Author Topic: Does Anyone In Obama's Administration Pay Taxes?  (Read 534 times)

James

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Does Anyone In Obama's Administration Pay Taxes?
« on: February 18, 2009, 08:09:47 PM »
Does Anyone In Obama's Administration Pay Taxes?

"NEWS broke last week that Rahm Emanuel, now White House chief of staff, lived rent- free for years in the home of Rep. Rosa De Lauro (D-Conn.) - and failed to disclose the gift, as congressional ethics rules mandate. But this is only the tip of Emanuel's previously undisclosed ethics problems.

.....

Emanuel never declared the substantial gift of free rent on any of his financial-disclosure forms. He and De Lauro claim that it was just allowable "hospitality" between colleagues. Hospitality - for five years?

Some experts suggest that it was also taxable income: Over five years, the free rent could easily add up to more than $100,000.

Of course it is taxable income. Anyone can give anyone up to $10,000 a year tax-free, but "gifts in kind" are still required to be reported and are taxable. If it is really $100,000 worth it exceeds the giftable amount and is subject to tax, just as certainly as it is if you get a chauffeured car and driver (aka Daschle)

What's worse though is this:

Nor is this all that seems to have been missed in the Obama team's vetting process. Consider: Emanuel served on the Freddie Mac board of directors during the time that the government-backed lender lied about its earnings, a leading contributor to the current economic meltdown.

The Federal Housing Enterprise Oversight Agency later singled out the Freddie Mac board as contributing to the fraud in 2000 and 2001 for "failing in its duty to follow up on matters brought to its attention." In other words, board members ignored the red flags waving in their faces.

The SEC later fined Freddie $50 million for its deliberate fraud in 2000, 2001 and 2002.

Meanwhile, Emanuel was paid more than $260,000 for his Freddie "service." Plus, after he resigned from the board to run for Congress in 2002, the troubled agency's PAC gave his campaign $25,000 - its largest single gift to a House candidate.

...

We've now got a chief of staff who served on the board of Freddie Mac while they were flim-flamming their books?

Now THAT is "Change We Can Believe In"


...

http://market-ticker.denninger.net/

Don't fret. None of this matters ... but YOU had better not do this ....

RAHM'S 'RENT' IS JUST THE TIP OF ETHICS ICEBERG


More details here:

http://www.nypost.com/seven/02172009...ice_155536.htm
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Dan-O

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #1 on: February 18, 2009, 09:19:17 PM »
You forgot to include the last line from the Market Ticker article:

Quote
PS: President Obama, if you truly didn't know about this, you need to fire Rahm today.  If you did know about it, you need to resign.


marcus

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #2 on: February 18, 2009, 09:55:11 PM »
Aren't liberals great? Raising your taxes while not paying their own.

SAMSON123

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #3 on: February 19, 2009, 05:25:52 AM »
"TAXES ARE FOR LITTLE PEOPLE".....Leona Helmsley...she speaks for washington also
C

Hugo Chavez

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #4 on: February 19, 2009, 05:39:29 AM »
seems a stretch.

LurkerNoMore

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #5 on: February 19, 2009, 06:15:23 AM »
Palin is in trouble for her taxes too.  Maybe she should apply for a job at Obamanation.

Soul Crusher

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Re: Does Anyone In Obama's Administration Pay Taxes?
« Reply #6 on: February 19, 2009, 06:34:43 AM »
Charges Against Stanford a Long Time Coming, Offshore Banking Experts Say
Accused Financier Under Federal Drug Investigation
By JUSTIN ROOD and BRIAN ROSS
February 19, 2009 


SHARE Offshore banking experts say that the fraud charges this week against accused financial scammer R. Allen Stanford have been a long time coming.

Authorities claim billionaire investor R. Allen Stanford may rival Madoff."There's no surprise at all," said Washington lawyer and IRS consultant Jack Blum. "This man has been on law enforcement's radar screen for the better part of 10 years."

But the SEC didn't move forward until this week, after two former Stanford Financial whistleblowers filed an alleged lawsuit, which revealed how the bank lied about too-good-to-be-true certificates of deposit.

"The problem was the published returns that many advisors use to present to clients and prospects," said former Stanford Group employee Mark Tidwell, "that now we knew that information was incorrect."

"They would lie about it and that behavior just became more and more prevalent," said Charles Well, the other former Stanford Group employee.

But now the SEC's fraud charges may be the least of Stanford's worries. Federal authorities tell ABC News that the FBI and others have been investigating whether Stanford was involved in laundering drug money for Mexico's notorious Gulf Cartel.

Authorities tell ABC News that as part of the investigation, which has been ongoing since last year, Mexican authorities detained one of Stanford's private planes. According to officials, checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico's most violent gang. Authorities say Stanford could potentially face criminal charges of money laundering and bribery of foreign officials.

Related
WATCH: Manhunt for Accused Con ManManhunt: Accused Financier Scammer Stanford MissingWATCH: Financial Titan Accused of FraudAuthorities say the SEC action against Stanford Tuesday may have complicated the federal drug investigation. The SEC had been prepared to move in earlier, but was asked to hold off because of the FBI's undercover investigation. But this week, when officials realized Stanford was moving huge amounts of cash out of his bank, they had no choice to move in, even if it jeopardized the drug money case.

The federal investigation, however, did not stop Stanford from using corporate money to become a big man at last year's Democratic convention in Denver.

A video posted on the firm's web-site shows Stanford, now sought by U.S. Marshals, being hugged by Speaker of the House Nancy Pelosi and praised by former President Bill Clinton for helping to finance a convention-related forum and party put on by the National Democratic Institute.

"I would like to thank the Stanford Financial Group for helping to underwrite this," Clinton said to the crowd at the event.

Stanford Financial was listed as the "lead benefactor" for the gathering, and Stanford was permitted to address the audience of several hundred.


Stanford contributed $150,000 to underwrite the event, said NDI president Kenneth Wollack. More recently, Stanford gave $5,000 to help pay for a luncheon hosted by the group. At the time NDI had no idea of Stanford's trouble, and it is has not had any contact with him since the December event, said Wollack.

"We had no reason to believe that a very public company that was also engaged in philanthropic work might be suspect," said a spokesperson for the National Democratic Institute, Amy Dudley.

The SEC charged yesterday that Stanford was running a fraudulent investment scheme that may have bilked customers out of as much as $8 billion.

Stanford's whereabouts are unknown and U.S. Marshals say they are searching for him.

Over the last decade, Stanford has spent more than $7 million on lobbyists and campaign contributions to Washington politics in both parties, although the vast majority of the money has gone to Democrats.