Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Sarah Palin - Is She Hot or Not? -- Ignore unavailable to you. Want to Upgrade?

To: Neeka who wrote (559)	10/4/2008 8:14:17 AM
From: Celtictrader	Read Replies (1) \| Respond to of 781

Palin's Tax Return Mystery: Where Are The Per Diems? [Smell another scandal in the brewing? We need more Failin' Palin Family Circus comic relief!] October 3, 2008 06:14 PM In typical news-dump fashion, the McCain campaign put out the last two years of Sarah Palin's tax returns late Friday afternoon. The information contained a few interesting revelations in what was, otherwise, a fairly mundane filing. Palin, it appears, did not pay taxes on the more than $60,000 of travel reimbursements that she and her family members reportedly billed the state during her 18 months as governor. There is a fairly wonky debate over whether she should have been charged for these trips or whether it was accounted for in her salary. John Bogdanski, a tax professor at the Lewis and Clark Law School, told the Huffington Post's Seth Colter Walls that they did qualify as taxable income. It does not appear that such deductions would have been allowable for any amounts attributable to travel by her husband and children. Section 274(m)(3) of the Internal Revenue Code strictly forbids deductions for bringing spouses and dependents along on business travel unless the spouses and dependents (a) are employees of the taxpayer (here, the taxpayer is the governor), (b) are traveling for a bona fide business purpose, and (c) would otherwise be entitled to deduct the travel on their own tax returns. Unless Palin's spouse and kids are also her employees and she can show that they were away on their own businesses, their expenses would not be deductible by the governor. And therefore she cannot exclude from income any per diems attributable to any of them. (By the way, since she's the employee, the income would be required to be reported on her own return, not her kids'.) Overall, the Palins reported a gross income of $127,869 in 2006, and paid taxes amounting to $11,944 (an effective rate of 9.3 percent). In 2007, the family reported earning a gross income of $166,080 ($107,987.00 of which came from Gov. Palin) and paid taxes totaling $24,738, for a rate of 14.9 percent. But there is some discrepancy with the latter number. According to an accompanying 2007 personal financial disclosure report, Palin's "income" as governor of Alaska was $196,531.50, well above the $107,987.00 that was noted on her W2 form from that same year. An email was sent to the McCain campaign for clarification. And this story will be updated should aides reply. Palin's personal financial disclosure form also showed a moderate amount of assets. The family has ownership or interest in several properties, including tracts on several Alaska fishing spots. And Todd made between $50,000 and $100,000 from British Petroleum's retirement plan.

To: Neeka who wrote (559)	10/5/2008 4:09:35 PM
From: Peter V	Read Replies (1) \| Respond to of 781

"The Palin family's average annual income over the last two years is $146,975." This, plus a net worth of over a million dollars, makes Todd and Sarah "middle class"? "In the middle class of America which is where Todd and I have been all of our lives ..." elections.nytimes.com

To: Neeka who wrote (559)	10/5/2008 7:36:21 PM
From: Celtictrader	Respond to of 781

Yep what a great family,Palin's Husband Won't Testify in Probe by Who do these Rednecks think they are? on Fri Sep 19, 2008 1:35 pm Palin's Husband Won't Testify in Probe By MATT VOLZ, AP posted: 1 HOUR 55 MINUTES AGOcomments: 635filed under: Election News, Sarah PalinPrintShareText SizeAAAANCHORAGE, Alaska (Sept. 18) - Alaska Gov. Sarah Palin's husband has refused to testify in the investigation of his wife's alleged abuse of power, and key lawmakers said Thursday that uncooperative witnesses are effectively sidetracking the probe until after Election Day. Todd Palin, who participates in state business in person or by e-mail, was among 13 people subpoenaed by the Alaska Legislature. Palin's lawyer sent a letter to the lead investigator saying Palin objected to the probe and would not appear to testify on Friday. Cont. here news.aol.com ... 1200544260