I'm not a huge fan of Romney's politics, either but I can see the point that horse should not be on his taxes as a business expense unless they are making a profit from it then in that case it they wouldn't qualify for Olympics. Either it is therapeutic or a business.
Hmm first I really need to ask how you figure a business cannot own an olympic horse? And yes the horse can be on his business expenses and still be used by his wife personally. That would be like saying you cannot check your personal email from a work computer. Do you think that therapy dogs don't go home with their owners and maybe the owners then find the dog comforting? I have to imagine that there has to be some olympic horses that are owned by businesses. What if the horse wins and they breed it and make money. Seems easiest to report that money by a business to deduct the expenses incurred.
But really if dressage is only for the rich I really wish someone would have told me that before I decided to do dressage. Oh yea and I watch a theraputic riding program every week, and it's free...