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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (126572)2/11/2001 4:48:56 PM
From: TimbaBear  Read Replies (1) | Respond to of 769667
 
Also, the donor is primarily responsible for the gift tax not the donee. If the donor doesn't pay the donee can be made to pay.

I think you have that wrong. Gifts are considered income for the person receiving them, and are taxable as such with the exception of the first 10,000 in any year. Gifts which are to charitable organizations as defined by the Tax Code are deductible by the person giving as outlined by that same code.



To: Little Joe who wrote (126572)2/11/2001 5:08:44 PM
From: J_F_Shepard  Read Replies (2) | Respond to of 769667
 
Re: Reagan's paid their taxes...

Nancy "borrowed" $20,000 dresses during Reagan's tenure and kept them when they left....I'd like someone to provide ref material that says taxes were paid on them, which were worth more than 1 mil new... The point is that if it's slimey for the Clintons it is for Reagan and Bush too. As an aside......Al Sharpton says he doesn't own any of the well tailored suits he wears...claims they are "borrowed" also...


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