Bombshell report shows Colorado Gov. Jared Polis avoided paying taxes

[Calista241]

Source: Axios

Colorado's Democratic Gov. Jared Polis is under fire after a new trove of documents revealed he used loopholes to avoid paying federal income taxes for years.

Driving the news: A ProPublica report published Thursday found Polis, a tech entrepreneur and former congressman, used donations and financial arrangements to get out of paying federal income taxes in 2013, 2014 and 2015.

Of note: His wealth reached an estimated $306 million in 2017, and he was ranked the third-wealthiest member of the U.S. House.

From 2010 to 2018, Polis' tax rate was just 8.2% even though his income averaged $1.5 million during that period. The rate is far below the 19% level owed by an average worker, the investigative news outlet wrote.

Read more: https://www.axios.com/local/denver/2021/11/05/propublica-colorado-gov-jared-polis-avoided-paying-taxes

[Historic NY]

1. Imagine if everyone stopped paying taxes.

[Ponietz]

19. It may come to that soon

[JohnSJ]

2. The question is were they legal loopholes or not? If they were legal, they should be going after

those who legislated these loopholes

[azureblue]

4. they had to be legal

He has accountants doing his taxes, like all rich people do. This is a half ass smear piece - any person with a pile of money, from musicians to surgeons to entrepreneurs, is going to use the tax code to reduce the tax load.

[h2ebits]

6. This IS the problem. . .

Well stated. The tax loopholes for the rich need to be eliminated. We keep talking about the tax rates but there are so many loopholes in the federal tax code for the rich--put in place by the rich--that we could levy a 100% tax rate and they would still pay little to no taxes.

[JohnSJ]

9. It makes no sense to go after people who take advantage of legal loopholes. You need to

go after the legislators to change the laws

[calimary]

16. Yep!

[MichMan]

7. Unless we disagree with them politically

Then they are all grifters, cheats, criminals etc.

[calimary]

17. Oh jeez...

My first glance at your post, I miss-read “criminals” and thought it was “cannibals”!

Oops!

But, on second thought… the worst cases on that side of the aisle has accused our side of the aisle of killing and eating children. Which takes me directly to - that side of the aisle indulges BIGTIME in projection, actually DOING the awful anti-social and illegal and immoral things they accuse us of doing.

So, seriously, who knows?




(Well, semi-seriously anyway … )

[JohnSJ]

8. Then this is no "bombshell report", and you are correct, it is a smear piece

[Probatim]

28. Wasn't TFG seen as a genius for using legal loopholes to pay no taxes for years?

This is a non-story.

[elleng]

21. right

[bronxiteforever]

24. +100

[viva la]

3. 8.2% sounds pretty generous compared to many millionaires

Trump paid $750, remember.

Is there really no way to get the really rich to pay taxes?
If I were that rich, I'd be embarrassed not to pay my fair share.

Then again, that's why I'll never be rich, with an attitude like that.

[usaf-vet]

11. Although I don't really believe it. Maybe the $750 tells us just how "un-rich" he is.

The upside is all of us who pay more than $750 can say we are richer than the BIG LIAR.

I needed something to brighten my day!!

[viva la]

12. We are all richer than Trump because we love... and are loved.

Okay, okay, I'm feeling sort of mushy today.

[Harker]

27. That's clearly the biggest measure of his poverty. n/t

[usaf-vet]

36. Correct!

[The Mouth]

35. My dad actually loaned money to Nelson Rockerfeller

It was a dime, he needed to make a phone call, they were at a conference or such. But he got a kick out of saying he loaned money to a Rockefeller for the rest of his life.

[viva la]

38. Did Rocky pay him back?

Last edited Sat Nov 6, 2021, 02:39 PM - Edit history (1)

[ProfessorGAC]

37. Agreed!

Now, it's true that he's a debacle as a businessman or investor.
And, it's true that had he taken daddy's money from the 70s (8 "loans&quot and 3 more in the 80s, invested it broadly in the S&P, he could have lived like a king, and been worth $250 million BEFORE he got daddy's company.
Then, if he did the same with that money instead of running it into the ditch, he'd have had time to accumulate at least $4 billion for real.
Of course, at no time has the net value of the TO, plus his paltry (by comparison) personal holdings ever approached a billion.
At this point they are at best net $100 million, and likely close to underwater.
I'd still bet $750 in taxes is based on shady accounting and accelerated depreciation, plus the TO paying all personal expenses as business related, so he probably owed more.
But, he wasn't avoiding taxes on millions upon millions of profits. Such profits never existed.

[azureblue]

30. TRump lied on his taxes

Apples to Orange He undervalued some property and over valued expenses. Which is why he does not want his taxes released. It's one thing to lie on your taxes and another to take advantage of loopholes.

The problem is that the GOP made those loopholes, some practically crafted of a single person. The tax code, especially for the super rich, needs to be revised.

[Wingus Dingus]

5. Meh. He has good accountants, like all wealthy people.

[Thomas Hurt]

10. If he were a Republican this would make him clever and an astute businessman.

[Lonestarblue]

13. Smear job. You think someone like Tucker Carlson or Sean Hannity pays much in taxes.

Rich people bought loopholes from members of Congress, so it is not illegal to use them. Unethical, yes.

[theworldatlarge]

14. RW BS from RW rag

Loopholes are made for the wealthy to manipulate, after all it's the wealthy people making the rules. So yes blame the rule writers. Is nice to be king

[BradBo]

15. Big deal. He shouldn't get any push back from the rethugs.

Every last one of those is a crook.

[Fla Dem]

18. Typical Jim VandeHei reporting, RW stooge, founder and CEO of Axios and co-founder of Politico.

Did I miss the article that went after RW politicians who didn't pay taxes like, I don't know, maybe Trump?

Not saying I support what appears to be a outright manipulation of Gov Polis' income and tax reporting, but just want equal spotlights shown on RW pols.

Anyone look into Vandehei's taxes?

[Pobeka]

20. BOMBSHELL report: Pobeka uses standard deduction to avoid paying taxes.

BOMBSHELL report: Rain falls down.

Geeze, what a disingenuous smear piece.

[ibegurpard]

22. Who cares

Hypocrisy was murdered dead and buried by Republicans.

[DeeNice]

23. "That makes him smart" ...anybody recall someone else saying as much? nt

[Freethinker65]

25. Taking advantage of legal loopholes available to the Uber wealthy?

Trump and the GOP (and quite a few wealthy Democrats) would call that being smart. If the law is in your favor, why not exploit it to your advantage as much as possible.

Change the fucking tax laws.

[Behind the Aegis]

26. Doesn't everyone avoid paying taxes by using "loopholes" or sometimes, deductions?

Talk about a non-story.

[Dawson Leery]

29. The GOP has no business talking about this.

GOP tax loopholes are why he paid so little. With that said, he paid far more than Trump and Bezos.

[TygrBright]

31. When Weehands McNodick boasted about this, wasn't he called a "smart guy"? n/t

[JI7]

32. The media really sucks.

[Bengus81]

33. So what? The problem is the tax CODE that lets this happen and that's what Dems want changed

Hell...I doubt Buffett paid much either over the last decade and he's said as much and said he thinks it's wrong.

[nitpicker]

34. Are they counting SS/Medicare?

That's 7.65% off a paycheck, but then it gets taxed again.

There is a limit of 147K to be taxed this year.

So one would expect a slump in tax rates after one gets past 147K.

[Hotler]

39. So, TFG used lots of loopholes and is still walking free. nt

[TexasBushwhacker]

40. We need to have an Alternative Minimum Tax that means something

and it should include an AMT for Social Security and Medicare.