Monday, August 26, 2002
BUSH MAY HAVE EVADED TAXES ON SALE OF BASEBALL TEAM
posted by lazarus |
Oh, my. Honour and integrity? Where?
So, here's the deal. In 1972, now-former Illinois Governor Otto Kerner reported the proceeds of the sale of his race track ($180,000, small potatoes, right?) as long term capital gains, same as Shrub did for the 15+ million from the sale of his baseball team. The tax savings? The difference between 20% and 39.6%. Good chunk of change.
Just like Bush, Governor Kerner pushed and signed legislation that made him a whole bunch of money.
And Kerner was convicted of income tax fraud, because these policies had a substantial effect on his stock's appreciation. Of course, the treatment of the sale itself is fraudulent if called long term capital gains anyway, isn't it?
So, since we have a precedent for jailing someone for these acts, and we have a precedent for suing a sitting President, any lawyers out there ready to take up the case?