Now we find out that loony Californey Governor Gavin Newsom was not only given a $3.7 million mansion, he also took out a tax-free $2.7 million mortgage payout on the property he was given. And that’s not the end of the Governor’s disgusting hypocrisy. Excerpt:
- Gavin Newsom’s $3.7 million, 12,000 square foot mansion, on 8+ acres along the American River in Sacramento, was the area’s most expensive home sale in 2018
- The gated estate consists of a 6 bedroom/10 bath home, a guest house, a pool, a tennis court, and a wine cave
- An LLC registered to Newsom’s cousin, long-time business partner, and Co-President of PlumpJack, Jeremy Scherer, paid cash for the estate in December 2018
- Newsom’s spox, though, claimed in Jan 2019 that it was Newsom who’d paid cash for the home – puzzling, since Newsom still carried a $3.2 million mortgage on his prior home
- In Oct 2019 the LLC gifted the home to the Newsoms free and clear, claiming Newsom was a member of the LLC to avoid a $4,000 Transfer Tax
- In January 2020 the Newsoms received $2.7 million tax-free when they obtained a cash-out refinance
- Newsom’s financial disclosure forms don’t mention the LLC or the gifts, which far exceed the $500 limit
- In 2003, Newsom was cited for failing to disclose $11 million in real estate and business loans
One thing that’s become extraordinarily clear to Californians in 2020 is that there’s one set of rules for Gov. Gavin Newsom, and there’s another set of rules for the rest of us. He preaches that we’re all in this together and that we have to sacrifice to “meet this moment,” yet he’s not missing a paycheck.
While the dream of owning a home is increasingly out of reach for California’s families, it appears that Newsom received a $3.7 million estate from an LLC owned by his cousin then, a few months later took out a $2.695 million (tax-free) cash-out mortgage on it — and didn’t report the gift on any of his financial disclosure forms.
Yes, it’s clear that Gavin Newsom doesn’t live by the same rules the rest of us do. It’s good to be king.
In any sane universe, Newsom would be impeached, removed from office, and facing criminal charges. But not now, not this Governor, not in California; he will certainly get away with this, and will probably be re-elected into the bargain, because in California, as we continually see confirmed, some animals are more equal than others, and “progressive” Democrat governors are obviously the most equal of them all.
The article linked here concludes:
If the $3.7 million used to purchase the home came from another source — donors, friends, or whomever — then Gavin and Jennifer Newsom were “gifted” the home, received $2,695,000 cash tax-free, and retain title to the home, that looks a lot like money laundering and/or concealing donations or improper gifts. Since it’s on record that he failed to report two “loans” Gordon Getty gave him, totaling $2.1 million, to purchase luxury real estate in the early 2000s, it’s not exactly against type for him to take money from benefactors then “mistakenly” omit that funding from financial disclosure records.
But we all know he won’t. Nobody in the legacy media will ask any uncomfortable questions about this; nobody in the legacy media will write a single syllable about it. Newsom has the one item of sure-fire armor against having any of these shenanigans investigated:
A “D” after his name.
Congratulations, California. You’re getting the government you want, good and hard.