Comments on: Looks like Sonny’s losing cover for his personal 100k tax break. Revenue Dept knows nothing. Who pushed the tax break? Sonny did!

By: LINDA

LINDA — Tue, 05 Sep 2006 23:31:41 +0000

And ROC, did the tax code change?

Was the tax code made retroactive?

Did Governor Perdue benefit from the tax code change and the fact that is was made retroactive?

The answer is no doubt yes to all of the above, so I don’t care if the Governor deferred a dollar of a hundred thousand dollars of taxes because it is still wrong! What part of that do you not get? A public official is supposed to hold themselves above reproach, higher than that standard that applies to the general public. if the appearance of a impropriety exists in the public’s eye, then you have failed in the office that you are sworn to uphold. Look up the code of office, if you don’t believe me.

By: LINDA

LINDA — Tue, 05 Sep 2006 23:24:32 +0000

And, if that is not the current law for the Governor’s tax return to be public record, then who is on board with me to pass a law to make it public record! Transparency is what we need in government, and surely you would agree with that ROC. I suppose you have your nose so far up the rear ends of those you are pulling for that you cannot see the lunacy of your protection of politicians.

By: LINDA

LINDA — Tue, 05 Sep 2006 23:20:03 +0000

Well from what I understand, even the state was not aware that the tax law had been changed and made retroactive. And ROC, you can keep your attacks against me to yourself because if I had handled like kind exchanges for the 2005 tax year then I would have researched the tax code. I never do a return without looking up the new laws. I have not handled any 1031 exchanges, except traded in vehicles. You do not need to even go anywhere else with questioning my professionalism!

By: rightofcenter

rightofcenter — Tue, 05 Sep 2006 19:56:28 +0000

Linda,
Well, no, the governor’s tax return is not required to be made public. So I ask again, where did the information come from? And by the way, I’m against corruption whereever it rears its head, but I’m not swayed by partisan charges of corruption where none exist.

By the way, I don’t think I would go around advertising that I’m ignorant of the current tax laws if I were a CPA.

By: Philly

Philly — Tue, 05 Sep 2006 18:07:55 +0000

Linda, I see you are attacking Perdue for his part in it but giving co-conspirator Cagle a pass in the whole deal. Perdue and Cagle are both arrogant, greedy politicians. That is why they make this kind of backdoor deals. Because they are arrogant enough to think they can get away with it.

Cagle has been caught in a lie, yet again. IE: Taylor contribution. I can’t wait until Martin starts blasting Cagle. Martin will cause some Republicans to doubt Cagle. There are already disgruntled Reed supporters that Buckley is pursuing. Buckley should also go after Republicans that will be doubtful of Cagle after the Martin attacks. Die hard Republicans will be much more likely to vote for a Libertarian than a Democrat.

The Lt. Governor’s office has no real power anyway. Just a stepping stone.

I am voting for the Libertarian for Lt. Governor. Buckely could siphon enough votes from Cagle to cost him the election. Jim Martin should be quitely helping Buckley behind the scenes. Buckley will take votes away from Cagle not Martin.

By: LINDA

LINDA — Tue, 05 Sep 2006 17:11:35 +0000

When I received my CPA certificate, I was required to hold my right hand up and swear to uphold the State Constitution of Georgia and to be above reproach in both independence and public appearance. And that is the very same oath that Governors and other elected officials take, and how about drawing a line in the sand with partisan politics and call a spade a spade? I don’t care if you are a Democrat or a Republican if you abuse your power, then you need to go!

By: LINDA

LINDA — Tue, 05 Sep 2006 17:08:53 +0000

Well is not the Governor’s tax return required to be available for the public? A deferred gain most certainly must be reported, and we most certainly have the right to know just how much a Governor benefited by tax laws passed that favored him. I have not got anything in the mail from the State that shows the tax change! As a CPA and tax professional, don’t you think that I have the right to know about new tax law changes, as do other tax preparers? I don’t care what Bobby kahn has to say about it or anyone, i am a Republican and I care because ethics should be adhered! Right of Center, surely you are not so hell bent on your politcis that you could care less about what goes on in our State legislature. It is just like the eminent domain fiasco that was going on with these greedy conservatives that occupy the highest offices in this state. It is time to weed out the corruptness!

By: Bill Simon

Bill Simon — Tue, 05 Sep 2006 14:16:01 +0000

MD…that’s nice info to know…but I’d rather have the opportunity to FIGHT for my life rather than lie down and commit suicide before someone takes it.

