Daschle Paid Back Taxes After Vetting

[Budmantom]

Originally posted by: PELarson

Originally posted by: winnar111

Originally posted by: Craig234

Originally posted by: CADsortaGUY
what is with all these libs and taxes? Why do they get to say "oops" when the rest of us would be hammered?

More like, why are wealthy people getting away with these things regularly, why are we underfunding the IRS to enforce the law, where the few who are 'vetted' pay up?

Probably because the tax code is too complicated to understand. These 3 men didn't.

And yet Obama's vetting team does! Maybe, they should vet Limbaugh and Colter for positions in the administration.

NOW THAT WOULD BE INTERESTING.

Let me use Democrat logic.....

Limbaugh and Colter do pay taxes but aren't the people that are writing the tax code and advocating higher taxes yet not paying them.

I just love how the liberal hacks defend the lefties not matter what they do.

 

[PELarson]

Originally posted by: Budmantom

Originally posted by: PELarson

Originally posted by: winnar111

Originally posted by: Craig234

Originally posted by: CADsortaGUY
what is with all these libs and taxes? Why do they get to say "oops" when the rest of us would be hammered?

More like, why are wealthy people getting away with these things regularly, why are we underfunding the IRS to enforce the law, where the few who are 'vetted' pay up?

Probably because the tax code is too complicated to understand. These 3 men didn't.

And yet Obama's vetting team does! Maybe, they should vet Limbaugh and Colter for positions in the administration.

NOW THAT WOULD BE INTERESTING.

Let me use Democrat logic.....

Limbaugh and Colter do pay taxes but aren't the people that are writing the tax code and advocating higher taxes yet not paying them.

I just love how the liberal hacks defend the lefties not matter what they do.

Stop whimpering!

 

[JohnnyGage]

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

 

[Dari]

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

He never blamed Turbotax. He was asked which tax software he used. After reiterating that he took full responsibility for what happened, he answered the question that was asked.

Stop lying and/or spreading disinformation.

 

[Dari]

Given the great expectations Americans and the world have with this Administration, it's almost guaranteed that it'll end in failure and be a one-termer. Case in point is Daschle. This guy is just another servant of entrenched interests in Washington. Obama's Administration is turning out to be as tainted as Bush's.

link

Health care groups paid Daschle $220k

Tom Daschle, tapped to be President Obama's health czar, was paid more than $200,000 by the health-care industry in the past two years, according to documents obtained by Politico.

The former Senate majority leader, who gave speeches to firms and groups with a vested-interest in the administration's upcoming health reform, collected the checks as part of a $5 million windfall after he lost reelection to his South Dakota seat.

This weekend, Daschle's nomination to be secretary of Health and Human Services became embroiled in controversy over the last-minute revelation that he had only recently paid long-overdue taxes.

Daschle made nearly $5.3 million in the last two years, records released Friday show, including $220,000 he received for giving speeches, many of them to outfits that stand to gain or lose millions of dollars from the work he would do once confirmed as secretary of Health and Human Services.

For instance, the Health Industry Distributors Association plunked down $14,000 to land the former Senate Democratic leader in March 2008. The association, which represents medical products distributors, boasts on its website that Daschle met with it after he was nominated to discuss ?the impact an Obama administration will have on the industry.?

This week, the group began openly lobbying him, sending him a letter urging him to rescind a rule requiring competitive bidding of Medicare contracts.

Another organization, America?s Health Insurance Plans, paid $20,000 for a Daschle speaking appearance in February 2007. It represents health insurance companies, which under Obama?s plan would be barred from denying coverage on the basis of health or age.

There was a $12,000 talk to GE Healthcare in August, a $20,000 lecture in January to Premier, Inc., a health care consulting firm, and a pair of $18,000 speeches this year to different hospital systems, among other paid appearances before health care groups.

The speaking fees were detailed in a financial disclosure statement released Friday, which showed that Daschle pulled down a total of more than $500,000 from the speaking circuit in the last two years, and $5.3 million in overall income.

That includes more than $2 million in consulting fees from InterMedia Advisors, a private equity firm.

