Sunday, April 17, 2011

Eric Holder, Tax Deadbeat

The next time the IRS audits you, you can invoke the Eric Holder defense: Simply say you "weren't aware" you failed to pay your taxes. See how far that gets you.
US Attorney General Eric Holder and his brother failed to pay the property taxes on their childhood home in Queens, which they inherited last August after their mother died, The Post has learned.

And because their ailing mom, Miriam, was already behind on two quarterly tax bills when she succumbed to illness on Aug. 13, the charges went unpaid for more than a year -- growing to $4,146.

It wasn't until The Post confronted Holder last week about the delinquency that he and younger brother William Holder finally paid up Friday, including $73.14 in interest.

The siblings "weren't aware of the initial missed payments, which happened in the last months of their mother's life when she was battling illness," said a Holder spokesman.

The subsequent unpaid bills "occurred during a time period in which the disposition of the estate is still being resolved," said Department of Justice spokesman Matthew Miller.
Ignorance of the law is no excuse. But when you're Eric Holder, you're clearly above the law. I wonder how long he would have avoided paying taxes if the Post hadn't pointed it out to him?

Speaking of tax deadbeat pals of Obama's, his good buddy Al Sharpton still owes millions, with no sign he's ever going to pay up.
The Rev. Al Sharpton's nonprofit has vowed to clean up its tax debt, but it's unclear whether the charity's funds will be used to pay the activist's private liabilities.

The National Action Network's board of directors recently voted to approve funds "to resolve tax liens and outstanding tax issues," according to a NAN statement.

The organization had owed more than $1.1 million in payroll taxes at the end of 2009, according to the group's audited financial statements. But it's not clear how much of that debt has been paid.

Sharpton, NAN's president, owes $2.6 million in federal liens and $1.3 million in state personal and corporate liens for Rev Al Communications.
But Obama insists "the rich" need to pay more. Except where his friends are concerned.
Although Obama is an Ivy-educated citizen of the world, and president of the most powerful nation on earth, one has to wonder: Is Warren Buffett the only successful American the President knows?

"I don't need another tax cut, Warren Buffett doesn't need another tax cut," the President proudly professed to the American people.

But let's examine why that statement is so unnerving to investors hoping to see their lawmakers engage in an honest budget debate. For starters, Warren Buffett undoubtedly files one of the most unique tax returns in America, replete with tens of millions in capital gains and virtually no earned income. Judging from his tax returns in recent years, Buffett "earns" about $500,000 in salary and fees as a corporate director, but cashes out tens of millions more in capital gains and dividends stemming from his $45 billion dollar stake in Berkshire Hathaway.

As such, he pays about 17 percent of his "income" in taxes. To be sure, this rate is low, especially compared with the millions of Americans who are paying twice as much (35 percent) with virtually no deductions.

The bulk of these so-called "rich" Americans earn less than $500,000 a year before taxes, and hardly qualify as "rich" in Buffett terms, merely quite comfortable. These Americans proudly paid their taxes this week, a task that, in states like New York, means nearly 50 percent of their earned income goes to the government.

So it only adds insult to injury that President Obama, rather than praising these hard-working tax-payers, demonizes them by lumping them in with the Buffett types -- billionaires who clip (bond) coupons and rake in the capital gains at a much lower 15 percent rate.
Of course these folks could always voluntarily pay more, yet never seem to.
Eric Schoenberg says to sign him up for paying higher taxes. Schoenberg, who inherited money and has a healthy portfolio from his days as an investment banker, has joined a group of other wealthy Americans called United for a Fair Economy. Their goal: Raise taxes on rich people like themselves.

Shoenberg, who now teaches a business class at Columbia University, said his income is usually "north of half a million a year." But 2009 was a bad year for investments, so his income dropped to a little over $200,000. His federal income tax bill was a little more than $2,000.

"I simply point out to people, `Do you think this is reasonable, that somebody in my circumstances should only be paying 1 percent of their income in tax?'" Schoenberg said.

Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee, said he has a solution for rich people who want to pay more in taxes: Write a check to the IRS. There's nothing stopping you.

"There's still time before the filing deadline for them to give Uncle Sam some more money," Hatch said.
Don't expect them to. These hypocrites are busy finding more tax shelters. Besides, they need to save some dough so they can "invest" in Obama's re-election.


Randy-g said...

Is there anyone left in barryville now who was not a tax cheat?

Michael Shorts said...

Are you trying to score political points over the death of Eric Holder's mother? Shame on you.

Shoebox said...

