted felon.
LOL, Mr. Cent.
You mean there's only 15 rooms that aren't bathrooms?
Yet if he votes, I bet he votes Democrat.
People such as Mr. Cent are...
Robin Leach needs to start a new reality show of people with no talent, “Lifestyles of the Rich and Undeserving”
Amazing. May I say, “Cool dat”? Seriously, I am absolutely flabbergasted that any rapper likes President Bush.
...he needs to buy “Tax Offsets” like the rest of the Limo Libs...
I caught that too on HD channel. Didn’t he say that he respected Bush, that he feels he thinks alot like Bush does.
Yo, see? I B slammin da press. I sed I B shot 8 or 9 tymz. Wut dis survived a shooting chit anywayz?
Fitty is a Bush supporter. He thinks hes a “G”
FYI..IIRC, the house was previously owned by Mike Tyson...talk about “there goes the neighborhood..”
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