Arianna's Federal Income Tax: $771 for the last 2 years!

[VOX]

I like Arianna very much, but she's going to take a pasting over this. I doubt that she did anything that wasn't legit, but I fear that she does have many advantages (as do most wealthy people) with her available deductions. She is going to be hit hard by the RW. The Los Angeles Times is running the following story:

http://www.latimes.com/
August 14, 2003
Huffington Paid Little Income Tax

The candidate for governor has criticized 'fat cats' for avoiding taxes. She denies taking advantage of loopholes and unfair deductions.
TV commentator and author Arianna Huffington, who launched her campaign for governor with criticism of "fat cats" who fail to shoulder a fair share of taxes, paid no individual state income tax and just $771 in federal taxes during the last two years, her tax returns show.
<snip>

[Paragon]

1. That's the current system for you

With people like Arianna in office, maybe we can start to turn things around.

"Rich people make all of the money, pay none of the taxes.
The middle class pays all of the taxes.
Poor people are there to scare the shit out of the middle class."
- George Carlin

[robbedvoter]

9. Yeap. She's a victim of the system, poor baby - just like Ralphie

(I am the one who baked the pie that was thrown at him)

[Paragon]

13. Yes, all rich people are bad.

Thank you for your input. Isn't it nice and cool with your head in the sand?

[shance]

16. Exactly. Atleast Arianna is trying to bring fairness to all Americans

And not trying to get even richer with supporting the tax cut.

I say bully for her!!

Atleast she can now put even more money to worthy causes.

[RummyTheDummy]

26. That's the most massive rationalization I've read in quite some time.

WHoa.

[SoCalDem]

2. Here's the deal.. She's Rich...She gets child support ...

She probably owns that "mansion" free and clear, and PAYS property taxes on it..

She was married for many years to a millionaire, and she got a tidy settlement....

She could do what a lot of the indolent rich do.. flit around the world going to fashion shows and going skiing, but she has chosen to get into the mud wallow and get dirty with the best of them, while TRYING to wake people up.. Let's at least give her credit:)

She is a writer who does not earn a "paycheck"..

She gets an advance, and lives off of that while she researches and writes..

She has accountants who take advantage of every loophole they can (like we all do)...

It's no surprise that the Times did this hit piece on her just before her press conference..

The next time she has an event scheduled, look for more.. Rove knows she can hurt the bushco now that she is finally getting mainstream exposure..

They will hit her and hit her HARD..

Arianna will stare them down..:)

[madmax]

3. That's right SoCalDem

I agree!

Kick Ass, Arianna!!

[realFedUp]

11. Arianna knew the story was going to come out.

Anyone handing over their taxes to be looked at in
this recall would have to be aware that the press would
take a hard look. I don't think Arianna's filings will
be the only ones scrutinized.
I like her, but no one who is running in this recall should get a free pass.

[HalfManHalfBiscuit]

4. See Ya Arianna

You are now officially done.

You can now go back to being a gadfly publicity hound. Instead of a gadfly publicity hound running for Governor.

[madmax]

6. I would gladly suffer the likes of gadfly Arianna

over Coulter, Nofacts, Carlson, et.al.

:spank:

[Rooktoven]

22. Don't think so...

Hey, the right parades their "converts", why can't we?

What was the quote about more rejoicing in heaven for one sinner, than...

Go Arianna!

[Clete]

5. She should turn it into a campaign message.

She could show just how much the rich can legally avoid paying taxes because of all the sweetheart loopholes allowed to them.

[sandnsea]

20. If she did that, and apologized

I would be all for forgiving this. Otherwise, the way I see it is she's getting over just because she can afford the attorney and accountant to set up her tax structure in a way the rest of us can't afford. That's the way the Pigs at the Trough do things.

[Clete]

24. Well, I don't know how you pay your taxes, but

if there are tax breaks you can take legally, why shouldn't you if it's the common mainstream way of doing things? How do you think all these tax breaks the super rich are going to get at our expense for the next decade are going to come about? They are going to come about in their tax returns and all the schedules filed with them and all very legally. Now Arianna could use her tax return as an example of what is wrong with our system, if she is highly criticized for it.

However, I find her tax return pretty straightforward. I mean she was criticized for her makeup and hairdos. She is in front of the camera a lot and she does a lot of lectures. She can't look like a dog. It is a legitimate business expense.

The real problem is once the tax laws are in place, the forms created by the IRS have to be followed. If you get tax breaks it's because the laws allow it. So in the future, instead of tax cuts going to those who need it, they will go to those who don't, but it will all be very legal and according to form.

[sandnsea]

28. I don't have her lawyer and accountant

If I did, there's no doubt I'd be alot richer. I also have this little thing called ethics and if something is wrong, it's wrong. I'm a big believer in law, but not the laws that have been passed specifically to create loopholes for people who already have more money than they'll ever need. Saying it's in the law so I can do it is no better than telling someone it's in the Bible therefore you're going to hell. It's dogmatic, not taking the spirit of what law and faith are all about.