Daschle, who represented South Dakota in the Senate for three terms, initially failed to pay taxes on the free use of a car and driver that had been provided to him by InterMedia?s founder, high-rolling Democratic donor Leo Hindery Jr., according to the New York Times. It reported that Daschle this month paid more than $100,000 in back taxes and filed amended tax returns.


Daschle reported $182,520.26 of ?company provided transportation? on the disclosure form, which also indicates he owns a stake in the company worth between $200,000 and $500,000, as well as a ?5 % limited partner profit sharing interest.?

But he reported that only about half of his interest is vested, and he indicates that ?upon confirmation, I will divest all my vested shares and unvested shares and relinquish any benefit to which I may otherwise be entitled.?

Daschle reported that he has been a consultant and chair of the company?s advisory board since January 2005, the same month he left the Senate after being upset in his reelection bid by Republican John Thune.

He also became an adviser to the law and lobbying firm Alston & Bird, which paid him $2.1 million in wages last year and also provided him a 401k and profit sharing plan worth between $100,000 and $250,000, according to the report.

In his three years at the firm, it?s earned more than $16 million lobbying on behalf of some of the health care industry?s most powerful interests before the department he?s in line to lead. Though Daschle himself did not register to lobby for the firm, he has advised the firm?s clients on health care issues, according to the firm?s website.

His disclosure indicates he provided ?policy advice? to such clients as United Health, AT&T and the politically connected consulting shop Glover Park Group.

After leaving the Senate, Daschle also landed a host of lucrative board spots, including with the energy giant BP Corporation, which paid him $250,000 in fees, developer CB Richard Ellis, which paid $121,000, and ethanol processor Mascoma Corporation, which paid him $75,000, according to the disclosure.

It shows that Daschle has hundreds of thousands of dollars in stocks and options from CB Richard Ellis and Mascoma, though he indicated he forfeited his unvested stock options and wrote that ?if confirmed, I will divest my vested stock options with CB Richard Ellis.?

He reported owning homes worth as much as $250,000 each in Aberdeen, S.D., and Altus, Okla., with his wife, a high-powered lobbyist for Baker, Donelson, Bearman, Caldwell & Berkowitz.

Daschle wasn?t required to disclose her income, but did report that her retirement plans through the firm were worth more than $260,000.

 

[shiner]

Can't say I'm shocked. I've always thought Daschle was a douchebag.

I'm still giving Obama the benefit of the doubt and would like to see him have success, for the country's sake, but he needs to separate himself from asshat retreads.

 

[Red Dawn]

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Fear No Evil
Obama's administration is starting to make GWB's look like a bunch of saints.

You kidding me? Rumsfeild, Ashcroft, Gonzales and Satan Himself, Cheney.

I konw how all of you liberal hacks were bent out of shape about "Joe the plumber" but now that the entire Barrrack Hussein Obama cabinet is full of tax cheats it's no big deal?

If they were aware they owed and tried to get around it then they were cheats. I don't think Joe was a cheat, in fact I think he was in a situation where he couldn't pay his taxes. A lot of people like him have trouble managing their taxes if it's not takenn out of their payroll.

BTW do you have proof the whole cabinet has tax issues or are you just talking out of your ass again?

Do you have proof that they aren't tax cheats 2 in 11 days and more are coming...

I'm not the one claiming they are you trolling scumbag.

 

[Jiggz]

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

 

[Red Dawn]

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

 

[BoberFett]

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

Normal people go to jail for $140K "mistakes". People like Daschle get cabinet positions.

You used to be so level-headed Red. Did your wife turn you into such a liberal tool?

 

[Red Dawn]

Originally posted by: BoberFett

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

Normal people go to jail for $140K "mistakes". People like Daschle get cabinet positions.

You used to be so level-headed Red. Did your wife turn you into such a liberal tool?

Well I was talking about the other guy as Daschle hasn't yet been confirmed. If he is a crook WTF would the Republicans go along and confirm him? If it was a Republican Administration you can bet the Democrats wouldn't confirm him. If this their attempt at Bipartisanship?