Obama himself has had income that would put him in his "rich" category since becoming a Senator.  As near as I can tell, he hasn't paid a penny more to the IRS than what was required.  Incidentally, his charitable contributions are also substantially below the average for his income bracket.

palintologist said...

Once again, the Ebola Administration succeeds in inducing nausea.  I hope to Gaia that one of the prez'l candidates mentions all of these scofflaws in a campaign commercial to demonstrate to all the parasites how their betters are indeed in charge.  (I'm looking at you, Sarah!)

Alexander Mitchell said...

How about an additional irony?

As I understand it from two online sources, "United for a Fair Economy" is a 501(c)3 TAX-EXEMPT ORGANIZATION!!!!!!

NaSa said...

stfu ...your precious President Obozo tried to score political points over Paul Ryan's plan by telling him that he was trying to reduce the deficit by going to take away money meant for children with autism and down syndrome - where was your sense of disgust then you fu**king partisan hack ?

shame on partsan hacks like you....and yes eric holder is a tax cheat.. after all he was a lawyer for a bigger tax cheat like marc rich and he sure learnt some tricks from all his tax cheatig clients..

go cry yourself a river you shameless wretch

TMLutas said...

When their mother died, she had an executor of her estate. Whoever fulfilled that role had the responsibility to pay the taxes out of the estate. So who was executor?

jammiewearingfool said...

Are you for real?

chris rennick said...

I'd like to see Mr. Schoenberg's tax return to se how he did it.  How is it that regular Americans are getting hit with the AMT but others with legal/accounting/criminal training can weasel out of their taxes?  Is the 200K from gross proceeds before losses and thus does not represent taxable income? Is this is some rhetorical BS akin to saying I bought 1 million in stocks and sold them for 200 thousand and look I didn't pay any taxes, aren't I clever?  On the other hand if there are legitimate techniques for paying less taxes then it is our legal duty to pay no more than the law requires.

As amusing as it is to note the hypocrasy of those who conspire to force others to pay higher taxes, I'd prefer to not even encourage the notion that there is any virtue in voluntarily sudsidizing our governement's destructive overspending.

Bonfire of the Idiocies said...

Maybe the Democrats should change the name of their circus-clown party to Hypocrats.  Nah, the stupid media would probably think they're all doctors.  Make it Democrites.

Michael Shorts said...

I think Obama is the worst president in my lifetime, but I would never score cheap political points over the death of a man's parents.

Michael Shorts said...

Yes, I'm for real. Have some sympathy for a man who lost his mother. Geithner had no excuse.

rich b said...

First of all, Eric Holder is the coward he accused white Americans of being by NOT prosecuting the Black Panther douchebags who were already found guilty of violating the voting rights of some citizens in Philly. He's also a racist and a lying POS. No wonder Oprah won't marry his skinny little ass.

<span><span><span>All of these rich lying bastards are so full of shit they ought to have brown eyes. If these people possess some sort of guilt for making money they can start cutting checks to charities. Either that or pay for young men and women who aren't athletes but have the grades and grey matter to go to college. That way scholarships won't be wasted on jocks who won't graduate anyway and most likely ever make the pros no matter what the sport.      
And I'm sick of all of this phony "white guilt" and the bullshit that it implies. Start giving away the cash to the truly needy if you don't want it, but quit the bullshit about not paying enough in taxes when you're using every loophole under the Sun to avoid paying taxes. You're NOT fooling anyone.</span></span>  
</span><span>But whatever you do, DO NOT give it to the government of the USA. Give it away to someone who is truly needy and won't waste the money - and that my friends is NOT the government of the USA. The Government will waste the money and they already steal enough from the citizens of this country now. They don't need to steal more. Give it to someone who is in real need, not the Treasury of the United States. The Treasury can't keep track of 1/3 of the money they process now. So where do you think that money goes?  
<span><span>And if Warran Buffet wants to cut me or some other broke fool a check, I can guarantee him that the cash will go to a good use. My family. 

Zaneta McGaha said...

"Taxes are for the little people." Oh, and don't forget the billions owed by IRS employees... and the White House workers who owe, too:

david djman114 said...

Maybe he and his bro can get the New Black Panthers to pony up for mama's back taxes.   They owe their brother-in-crime big-time for past favors.   

Bottomfish said...

So the argument for the rich paying more in taxes is according to Schoenberg emotional not logical.

SukieTawdry said...

Forget the income tax. You'll never get the wealthy where they live by taxing income and all these blowhards know it. Somebody in the House needs to introduce a bill levying a flat tax on wealth or net worth. Then we could watch all the "tax me" millionaires and billionaires howl like the little hypocrites they are.