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| User Info | Does Anyone In Obama's Administration Pay Taxes? in forum [Ticker] | |||
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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/807-Do....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-18 20:12:13
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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Ahaa ... I knew it was coming. I'll bet there will be a few more missives coming soon. Gen, don't ya just love it when they give you all this fodder? Oh, and to answer your question. No. ---------- I have money, therefore I exist.
2009-02-18 20:16:41
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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They make my job easy. BTW, its been noticed. Expect a MAJOR announcement within a couple of days. You're not going to believe it. Seriously. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-18 20:18:16
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Captbill Posts: 485 Incept: 2008-07-22 
Arizona's West Coast
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 And who's next? This seems BIG.
2009-02-18 20:19:55
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Keewaydin Posts: 1547 Incept: 2007-08-22 
Just a fleshwound!
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That's tantalizing. Care to give us a preview?
2009-02-18 20:20:04
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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No. 
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-18 20:21:08
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Scrood Posts: 1999 Incept: 2008-05-17
Green Shoots!
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Tease!
---------- CTRL-GALT-DELETE
2009-02-18 20:22:25
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Mezcal Posts: 838 Incept: 2007-08-04
Benicia, CA
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For ****'s sake.
---------- The state controller's office fired up a pair of printing presses... - LA Times
2009-02-18 20:29:15
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Will Posts: 76 Incept: 2008-12-26
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Ok - so I'm all for hating on the O administration while they work at the behest of the banksters. I definitely don't have any love for Rambo. Or wealthy Congress schisters. But leaving that aside for the moment, should the government really have the power to require I pay tax on some "fair market value" of theoretical rent I should "have to" pay? If someone gives me a room or a house or a whole Castle and they want to rent it to me for $1 (or $0 dollars) isn't that price between me and them? I don't follow the logic here of the govt being able to heap on income tax on me because I got a good deal.
2009-02-18 20:30:31
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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There is an IRS reg somewhere that I've read, but I can't find it. This will have to do for now: Income that may not be seen as cash, but instead comes in the form of a benefit...sometimes by having another pay an expense...sometimes by having a benefit provided. Examples: The value of a car provided by your employer that you may use for personal use. That value is imputed income. Likewise, the value of having some other benefits - over $50,000 a year of life insurance provided by your employer (the value of the insurance is imputed income). An employer sponsored (even if what it does just work to make the costs lower) of an on site cafeteria - imputed benefit. Having a below market rate loan...that some employers provide certain employees...the lower interest that they forgoe is a benefit to you...and hence imputed income. [This last one is interesting. Our President, Sen. Chris Dodd and Barney Fife all got mortgage loans below the then current rates. I wish someone would go pull their notes/mortgages so we could see.] Sounds like they all might owe back taxes. http://wiki.answers.com/Q/What_is_impute.... I think he's toast. ---------- I have money, therefore I exist. Last modified:
2009-02-18 20:34:31 by psquared
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Will, that's the law. Bartered goods are subject to tax. There's a $10,00 personal exemption - anyone can give you $10k in a year. More than that, whether in cash or not, you have to declare it. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-18 20:32:06
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Will Posts: 76 Incept: 2008-12-26
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Mezcal, your photo is freaking me out.
2009-02-18 20:33:12
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Dan721 Posts: 2185 Incept: 2007-08-23
Phoenix, AZ Online
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Better question: Does Anyone Pay Taxes? Once again, we here are proved to be the fools. I'm off to the FairTax site to make sure they use this fodder in their ongoing campaigns. "No wonder no one in Congress wants the FairTax! You can't EVADE the FairTax! That's why it's FAIR!" Is there any precedent for citizens demanding that the entire Congress be audited by the IRS? How many of the 535 have been confirmed as tax cheats? Dodd Daschle Rangel Emanuel Come on, I know there's more. 1 more and we have 1% proven cheats. There's never one ****roach. There's GOT to be a precedent for this.
2009-02-18 20:34:24
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Will Posts: 76 Incept: 2008-12-26
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"Bartered goods are subject to tax. There's a $10,00 personal exemption" Would he be in a better legal/tax position if he had had a lease at a price of $100 a year? Thus it not being a barter?
2009-02-18 20:35:05
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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Hey Gen, can we call you "Slim" for short? Love the new Avatar. 
---------- I have money, therefore I exist.
