Showing posts with label IRS. Show all posts
Showing posts with label IRS. Show all posts

Did Sarah Palin admit she adopted Trig?


At the Value Voters Summit Skanky said parents who adopt are being targeted by the IRS.

How would she know?  Unless she was one of those targets.

Hey Sarah don't forget your missing e-mails


 From Mediate:

 Like nearly every other conservative with a public platform, Sarah Palin has been using former IRS official Lois Lerner’s missing emails as a tool to attack the Obama administration. But of all people, perhaps Palin should not be so quick to highlight a mysterious gap in email communication. Following her short stint as governor of Alaska, her office released a supposedly comprehensive trove of emails that had its own unexplained one-month gap.

Two weeks ago, when news of the missing emails broke, Palin quickly registered her thoughts on the matter via Twitter and Facebook. First she tweeted this missive using the opportunity to compare President Barack Obama with former President Richard Nixon:

So Sarah where are those unredacted e-mails?  If you produce them I will stop blogging about you and your trashy family.

Big surprise, Sarah Palin thinks President Obama is worse than Nixon




 From her Fecebook page:

Honest Souls in Media? Prove It. Ask Away.

Here’s a great article that pins these yahoo reporters to the mat. It could be considered funny, if it weren't so tragic, watching these crackerjack "journalists" still squirm around with their herd mentality to avoid the obvious. Their credibility is long gone. And they waste your time, America.

As the article's author asks, is there an honest soul among them? Here's a taste:

"Can any of you news hounds explain how what happened in Watergate was worse than anything this president has done? Work with me, Media Stars…it’s a serious question. Nixon had an enemies list. Obama publicly declared his desire to punish enemies and reward friends. Nixon went after whistleblowers like Ellsworth. Obama has prosecuted more administration personnel and journalists for divulging his secrets than any president in history. Nixon tried to get the IRS to hound his enemies. Obama successfully invited the IRS to persecute his. Nixon covered up the political break-in of a hotel office. Obama covered up the facts of the slaughter of an ambassador and three other Americans to protect his campaign. What did Nixon do that Obama didn’t do better and worse?"

And there's a lot more. See:

http://finance.townhall.com/columnists/shawnmitchell/2014/03/24/a-few-questions-for-the-cheer-leaders-at-abc-nbc-cbs-ap-nyt-et-al-n1813477

The article hits just a tip of the iceberg. If you've had enough, tap out. Take control and change the channel.

- Sarah Palin


Sarah honey, Benghazi and the IRS was proven to be much ado about nothing.  Why can't you realize that?  I know you have a drug problem but even Amy Winehouse acted more coherent than you, and she is dead. 

I have never heard of President Obama having journalists prosecuted for doing their jobs either.  That is news to me.

What are you going to do when President Obama leaves office on January 20, 2017?

Chuck Heath Jr is one paranoid son of a bitch



From Chuck's Fecebook page:

Coincidence? You decide.

My father, who worked multiple jobs and faithfully and honestly paid his taxes for fifty years, had never heard a word from the IRS. In 2008, his daughter was tapped to run for vice president of the United States. Since that time, he has been, in his words "horribly harassed" six times by the agency. They've tried to dig up something on him but he's always operated above board.

Government and politics are ugly. Kudos to the few that are trying to clean it up.


I seriously doubt the IRS is going after some old fart in Alaska.  If not they should be considering:

Chuck Sr.'s son in law belonged to the AIP.

His daughter has made incidenary comments about the President and his family.

His daughter nearly got Gabby Giffords killed.

Rumor has it that Chuck Sr left Idaho to come to Alaska cuz of his extreme views.

The Palins and Heaths have made a career of grifting.  Sarah and Todd were busted for not paying their property taxes.

It's pretty obvious Sarah got her worldview from Chuck Sr.

Mitt Romney enabled a company's abusive tax shelter

 This article is dated but definitely worth bringing up

From CNN.com

 Mitt Romney's refusal to release tax returns in the critical years of his income accumulation has done little to dispel the legitimate concern that arises from hints buried in his scant disclosure to date: Did he augment his wealth through highly aggressive tax stratagems of questionable validity?

One relevant line of inquiry, largely ignored so far, is to examine what exists in the public record regarding his attitude toward tax compliance and tax avoidance. While this examination is hampered because his dealings through his private equity company, Bain Capital, are kept shrouded, there are other indicators.
A key troubling public manifestation of Romney's apparent insensitivity to tax obligations is his role in Marriott International's abusive tax shelter activity, as previously reported by Jesse Drucker in Bloomberg.

Romney has had a close, long-standing, personal and business connection with Marriott International and its founders. He served as a member of the Marriott board of directors for many years. From 1993 to 1998, Romney was the head of the audit committee of the Marriott board.

