Cheney To Receive Almost $ 2 Million In Tax Refund

http://www.detnews.com/apps/pbcs.dll/article?AID=/20060415/POLITICS/604150417/1022

Bushes paid $187,768 in taxes; Cheneys getting a big refund
Vice president gave millions to charity


WASHINGTON -- President Bush and first lady Laura Bush paid $187,768 in federal income taxes on taxable income of $618,694 in 2005, the White House said Friday.

Vice President Dick Cheney and his wife, Lynne, reported considerably larger sums in all categories. They also have a big refund check -- of nearly $2 million -- on the way, reflecting the complexities of how the
Cheneys have distributed their tax burden and withholding in recent years.

In the Bushes' case, the numbers were down a bit from last year, when they paid $207,307 in federal taxes on taxable income of $672,788.

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bizarro world are we living in? The IRS has been going after people that are poor enough to file for the EIC.

That makes sense.

Argggghhh!

Just plain criminal that this douchebag, or anyone making that kind of cake, shoule be getting on fucking nickel back from the government. If anything, he didn't pay ENOUGH.

gets a refund.

"earned"

I have my own theory:
It's said that the money is in some kind of trust that will be disbursed to charities after he leaves office, therefore it's being exempted as tax free income, leaving only $2mil for a tax of just under $500,000. only about twice as much as Buxh paid this year.

I think when he leaves office, he'll "change his mind" about the charities, pay the back taxes on the fortune and collect the money he accumulated as VP.

That's probably why Buxh has renewed his plea to make the cuts permanent.

how the hell can this asshole get $2 million back?

Halliburton gives him "deferred comp" (how deferred is it? to me he's still on their damned payroll)...plus his book deal money (probably not nearly as much as the Halliburton $)...which he then gives a majority to charity (which makes it tax deductible)... thus he's "overpaid" his taxes and gets a $1.9 million refund-friggin-check.

They wrote "The Smartest Guys in the Room" about the Enron dudes...think they need to add a chapter for the Halliburton boys.

"The Cheneys appear to have taken advantage of a special tax break passed by Congress in the Katrina Emergency Tax Relief Act of 2005
...
The provision temporarily suspended a federal rule that prevents people from taking tax deductions on cash charitable giving that exceeds 50 percent of their adjusted gross income.

That change, which expired at the end of the year, allowed the Cheneys to deduct from their taxable income the full $6.8 million of their charitable giving last year, rather than the $4.4 million that normally would have been eligible, Hurok said. In essence, the Cheneys were able to donate the extra $2.4 million to charity without having to pay taxes on the money or defer the tax benefits to future years. "

They even used a Katrina deduction without actually giving to hurricane relief!?! WTF?


:mad:

can we see his tax return?