Documents spell out Simon's tax deal

Mercury News ^ | 9/17/02 | Laura Kurtzman

[NormsRevenge]

Gubernatorial candidate Bill Simon employed an aggressive accounting technique using an offshore corporation to create paper losses that may have saved him millions of dollars in taxes, according to documents obtained by the Mercury News.

The extent of the tax benefits, if any, Simon accrued in 1997 could not be determined. But the financial means are laid out in intricate detail in an Internal Revenue Service suit against KPMG, the accounting firm that sold Simon the strategy.

[NormsRevenge]

KPMG .. NeXt up on the old dirt pile!
DUMP DAVI$ & the Den of Socialists



GO SIMON

[Coop]

Hmmmm. Have they run out of new ammunition against Simon already? They're having to recycle? LOL!

[eureka!]

LOL is right. "Though the IRS case really has nothing to do with Simon, we think the voters are pretty damn stupid and will be lost on that fact", thought the presstitute....

[Tuco-bad]

Simon is toast - BURNT Toast!

Good-bye to BAD rubbish.

[kellynla]

Focused like a laser beam here on November 5. DUMP DAVIS!

[Mr. Bird]

While Simon is not a target of the legal action, his use of the accounting device places him in a select group of wealthy Americans who can massage the law to minimize their tax obligation

Well, anyone could "massage" the law to minimize their tax obligation, but most people don't have the "luxury" of being subject to the exorbitant tax rates the wealthy are. Simple question for the reporter: How much has Simon paid in taxes in the past 5 years (overall, not just income taxes), and how much has the reporter?

[Taiwan Bocks]

The only ones more liberal than the Kalifornia media

are the Kalifornia university limpdik professors

all simultaneously reading and raising their right fists

sieg heil

[Cicero]

Rather than argue over hair-splitting details, which most people won't understand, Simon should point out that he paid a whopping income tax last year. How can he be a tax cheat when he paid a million and a half in income taxes last year alone? How much tax did Gray Davis pay last year on the millions he extorted out of various unions and other campaign "donors"?

For that matter, how much money did Davis donate last year to charities? And Davis?

[Coop]

What do the following numbers have in common?

36, 38, 41, 47, 45, 31, 41, 34, 43, 43, 38, 37, 41, and 42?

[Free the USA]

fyi

[Tuco-bad]

36, 38, 41, 47, 45, 31, 41, 34, 43, 43, 38, 37, 41, and 42?

That's easy.

all the numbers are > 35 and < 48.

[Coop]

That's correct. And all happen to also be Davis' polling numbers in every poll (Dem, GOP, independent) I could find from Feb 02 - present, with the most recent numbers listed first. Yes, the incumbent governor is averaging about 40% in polls. Do you see any 50s in that group of numbers? I sure don't. And the most recent numbers come after Grayout spent at least $16 million.

And since 55% is considered the point of vulnerability...

If you want to find some 50s, you'll have to look at Davis' unfavorable/disapproval ratings. There he is consistently over 50%.

[Ernest_at_the_Beach]

Thanks!

calgov2002:

California Laws for Sale

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calgov2002: for new calgov2002 articles. 

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[Still Thinking]

``I think the American public should be morally outraged at these kinds of deals,'' said David Weisbach, a University of Chicago Law School professor who worked in the Treasury Department under former presidents Bush and Clinton.

Hmmm. Let's see. Less money for the government to waste and to use to bribe the state to enfrce unpopular laws. More money in the hands of a guy that has a job. Nope. No outrage here.

[d14truth]

"While Simon is not a target of the legal action, his use of the accounting device places him in a select group of wealthy Americans who can massage the law to minimize their tax obligation."

Like TED KENNEDY, JOHN KERRY, BARBARA STREISAND, ED ASNER, the ROCKEFELLERS, AL GORE, and ALL those other wealthy Americans(Rich DemocRATS)

[d14truth]

"36, 38, 41, 47, 45, 31, 41, 34, 43, 43, 38, 37, 41, and 42?"

All two digits, same as what Gov Doofus has been 'flippin' to his constituents in California for almost 4 years.

[BibChr]

Gubernatorial candidate Bill Simon employed an aggressive accounting technique using an offshore corporation to create paper losses that may have saved him millions of dollars in taxes, according to documents obtained by the Mercury News

Great! I'm all for everybody paying as few taxes as he honestly can! Sounds like a savvy businessman. Sure would do a better job in charge of CA's economy! Go Simon!

Dan

[Coop]

All two digits, same as what Gov Doofus has been 'flippin' to his constituents in California for almost 4 years.

:-D