In last Friday's debate, George Bush got a laugh when he scoffed at Kerry's contention that he had received $84 from "a timber company." Said Bush, "I own a timber company? That's news to me."
According to his 2003 financial disclosure form, Bush
does own part interest in "LSTF, LLC", a limited-liability company in the "oil and gas production" business. The Lone Star Trust now owns 50% of a company "organized for the purpose of the production of trees for commercial sales."
Kerry got his information from a Sept. 23 article on the
www.factcheck.org website stating that Bush on his 2001 federal income-tax returns "reported $84 of business income from his part ownership of a timber-growing enterprise.
Bush was wrong to suggest that he doesn't have ownership of a timber company.
Kerry was correct in saying that Bush's definition of "small business" is so broad that Bush himself would have qualified as a "small business" in 2001 by virtue of the $84 in business income.
Mr. Bush owes the American public - and John Kerry - an apology for ridiculing the truth.
It must be nice to be so wealthy that you can't even keep track of your holdings... especially those that qualify you for special tax treatment.