 

[imported_Lothar]

Originally posted by: winnar111
http://online.wsj.com/article/...tml?mod=googlenews_wsj

Tom Daschle, President Barack Obama's choice for secretary of Health and Human Services, paid about $140,000 in back taxes and interest after questions surfaced during the vetting of his nomination, according to documents being prepared by the Senate Finance Committee.

Mr. Daschle made the payments to cover a luxury car and driver provided to him by an investment firm where he was an adviser after leaving the U.S. Senate in 2005, but which he didn't report as income, people familiar with the report said. The payments also covered unreported consulting income and unwarranted charitable deductions. The tax period covered 2005 through 2007.

Mr. Daschle told committee staff that he had grown used to having a car and driver as Senate majority leader and didn't think to report the perquisite on his taxes, according to staff members.

Some senators have also raised concerns about two vacation trips Mr. Daschle took aboard a corporate jet belonging to nonprofit lender EduCap, which faces a separate probe by the Finance panel into its tax status.

The Finance Committee prepared a four-page staff memorandum for members after Republicans on the panel grew restive over the long confirmation delay. According to the memo, Mr. Daschle paid well $140,167 in back taxes and interest during the vetting process, amending tax returns from 2005 through 2007.

The changes reflected unreported income from the use of the car service valued at $255,256 for those three years, according to the Finance Committee report. He also amended his returns to cover $83,333 in unreported consulting income for 2007. And he reduced his charitable contributions by $14,963.

Mr. Daschle was supplied a car and driver by InterMedia Advisors LLP, an investment firm specializing in buyouts and industry consolidation. Mr. Daschle served as chairman of the firm's executive advisory board.

My question is, why should he have to report it as income? Hasn't the company already paid taxes on that money?
When my mom gave me my car, I didn't report it as income on my taxes. Should I have done so?
It's not like he was given $255,000 cash by the company and told "spend it anyway you see fit." If that was the case, then yes he absolutely should pay taxes on it.

Everyone has to pay SS/Medicare tax. Geithner was stupid.
Daschle was stupid in over reporting his charitable donations and not reporting his consulting income.
However, I don't see why someone should have to pay taxes on using a car/corporate jet provided by a company/person already paid for within the means of doing business.
The taxes should come from the other person's pocket, not him.

Where is CPA and Eaglekeeper when you need them?

 

[Balt]

Originally posted by: BoberFett

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

Normal people go to jail for $140K "mistakes". People like Daschle get cabinet positions.

You used to be so level-headed Red. Did your wife turn you into such a liberal tool?

Are you suggesting that favoritism and special treatment on tax issues is limited to Democrats only?

 

[Jiggz]

Originally posted by: Red Dawn

Originally posted by: BoberFett

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

Normal people go to jail for $140K "mistakes". People like Daschle get cabinet positions.

You used to be so level-headed Red. Did your wife turn you into such a liberal tool?

Well I was talking about the other guy as Daschle hasn't yet been confirmed. If he is a crook WTF would the Republicans go along and confirm him? If it was a Republican Administration you can bet the Democrats wouldn't confirm him. If this their attempt at Bipartisanship?

Oh, he will be confirmed! Just like the other guy in the Treasury did! Now if it was you or me or even the likes of Al Capone, then we go to the slammer!

 

[HannibalX]

Is everything supposed to be ok now that he has paid back the money he stole?

Are we supposed to be all hugs and sunshine when talking about him now? They guy is a fucking crook, plain and simple.

 

[JohnnyGage]

Originally posted by: Dari

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

He never blamed Turbotax. He was asked which tax software he used. After reiterating that he took full responsibility for what happened, he answered the question that was asked.

Stop lying and/or spreading disinformation.

Calm down Dari. My mistake.

 

[Jiggz]

Originally posted by: Lothar

Originally posted by: winnar111
http://online.wsj.com/article/...tml?mod=googlenews_wsj

Tom Daschle, President Barack Obama's choice for secretary of Health and Human Services, paid about $140,000 in back taxes and interest after questions surfaced during the vetting of his nomination, according to documents being prepared by the Senate Finance Committee.

Mr. Daschle made the payments to cover a luxury car and driver provided to him by an investment firm where he was an adviser after leaving the U.S. Senate in 2005, but which he didn't report as income, people familiar with the report said. The payments also covered unreported consulting income and unwarranted charitable deductions. The tax period covered 2005 through 2007.

