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

To: Raymond Duray who wrote (274329)	7/12/2002 7:35:04 PM
From: DOUG H	Read Replies (1) \| Respond to of 769670

Morse is full of crap but there is stink in the air. I wanna see people go to jail. How'd you know I was werkin? That's a sucker bet...

To: Raymond Duray who wrote (274329)	7/12/2002 7:40:47 PM
From: Arthur Radley	Read Replies (2) \| Respond to of 769670

Crooks, Crooks and more Crooks! Now we know why Simon refused to release his income data for the California voters....and for every dollar he spends on his campaign...a wasted dollar, so I hope he spends alot of his own money. "Associated Press IRS Names Investors in Tax Shelters By MARK SHERMAN Associated Press Writer IRS Says GOP Nominee for Calif. Governor Among Dozens of Participants in Suspect Tax Shelters WASHINGTON (AP) -- California's Republican gubernatorial nominee, movie and telecommunications executives and the late race car driver Dale Earnhardt are among investors identified by the Internal Revenue Service as participants in tax shelters now under federal investigation. ADVERTISEMENT Bill Simon, the GOP nominee; his late father, former Treasury Secretary William E. Simon; Gary Winnick, chairman of the bankrupt telecom giant Global Crossing Ltd.; Bob Shaye, chairman of New Line Cinema; and Earnhardt were among scores of names made public by the Internal Revenue Service. The disclosure was included in court documents in which the government is seeking information about tax shelters from KPMG LLP. The Justice Department, acting for the IRS, sued KPMG and BDO Seidman LLP on Tuesday for information about the tax shelters they have promoted. The firms said the documents at issue are protected by client confidentiality privileges. IRS spokesman Frank Keith said the unusual disclosure was "designed to substantiate for the judge the basis of the allegation being made in the filing." The names came from KPMG, not from individual taxpayer filings, Keith said. The lawsuits are part of an attempt to rein in shelters that officials estimate cost the government tens of billions of dollars in lost revenue annually. Companies can face sanctions for promoting shelters that only serve to avoid paying taxes. A growing number of corporate accounting scandals has prompted increasing political pressure to make corporate officials more responsible. The investors disclosed by the IRS were participants in at least two shelters marketed by KPMG. The company has turned over some information, including a list of names, but the government wants more. According to an IRS agent who examined the shelters, both used foreign investments and tax rules to create large artificial losses to balance real gains. KPMG maintained it has done nothing wrong, either through the options it presented investors or its decision to withhold documents. "It's disappointing that the IRS has deemed it appropriate to disclose the identity and embarrass individual taxpayers without having expressed any deficiencies in their transactions to the listed parties," KPMG said. "Individual taxpayers have a right to expect privacy in the tax system, which has been violated as part of the IRS' public filing." BDO Seidman refused to turn over client lists, saying the IRS demand for documents was too broad and vague. Stephen Moore, a senior fellow at the libertarian think tank Cato Institute, said the unusual disclosure violated investors' privacy rights. "It's a return to the classic bullying tactic that the IRS used to use in the past," Moore said. "Not only haven't these people been convicted, they haven't even been charged with a crime." The IRS has so far issued 148 summonses to 11 firms seeking seeking tax shelter documents. Officials said more are likely. The law requires promoters of tax shelters to register each one with the IRS before it is marketed and to keep a list of investors that must be made available to the IRS within 10 days of its request. The lawsuits ask a federal judge to order KPMG and BDO Seidman to comply with 29 summonses between them. In KPMG's case, the documents go back to arrangements marketed since 1998; the lawsuit against BDO Seidman seeks documents dating to 1995. The issue could be politically potent in California, because it focuses new attention on Simon's refusal to release his federal and state income tax returns, as his opponent, Democratic Gov. Gray Davis, has done. J. Peter Simon, the candidate's brother and chairman of the family investing firm William E. Simon and Sons, said the Simons relied on professional tax advice from KPMG and others. "The matter at hand is between the IRS and KPMG," J. Peter Simon said in a statement issued by his brother's campaign. "Like many Californians, because of the technical complexity of IRS regulations, we have utilized the advice and guidance of tax professionals, including KPMG, other accountants and tax attorneys." Last month, the IRS announced a settlement with the accounting firm PricewaterhouseCoopers LLP in a similar dispute that resulted in the company paying an undisclosed amount. The Treasury Department has asked Congress for greater powers and tougher penalties in its bid to rein in shelters. ------

To: Raymond Duray who wrote (274329)	7/12/2002 8:09:25 PM
From: Arthur Radley	Read Replies (3) \| Respond to of 769670

The Republicans start their criminals now at a young age, getting a high school student to undertake fraudulent activity taught to her by her father. Concerning my earlier post, it seems that Rush Limbaugh was so impressed with this young criminal that he selected her phone call as his call of the day. Everyone should listen to this call and see young Republican criminals at their finest. And to think, these are the people that call themselves Americans. rushlimbaugh.com