Monday, June 12, 2017

SCOTUS Term wrapping up.

Like teachers, Supreme Court Justices get the summer off. I'm not sure why this tradition started, but it's weird to me. Why don't other judges get the summer off? Why not lawyers? Not too long ago, Miami courthouses shut down in August and lawyers took that month off (because the courtrooms were just too hot). Even after AC, the tradition continued for a while, but not anymore.

Anyway, unlike teachers, Supreme Court Justices have quite a bit of assets (their base salaries are $250,000). SCOTUSblog summarizes some of those here:
    • They get presents. Alito received a “bronze cast of hand” valued at $3,000 from Bottega Mortet, an Italian sculpture studio whose website advertises an “Artisan Hand Project.” There is no way to know whether the cast was of Alito’s own hand.
    • ***
    • They have very few debts. Last year the average U.S. household had debts totaling over $132,000. But seven of the eight justices – Alito, Breyer, Ginsburg, Kagan, Kennedy, Roberts and Thomas – reported that they had no liabilities at all, while the eighth – Sotomayor – listed only one liability, a mortgage on a rental property in New York.
    • But they have a lot of investments. Alito listed well over 100 investments and trusts, including mutual funds, municipal bonds and stocks. The forms provide only a range for the justices’ investments, but Breyer’s appear to total over $5 million. Roberts holds stocks in major companies such as Time Warner, Texas Instruments and SiriusXM, although he sold at least $250,000 in Microsoft stock at the beginning of January 2016. Roberts also reported at least $600,000 in bank accounts and over $600,000 in college savings plans.
    • They own a lot of real estate. Breyer owns a house in Nevis in the West Indies – presumably the same one where he was robbed by a man with a machete in 2012 – valued at between $250,000 and $500,000. (Breyer reported only limited rental income, of $1000 or less, for the house for the year.) Breyer sold land in Concord, Mass., for at least $500,000 to Neil and Anna Rasmussen, who run a Massachusetts foundation that promotes historic preservation and natural resources conservation, but he continues to own property in Plainfield, N.H., valued at between $250,000 and $500,000. Roberts owns one-eighth of a cottage in Limerick, Ireland, valued at between $15,000 and $50,000, while Sotomayor’s rental property in New York is valued at between $1 and $5 million.

1 comment:

Anonymous said...

Same reason kids get summer off from school.
Obviously, the Justices need to go home and harvest their crops.