Mr. Daschle told committee staff that he had grown used to having a car and driver as Senate majority leader and didn't think to report the perquisite on his taxes, according to staff members.

Some senators have also raised concerns about two vacation trips Mr. Daschle took aboard a corporate jet belonging to nonprofit lender EduCap, which faces a separate probe by the Finance panel into its tax status.

The Finance Committee prepared a four-page staff memorandum for members after Republicans on the panel grew restive over the long confirmation delay. According to the memo, Mr. Daschle paid well $140,167 in back taxes and interest during the vetting process, amending tax returns from 2005 through 2007.

The changes reflected unreported income from the use of the car service valued at $255,256 for those three years, according to the Finance Committee report. He also amended his returns to cover $83,333 in unreported consulting income for 2007. And he reduced his charitable contributions by $14,963.

Mr. Daschle was supplied a car and driver by InterMedia Advisors LLP, an investment firm specializing in buyouts and industry consolidation. Mr. Daschle served as chairman of the firm's executive advisory board.

My question is, why should he have to report it as income? Hasn't the company already paid taxes on that money?
When my mom gave me my car, I didn't report it as income on my taxes. Should I have done so?
It's not like he was given $255,000 cash by the company and told "spend it anyway you see fit." If that was the case, then yes he absolutely should pay taxes on it.

Everyone has to pay SS/Medicare tax. Geithner was stupid.
Daschle was stupid in over reporting his charitable donations and not reporting his consulting income.
However, I don't see why someone should have to pay taxes on using a car/corporate jet provided by a company/person already paid for within the means of doing business.
The taxes should come from the other person's pocket, not him.

Where is CPA and Eaglekeeper when you need them?

I believe the reason the "cash gifts" were discovered is because the Giver actually filed for tax deductions for the gifts. Which means taxes needs to be paid by the Receiver! In your "mom->car->me" analogy, your mom already paid all taxes for the gift and did not file for tax deductions (as gifts or contributions). If she wanted, she could have filed tax deductions for giving you the car, the same way when we contribute or give donations to charities.

 

[jpeyton]

Is anyone here surprised?

This is the same tactic used in the election.

The Obama administration's policies are so popular, attacking them isn't a popular idea with Republicans.

Character assassination is what they intend to do for the next eight years. Although at some point, they'll run out of characters.

 

[HannibalX]

Originally posted by: jpeyton
Is anyone here surprised?

This is the same tactic used in the election.

The Obama administration's policies are so popular, attacking them isn't a popular idea with Republicans.

Character assassination is what they intend to do for the next eight years. Although at some point, they'll run out of characters.

Daschle assassinated his own character and integrity. No one helped him.

 

[Jaskalas]

Originally posted by: iFX

Originally posted by: jpeyton
Is anyone here surprised?

This is the same tactic used in the election.

The Obama administration's policies are so popular, attacking them isn't a popular idea with Republicans.

Character assassination is what they intend to do for the next eight years. Although at some point, they'll run out of characters.

Daschle assassinated his own character and integrity. No one helped him.

Culture of corruption. Democrats were practicing character assassination monthly for the past eight years. Hell, they got rid of Newt Gingrich well before then. That is how this non-violent war between the two parties works.

 

[Red Dawn]

Originally posted by: Jaskalas

Originally posted by: iFX

Originally posted by: jpeyton
Is anyone here surprised?

This is the same tactic used in the election.

The Obama administration's policies are so popular, attacking them isn't a popular idea with Republicans.

Character assassination is what they intend to do for the next eight years. Although at some point, they'll run out of characters.

Daschle assassinated his own character and integrity. No one helped him.

Culture of corruption. Democrats were practicing character assassination monthly for the past eight years. Hell, they got rid of Newt Gingrich well before then. That is how this non-violent war between the two parties works.

How did they get rid of him when it was the Republicans that canned him.

 

[winnar111]

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

If that's your standard, Rumsfeld, Ashcroft, Gonzo, etc, were confirmed by Democrats.