During that period, Marriott engaged in a series of complex and high-profile maneuvers, including "Son of Boss," a notoriously abusive prepackaged tax shelter that investment banks and accounting firms marketed to corporations such as Marriott. In this respect, Marriott was in the vanguard of a then-emerging corporate tax shelter bubble that substantially undermined the entire corporate tax system.

Son of Boss and its related shelters represented perhaps the largest tax avoidance scheme in history, costing the U.S. many billions in lost corporate tax revenues. In response, the government initiated legal challenges that resulted in complete disallowance of the losses claimed by Marriott and other corporations.

In addition, the Son of Boss transaction was listed by the Internal Revenue Service as an abusive transaction, requiring specific disclosure and subject to heavy penalties. Statutory penalties were also made more stringent to deter future tax shelter activity. Finally, the government brought successful criminal prosecutions against a number of individuals involved in Son of Boss and related transactions not associated with Marriott, including principals at major law and accounting firms.

In his key role as chairman of the Marriott board's audit committee, Romney approved the firm's reporting of fictional tax losses exceeding $70 million generated by its Son of Boss transaction. His endorsement of this stratagem provides insight into Romney's professional ethics and attitude toward tax compliance obligations.

Like other prepackaged corporate tax shelters of that era, Marriott's Son of Boss transaction was an entirely artificial transaction, bearing no relationship to its business. Its sole purpose was to create a gigantic tax loss out of thin air without any economic risk, cost or loss -- other than the fee Marriott paid the promoter.

The Son of Boss transaction was vulnerable to attack on at least two grounds.
First, the transaction's promoters and consumers relied on a strained technical statutory analysis. Second, the Son of Boss deal violated the fundamental tax principle that the tax law ignores transactions unless they have a motivating business purpose and a substantial nontax economic effect.

In the Marriott case, the IRS raised both arguments and won on the first interpretive issue.
The Court of Claims (affirmed by the Court of Appeals) rejected Marriott's technical analysis, finding no reliable argument or authority to support it. The court therefore did not need to reach the issue of business purpose and economic substance. In subsequent decisions, involving similar transactions but other parties, the courts have sustained the second line of attack as well, finding the claimed losses to be fictitious.

The complete judicial rejection of the Son of Boss tax scheme was entirely predictable. In mid-1994, for example, roughly contemporaneously with Marriott's execution of its Son of Boss trade and well before Marriott filed its return claiming the artificial loss, the highly respected Tax Section of the New York Bar Association filed a public comment with the U.S. Treasury and IRS urging rejection of the technical claims made by promoters of such schemes.

In his key position as head of the board's audit committee, Romney was required under the securities laws and his fiduciary duties to review the transaction. In fact, it has been publicly reported that Romney was the Marriott Board member most acquainted with the transaction and to whom the other board members turned for advice. This makes sense because aggressive tax-driven financial engineering was a large part of what Romney (and Bain) did for a living. For these reasons, it is fair to hold him accountable for Marriott's spurious tax reporting.

Romney's campaign staff has attempted to deflect responsibility, arguing that he relied on Marriott's tax department and advisers.

This claim is disingenuous. In a transaction of this magnitude, sensitivity and questionableness, the prudent step would be to secure advice to the audit committee and the board from experienced and independent tax counsel, who would certainly have cautioned that the Marriott position was risky and not supported by precedent or proper statutory interpretation.

Moreover, on the key issue of the business purpose and economic substance, Romney was, or should have been, aware of the facts that the transaction had its genesis solely in tax avoidance and was a "marketed" tax shelter.

He had an insider's perspective on the motivation and lack of substance in the transaction, as well as the financial sophistication to understand the tax avoidance involved. Romney failed in his duties to Marriott and its shareholders and acted to undermine the fairness of the tax system.
No one could accuse Romney of lacking the intelligence and analytical skills to have dealt with this transaction appropriately. Indeed, his strengths in this regard were the reason the other board members relied on him.
What emerges from this window into corporate tax compliance behavior is the picture of an executive who was willing to go to the edge, if not beyond, to bend the rules to seek an unfair advantage, and then hide behind the advice of so-called experts to deflect criticism when a scheme backfires.


My theory on Mitt Romney's tax returns


As we all know Mitt Romney only released his tax returns from 2010 and 2011.  He did show his last 23 returns to John McCain back in 2008 which may or may not have prompted Gramps to pick Granny Grifter as his running mate, but the returns were pretty bad regardless.

Mitt's wife Ann told Robin Roberts on Good Morning America "We've given all you people need to know and understand about our financial situation".  That is rich considering her father in law George set the precedent for releasing financial records and tax returns back in 1968 when he was running for president.

Mitt has even bragged about taking advantage of loopholes and tax money:


I think Mitt was still drawing a salary at Bain in 1999-2001 which would prove the lie he had retired from there, or he never filed at all.

If you are running for office and refuse to release any tax returns within the past 25 years, then you do not deserve to be president.
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