In This Economy?

I’m pleased to announce that this tax related post has nothing to do with an Obama cabinet inductee. After THIS and THIS they have all been doing a pretty good job staying out of the news as of late.

If only everyone were so lucky.

TAX DEADBEAT #1: The 13 Backtaxers

The 13 Backtaxers are 13 companies the government gave bailout money to that owe back taxes. The 13 firms together owe about $220 million in back taxes with two of them taking the lead with debts of around $100 million each.

These tax problems were discovered when the taxes of the 23 companies that had taken the most bailout money were reviewed. Out of those 23, 13 were found to owe money. Yikes. For now the names of the deadbeat companies are not being released, but you can bet that some of the usual suspects are in there.

I’m looking at you, AIG.

TAX DEADBEAT #2: R. Allen Stanford

That’s right! He’s back again! Sir Shithead just will not go away. It turns out Mr. Stanford owes about $226 million in back taxes. Let that sink in for a moment.

Ok, now that you’ve given that some time to settle, let me bring up two issues I have with this:

• How does one dude owe more in back taxes than 13 broke companies COMBINED? I’ll admit that I don’t know much about the intricacies of tax preparation but we’re not talking about a few thousand dollars. We’re talking about hundreds of millions.
• How do you owe money on your taxes when you have $8 billion in additional untaxed scam income floating around?

Mr. Stanford, you continue to amaze me in your shitheadness.

TAX DEADBEAT #3: Sinbad

Sinbad owes about $2.1 million in the state of California. It’s going to take a lot of First Kid DVD residuals to raise that kind of money. Maybe it’s time for a sequel to Houseguest. It could be called something like Houseguest 2: Houseguestier or Foreclosed Houseguest. Houseguest with a Vengeance?

APRIL 15th IS COMING!

DON’T BE LIKE SINBAD!

PAY YOUR TAXES!

Tags: AIG, bailout, R. Allen Stanford, Sinbad, taxes

This entry was posted on Thursday, March 19th, 2009 at 11:21 AM and is filed under Bad News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.