[robbedvoter]

7. You must all be Nader haters to post this!

How dare you post sumptin' bad about Holly Arianna? You know you have to vote for her, or some bad Democrat may remain in charge in Cali! Bad rezmutt! :spank:

[nolabels]

10. The way it's going, Gary Coleman is starting to look like a good choice

You all know about this race,don't Ya, its a race to figure out who can make up thier mind on the correct choice to enpower thier party and not waiver.

[WhoCountsTheVotes]

8. but but I thought rich people paid all the taxes!

So just how rich is Arianna - not that there's anything wrong with it!

[izzie]

12. Are you kidding me?

How come the state tells me I am poor and I pay as much. It is all crazy.

[cap]

14. but that's what accountants do

with professional services based organizations.... You "zero out" your income so that at the end you have no taxable income by taking various deductions.

Fair???? I don't know.... but this advice is not uncommon. However, I don't think Arianna doesn't really make that much income compared to corporate fat cats -- a tidy income, but not millions of dollars.

[Clete]

15. If she is self-employed and having her own company says so,

it's like any business, you deduct expenses and business losses from revenue. What is left is net income or loss before taxes. This is the figure used for tax purposes. Arnold and everyone else does the same. This should not be allowed to be an issue.

[msmcghee]

17. Finally, we get to blindly hate too.

The freepers love to generalize about us.

They say that we all love taxes, that we coddle criminals, that we hate our government, that we love the terrorists who attack our country - and it goes on and on. They've even convinced huge numbers of the unthinking masses out there that those idiotic assumptions are correct.

Fortunately we liberals are nothing but fair minded and objective when we criticise others.

Like - we know with certainty that anyone who drives an SUV is a bigotted, right wing ass-hole - even if it's the most economical, ecologically sound choice for their business, farm or ranch.

Of course we know that Christians are all knee-jerk fundamentalists anti-abortionists who want to force our kids to pray and denounce all evolution and life science in public school.

And we know for sure that anyone who's rich, like Arianna Huffington, is a tax-dodging, lieing crook - even if we don't understand the first thing about how professional service businesses are taxed or the details of her tax returns.

Is it possible that she's more interested in fighting the BFEE than getting rich and that she spends most if not all of her income in that effort? If I had a house that was paid for and I could cover my property taxes and expenses - if I had a name that was recognizeable and a megaphone to spread the word, that's probably what I would do.

But it's great to know that the world really is black and white and we can hate all rich people after all. It was getting to be so confusing with all those shades of gray some of you soft-minded liberals were alluding to here.

[Shanty Oilish]

18. She's a woman

So nobody has to take on her ideas. They can depict her as a silly middle-aged woman, not to be taken seriously. See the other thread, lots of DUers don't look further than her marital situation.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=176105&mesg_id=176105

[Shanty Oilish]

19. When I think mansion, I think mortgage

Not everyone who lives in a nice house is rolling in dough. Some are sinking in it.
If the IRS has no beef with her on this, neither do I.

[grasswire]

21. I thought....

...she had a business loss.

Isn't that understandable?

The trouble is that few will get beyond the headline.

[Rooktoven]

23. Funny how no dirt has shown up on Arnie, yet...

Not that this even counts as dirt...

[dsc]

25. I am flabber gasted that people are defending this

This lady is very wealthy. Assuming she got anything like the 50% a person gets in a divorce she is a millionaire many, many, times over. She paid less in taxes that I did and I made maybe 35k in those two years (total not each). This is utterly outrageous. I can't envision a bigger mound of hypocrisy. Sorry but this is just way beyond acceptable. I like the lady and think she handled a very sad marital situation with class and dignity. But I couldn't vote for her for dog catcher now.

[IndianaGreen]

27. The tax code favors the wealthy

Blame our politicians from both parties for the monstruosity that the tax code has become, not Arianna's accountant. Tax avoidance is a legal way of sheltering income from taxes, not to be confused with tax evasion. Tax accountants pride themselves in their skills for finding the most beneficial deductions for their clients.

Are you ready to endorse a flat tax, like the one that Steve Forbes advocated in 1986? Such a tax would have done away with all of the forms and all of the loopholes, and would have been fairer for the working men and women than what we have now.

Do you know why Congress won't ever have a flat tax? Because the current tax code is the way that Republicans and Democrats bestow favors on businesses and industries that contribute money to their campaigns. The tax code is the means by which the politicians grease their wheels.

[dsc]

29. This is one of my pet peeves

The fact the tax code is progressive (has graduated rates) has nothing at all to do with tax breaks. It also has nothing to do with the amount of work it takes to fill out ones taxes. In both cases that can be taken care of with tables. A flat tax is a give away to the rich, a sure way to defund the government, or the ticket to a poor middle class. None of which is a good thing,

[SoCalDem]

30. But... they would just come up with a more devious way to

HIDE what their income even IS..

Most of the super rich get "paid" in non-obvious ways..

My husband gets a check every week.. no way to "hide" that..

Super rich can "swap" stuff with other super rich with a wink-wink-nudge-nudge..

The sad fact is that no matter WHAT we do, once they have it, they are gonna keep it :(