Miers Wealth Shrank During Time in D.C.

WASHINGTON -- Harriet Miers came to the White House in 2001 from a major Texas law firm, boasting a nearly $624,000-a-year salary and assets of as much as $1.1 million.

More than four years later, as Bush's nominee for the Supreme Court and his White House counsel, Miers makes just $161,000 and her holdings could be as little as half what they were.

A mystery since the president announced Miers as his pick to replace retiring Justice Sandra Day O'Connor is how someone who was a lawyer for 28 years at one of the South's largest firms -- representing major corporate clients and including stints as the firm's president and co-managing partner -- has come to have relatively little wealth.

The value of her holdings has steadily declined during her time in Washington, disclosure forms show. One explanation offered by the White House and Miers' backers lies in her devotion to her family and her church.

(snip)

Miers' mother, whose many health issues include brittle bones, a fractured hip, dementia and trouble swallowing, "really went into a tailspin" this summer but has improved since, Hecht said.

She could develop health problems.

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http://www.newsday.com/news/politics/wire/sns-ap-miers-shrinking-wealth,0,3526835.story?coll=sns-ap-politics-headlines

Duh.

Please.

in assets? WTF is she doing with her salary? People who make a small fraction of that salary have more than $1.1 million in assets

:shrug:

Is he the WH designated spokesperson to paint her mysterious past? I think she dated him, but he is ALWAYS quoted now.

Hard for me to feel to sorry for someone in that circumstance when her people are getting ready to cut food stamps off for 300,000 people.

At least she's got a ring she can hock. :eyes:

who earn all their income from their work (as opposed to capital gains and dividend income).

The first dollar lawyers and doctors earn is from labor, so, benerally they're paying 28 to 35% on a big chunck of their income.

Now, being a corporate lawyer is a sweet deal because you're getting business from the corporations who are getting rich from not having big tax bills (and you get inside tips on the direction capital is flowing). But then again, Bush is insultating so many of these businesses from litigation that the only money to really make is on transactions. Now, if you're not so lucky to have a stable of clients who are getting rich in a bad economy...well, that could be tough too.

how much would that have effected her wallet?

that maybe she gave alot of her wealth away. I think it is possible that she gave it to her church.

That doesn't mean I think she is the right person for the job. But maybe she is generous, or knows that she has a big inheritance coming or something.

I am so very, very sad for her.