 

[JS80]

Originally posted by: Lothar

Originally posted by: winnar111
http://online.wsj.com/article/...tml?mod=googlenews_wsj

Tom Daschle, President Barack Obama's choice for secretary of Health and Human Services, paid about $140,000 in back taxes and interest after questions surfaced during the vetting of his nomination, according to documents being prepared by the Senate Finance Committee.

Mr. Daschle made the payments to cover a luxury car and driver provided to him by an investment firm where he was an adviser after leaving the U.S. Senate in 2005, but which he didn't report as income, people familiar with the report said. The payments also covered unreported consulting income and unwarranted charitable deductions. The tax period covered 2005 through 2007.

Mr. Daschle told committee staff that he had grown used to having a car and driver as Senate majority leader and didn't think to report the perquisite on his taxes, according to staff members.

Some senators have also raised concerns about two vacation trips Mr. Daschle took aboard a corporate jet belonging to nonprofit lender EduCap, which faces a separate probe by the Finance panel into its tax status.

The Finance Committee prepared a four-page staff memorandum for members after Republicans on the panel grew restive over the long confirmation delay. According to the memo, Mr. Daschle paid well $140,167 in back taxes and interest during the vetting process, amending tax returns from 2005 through 2007.

The changes reflected unreported income from the use of the car service valued at $255,256 for those three years, according to the Finance Committee report. He also amended his returns to cover $83,333 in unreported consulting income for 2007. And he reduced his charitable contributions by $14,963.

Mr. Daschle was supplied a car and driver by InterMedia Advisors LLP, an investment firm specializing in buyouts and industry consolidation. Mr. Daschle served as chairman of the firm's executive advisory board.

My question is, why should he have to report it as income? Hasn't the company already paid taxes on that money?
When my mom gave me my car, I didn't report it as income on my taxes. Should I have done so?
It's not like he was given $255,000 cash by the company and told "spend it anyway you see fit." If that was the case, then yes he absolutely should pay taxes on it.

Everyone has to pay SS/Medicare tax. Geithner was stupid.
Daschle was stupid in over reporting his charitable donations and not reporting his consulting income.
However, I don't see why someone should have to pay taxes on using a car/corporate jet provided by a company/person already paid for within the means of doing business.
The taxes should come from the other person's pocket, not him.

Where is CPA and Eaglekeeper when you need them?

Your mom giving you a car = gift. You do not have to pay taxes on a gift. Your mother has to pay a gift tax if it goes above the exception "bucket."

Often times companies give additional cash compensation to cover taxes on fringe benefits to executives and directors such as a car and driver.

 

[Moonbeam]

I don't like this one damn bit. I think those two assholes, at a minimum, should appear before the American people to explain why they failed to pay taxes. I want to hear from them. Otherwise, maybe they should be hooted at wherever they go in public.

 

[BoberFett]

Originally posted by: Balt

Originally posted by: BoberFett

Originally posted by: Red Dawn

Originally posted by: Jiggz

Originally posted by: JohnnyGage

Originally posted by: Red Dawn
If never nominated and vetted I bet both of these guys would never have known they owed taxes.

Actually Timothy Geithner signed a piece of paper with the International Monetary Fund saying he would have to 1099 his taxes--and was actually paid extra to compensate for this; and then promptly blamed Turbo Tax for the mistake. He obviously didn't use Turbo Tax Deluxe!

No Tax software regardless of being Deluxe or Pro would ever caught this "mistake" for it was never a mistake. It was an intentional personal oversight without any intention of paying it until he was vetted! Since he will be making a lot of $$$ in his new position, that was the only compelling reason to pay the back taxes. This technique is the so called "Pay to Play"! Got it? You have to pay so you can play; which guarantees you will get your $$$ back probably 1000X more!

If he did it purposely isn't that against the law? If a fine all that happens? I thought you did prison time for purposely cheating. WTF was he confirmed by the Senate including members of the GOP if he committed a crime?

Normal people go to jail for $140K "mistakes". People like Daschle get cabinet positions.

You used to be so level-headed Red. Did your wife turn you into such a liberal tool?

Are you suggesting that favoritism and special treatment on tax issues is limited to Democrats only?

No, the last 8 years were rife with corruption. So much for Obama's change. :roll: