Jeb Bush Made Over $500,000 From Obamacare Law He Criticized
Daniel Drew, 7/6/2015
Jeb Bush continues the long tradition of playing both sides. You could say it's in his blood. His grandfather, Prescott Bush, profited from investments in the Nazi war industry until his company's assets were seized in 1942 under the Trading with the Enemy Act. Now, 73 years later, his grandson is straddling the line between the Democrats and Republicans by calling the Affordable Care Act a "monstrosity." Never mind the fact that this legislation led to some monster-sized profits thanks to his investments in Tenet Healthcare, where he was a director.
Bush was a director of Tenet Healthcare from 2007-2014. During that time, he acquired a large stake before cashing out with $556,283.
Bush doubled his money as a result of widespread expectations about the Affordable Care Act. He sold his shares on October 2, 2013, the second day of the government shutdown and the second day of the healthcare website launch debacle. While thousands of federal employees were being sent home as the Republicans created government gridlock, Jeb Bush was ringing the cash register with profits from the very legislation he publicly criticized. His grandfather would have been proud.
Even more amusing is Bush's income chart.
Before his father became president, Jeb was blowing money on various investments. In other words, he was getting screwed by the investment industry just like your average American. However, once his father became president, he started making money. In 2007, his income really accelerated; that's when Jeb became a professional blowhard. One third of Jeb's income since 2007 has been earned from 260 paid speeches. Altogether, he earned about $10 million from these events, which means his average speaking fee is about $38,000. That's more than many Americans make in the entire year.
Forget diversification, rebalancing, and dollar-cost averaging. Those strategies are for amateurs. The best way to get rich is to be the president's son, charge $38,000 for speeches, and invest in companies that benefit from the same government policies you criticize.