You Libbies certainly HAVE been raised quite differently from those of us from conservative homes.

By: rightofcenter

rightofcenter — Tue, 05 Sep 2006 14:08:15 +0000

Linda,
You missed my point. How do we know that the deferred tax was $100,000? It shows up in the some news story and then everyone assumes it’s the gospel. It’s not a figure that can be derived from public information. So who came up with that $100,000 figure? Bobby Kahn?

By: Mad Dog

Mad Dog — Tue, 05 Sep 2006 13:58:02 +0000

Bill,

Way back in time when I was a knight in shining armor, women were given knives.

Not for defense, so they could kill themselves rather than face rape.

For example, the knife hidden in the bodice was called the bodkin. Well, I think it was. My armor is kind of rusty and my memory …

By: LINDA

LINDA — Tue, 05 Sep 2006 04:10:02 +0000

What is so deplorable about all of this, is that I have had dealings with the Georgia Department of Revenue and the Georgia Department of Labor where they write threatening letters and make threatening phone calls over tax bills to avarage Joes! And I am talking about tax bills sometimes less than $100! Shame on the Governor and shame on the legislatures that pass bills to benefit the priviledged and short our treasury!

By: LINDA

LINDA — Tue, 05 Sep 2006 03:59:31 +0000

For all of the young guns out there, this is exactly why you do not need to elimate the estate taxes! Without those stepped up basis rules, those that inherit our property after death would no doubt lose out! Estates that are exempt from estate taxes still can take advantage of these rules. So, when you hear the nonsense about eliminating the estate tax, remember that only a small percentage of our society have to pay it!

By: LINDA

LINDA — Tue, 05 Sep 2006 03:55:43 +0000

If you know that he deferred at least $100 k in taxes, then take $100 k and divide it by 6% to get the gain! I do know it is a 1031 exchange btw ROC. Since, I have been a CPA now for nearly 2 decades, but thanks for the attempt to teach me!

By: rightofcenter

rightofcenter — Tue, 05 Sep 2006 00:40:27 +0000

Linda,
It’s not kind of like a 1031 exchange…..it IS a 1031 exchange. And to figure out the amount of the tax deferred, you would have to know the basis that Perdue had in the land he sold. Price minus basis equals capital gain, taxed at 15% for federal and 6% for state. By the way, his basis in the inherited land would have “stepped up” to market value at the time he inherited it. So this speculation about how much tax was deferred is totally blue sky stuff unless someone knows the basis.

By: Bill Simon

Bill Simon — Mon, 04 Sep 2006 15:48:59 +0000

[Correction]

Stephanie,

So, IF our shores were invaded by marauders, who overwhelmed our police and national defense forces, would you and your other Liberal friends then consider the possibility that “Gee, it sure would be nice if I had a gun to defend myself…”?

By: Bill Simon

Bill Simon — Mon, 04 Sep 2006 15:48:00 +0000

Stephanie,

So, IF our shores invaded by marauders, and overwhelmed our police and national defense forces, would you and your other Liberal friends then consider the possibility that “Gee, it sure would be nice if I had a gun to defend myself…”?

By: kspencer

kspencer — Sun, 03 Sep 2006 16:04:34 +0000

Atlantaman, not necessarily. The bill had this ‘one little change’ and was given back to the committee for review and passage. Normally – as I understand it, anyway – little changes like that are to correct typos. Changing substance is supposed to be a bit different.

There are too many unanswered questions for me to feel comfortable making accusations. But to arbitrarily dismiss it without answering those questions is equally wrong in my view.

Was a “fix the typos” rule used to slip a substantive change through? And while we’re at it, is this typical for either/both sides?

Kirk

By: atlantaman

atlantaman — Sun, 03 Sep 2006 00:54:15 +0000

I think Kahn and Taylor are going to have a difficult time making hay out of this issue when the majority of Dems voted for it.

By: kspencer

kspencer — Sat, 02 Sep 2006 19:52:21 +0000

Atlantaman – a lot. House first vote 228 in the house, 148 Yes, 0 No, 24 not voting, 8 excused. Senate vote 50, 0, 3, 3. House vote for Senate substitutions 154, 0, 21, 5.

So nobody opposed it openly, and only a small hanful ‘didn’t vote’.
http://www.legis.state.ga.us/legis/2005_06/sum/hb488.htm

Kirk

By: atlantaman

atlantaman — Sat, 02 Sep 2006 19:42:05 +0000

I’d like to know how many Democrats, if any, voted for this tax change.