2009-02-18 20:37:03
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Obseedian Posts: 8254 Incept: 2007-07-26
RIMM Central
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Looks like he's been skipping on property taxes too. This guy is unbelievable! http://rightsoup.com/rahm-emanuel-evades.... According to the Cook County Assessor’s website, the Chicago home of four-term Democrat Congressman and likely new White House Chief of Staff, Rahm Emanuel, doesn’t exist. While the address of 4228 North Hermitage is listed as Emanuel’s residence on the Illinois State Board of Elections’ website, there seems to be no public record of Emanuel ever paying property taxes on this home… Why would 4228 North Hermitage property owners Rahm Emanuel and wife Amy Rule not pay property taxes? One reason could be because Emanuel and Rule declared their 4228 North Hermitage home as the office location for their non-profit foundation appropriately called the “Rahm Emanuel and Amy Rule Charitable Foundation”. As a non-profit headquarters, they may consider their home as exempt from paying taxes. The Rahm Emanuel and Amy Rule Charitable Trust was formed in 2002, when the Chicago lawmaker was first elected. The former Clinton White House aide and his wife, Amy Rule, are its only donors. UPDATE: Looks like the original story is not true, it appears Rahm owns the adjacent (empty) property as well, hence the weird tax records. http://illinoisreview.typepad.com/illino.... ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline! Last modified:
2009-02-18 22:23:13 by obseedian
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Fidgit Posts: 14065 Incept: 2008-02-18
AllyBammy
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Obseed, oops...
---------- I say it's spinach, and I say the hell with it.
2009-02-18 20:38:30
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-18 20:38:50
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Scrood Posts: 1999 Incept: 2008-05-17
Green Shoots!
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What in the wide, wide world of sports is a-goin on here!?
---------- CTRL-GALT-DELETE
2009-02-18 20:39:27
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Obseedian Posts: 8254 Incept: 2007-07-26
RIMM Central
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Then again, this says he does pay his property taxes...WTF? But they only show 2008 data.  http://www.progressillinois.com/2008/11/.... ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2009-02-18 20:40:51
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Nike Posts: 1174 Incept: 2008-10-09
Sunny California - Go Angels!
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Just curious, how would they determine the amount of rent he should have paid to live in the house? And I sooo want to start a pool on what this announcement is going to be. I'll go with Geithner getting canned, which would sadden me a little because he gives me so much material to work with in photoshop when the market is choppity chopping. 
---------- "Nobody panics when things go according to plan. Even if the plan is horrifying." -- The Joker "A trillion here, a trillion there. Someday it'll matter." -- Rick Santelli
2009-02-18 20:43:14
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Baldy Posts: 6555 Incept: 2008-05-16
Pittsburgh
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I didn't vote for the guy and thought awful things about his policies. However, I have been trying to give him a chance. These tax issues though MUST have been known. If only to protect the President. My assumption is they were not considered important. That is very disturbing. Especially when hard working and honest people are treated as criminals by the IRS, and have to prove their innocence, contrary to what this country used to stand for. People are going to suffer in this country like nothing most of us have experienced. I don't want vengeance. Just give me justice.
---------- FY2011 Budget - Hist'l Tables (PDF 2.0 MB) http://www.whitehouse.gov/omb/budget/fy2011/assets/hist.pdf 1996-2011 budgets: http://www.gpoaccess.gov/usbudget/browse.html
2009-02-18 20:45:22
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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Nike, easy. FMV. If he had rented the equivalent what would it have cost? I don't know the DC market, but I'm guessing 4 grand a month. Plus utilities. Over 5 years we are talking 250k. ---------- I have money, therefore I exist.
2009-02-18 20:47:06
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Torgo Posts: 389 Incept: 2009-01-14
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Of course Obama didn't know. Just like he didn't know: That Rezko was bribing politicians That Rezko gave $200k to his campaign That getting his mansion courtesy of Rezko was "wrong" That Blago was "selling" his Senate seat That Wright is a bigot, USA hater and anti-semite That Ayers was a terrorist
2009-02-18 20:47:33
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Trillion$deficit Posts: 31 Incept: 2009-01-06 Atlanta
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Where have you guys been? All this stuff has been known for a while now. Palin also owes back taxes. http://www.adn.com/palin/story/693695.ht.... Guess she's now qualified to serve in Obama's cabinet.
2009-02-18 20:49:11
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