Al Gore buys San Francisco condo

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Buried at the end of a Matier & Ross column in the San Francisco Chronicle is the news that Al and Tipper Gore have purchased a luxury condo in San Francisco.

Gore is a businessman these days —— sitting on the boards of Apple Computer Inc. and Current TV, the cable and satellite channel he started with investor Joel Hyatt —— "and those take him (to the Bay Area) pretty regularly for board meetings and the like," said his spokeswoman, Kalee Kreider.

It also helps explain why Al and Tipper Gore recently bought a luxury condo at San Francisco's St. Regis tower at Third and Mission streets.

And now comes some additional news —— youngest daughter Sarah Gore is also taking up residence in the city, attending medical school at UCSF.

Given his high tech orientation (remember who "took the initiative in creating the internet"?) and new age pretensions, San Francisco seems like a perfectly appropriate abode for Al Gore. But I suspect he will not be changing his voter registration. Like John Kerry and Hillary Clinton, Gore is now the sort of Democrat man of the people who has multiple luxury residences.

However, California's own version of the IRS, the Franchise Tax Board, is known to take a close look at people who occuply residential property in California, and ask for records of how many days were spent in state, so as to demand a proportionate share of state tax revenue. And it would appear from press reports that a lot of Al Gore's newfound wealth has its origin in California. He is rumored to have been given a block of stock in Google before the company went public. And Apple has plenty of I—Pod money with which to reward its directors.

In any event, welcome to California, Al. And don't forget that California has its own capital gains tax, just under 10%. That can really sting when you sell off a block of founders' stock. But I am certain you are anxious to pay—up your Fair Share.

Thomas Lifson  8 23 06

Buried at the end of a Matier & Ross column in the San Francisco Chronicle is the news that Al and Tipper Gore have purchased a luxury condo in San Francisco.

Gore is a businessman these days —— sitting on the boards of Apple Computer Inc. and Current TV, the cable and satellite channel he started with investor Joel Hyatt —— "and those take him (to the Bay Area) pretty regularly for board meetings and the like," said his spokeswoman, Kalee Kreider.

It also helps explain why Al and Tipper Gore recently bought a luxury condo at San Francisco's St. Regis tower at Third and Mission streets.

And now comes some additional news —— youngest daughter Sarah Gore is also taking up residence in the city, attending medical school at UCSF.

Given his high tech orientation (remember who "took the initiative in creating the internet"?) and new age pretensions, San Francisco seems like a perfectly appropriate abode for Al Gore. But I suspect he will not be changing his voter registration. Like John Kerry and Hillary Clinton, Gore is now the sort of Democrat man of the people who has multiple luxury residences.

However, California's own version of the IRS, the Franchise Tax Board, is known to take a close look at people who occuply residential property in California, and ask for records of how many days were spent in state, so as to demand a proportionate share of state tax revenue. And it would appear from press reports that a lot of Al Gore's newfound wealth has its origin in California. He is rumored to have been given a block of stock in Google before the company went public. And Apple has plenty of I—Pod money with which to reward its directors.

In any event, welcome to California, Al. And don't forget that California has its own capital gains tax, just under 10%. That can really sting when you sell off a block of founders' stock. But I am certain you are anxious to pay—up your Fair Share.

Thomas Lifson  8 23 06