HYPOCRITE: Billionaire Progressive George Soros May Finally Participate in Shared Sacrifice and Pay His Outstanding $6.7 Billion Tax Bill

DON’T YOU LOVE IT WHEN PROGRESSIVE HYPOCRITES TELL YOU ABOUT YOUR SHARED SACRIFICE, BUT THEY DO JUST THE OPPOSITE …

Remember the cry from Warren Buffet in stop coddling of the super-rich?  George Soros, the “Godfather of the Left” and the world’s 27th wealthiest person,  has according to Breitbart, allegedly used tax deferral to prevent paying any taxes on $13.3 billion profit. However, according to an Irish regulatory filing by Soros, he will soon be enjoying the shared sacrifice of paying a 50 percent tax that will wipe-out a quarter of his net worth. This means that he will finally be paying his “fair share” and participate in what progressives say we must do, participate in “shared sacrifice”. Kind of makes you wonder why the IRS and their Hench-men harass the little people, but folks like Soros and his ilk walk scot-free.

Come on George, if its good for everyone else and you claim all must pay their fair share, how come you have tried to avoid paying yours?

No little people, I get to play by a different set of rules because they let me and I can

Congress closed a lucrative loophole in 2008 used by U.S. hedge fund managers to avoid paying income taxes for fees and profits. Congress gave these corporate elites until 2017 to pay accumulated taxes on all pre-2009 deferred income.

Warren Buffett in August 2011 called on the U.S. government to “stop coddling the super-rich.” Buffett pointed out he pays less of his income in taxes than his secretary does. He added that the rich should pay higher taxes for the sake of “shared sacrifice,” and suggested that most of his wealthy friends “wouldn’t mind being told to pay more.”

When the liberal website Salon launched the Patriotic Billionaire Challenge to ask the 400 richest Americans if they approved of “The Buffett Rule” to raise taxes, only Georges Soros and 6 of the other uber-wealthy responded positively.

But just before Congress had closed the “hedge fund loophole” in 2008, Soros transferred assets to Ireland—a country that was seen as a refuge from paying taxes under the new U.S. law. The recent Irish regulatory filings, according to Bloomberg show for the first time the “extent Soros’s almost $30 billion fortune—he ranks 23rd on the Bloomberg Billionaires Index—came from finding ways to delay taxes and reinvesting the money in his fund.”

As a New York-based money manager, Soros would be subject to a federal rate of 39.6 percent; combined state and city levies totaling 12 percent; and an additional 3.8 percent tax on investment income to pay for Obamacare, according to Andrew Needham, a tax partner at the law firm of Cravath, Swaine & Moore.

DIFFERENT RULES FOR THE LEFT UBER RICH:

When has the government and the IRS allowed “We the People” to wait 10 years to may back taxes owed?

George Soros, a self-made billionaire investor who has made calls in the past for higher taxes on wealthy Americans, may soon be getting his wish. According to Bloomberg, years of deferred income could leave him owing $6.7 billion in taxes.

It appears that Soros has put to use a loophole that has allowed him to defer taxes on fees paid by his clients and reinvest them in his fund. Irish regulatory filings reveal that the investor, through his firm Soros Fund Management, has amassed $13.3 billion using this mechanism.

How? In 2008, George W. Bush signed U.S. legislation closing a loophole that allowed hedge fund managers to set up parallel offshore funds as a way to defer taxes. The Congressional Joint Committee on Taxation estimated in 2008 that the new rules would generate roughly $25 billion in revenue, including $8 billion in 2017 — the deadline for managers to pay accumulated taxes.

Just before all of this took place, Soros incorporated a new company in Ireland called Quantum Endowment Ireland. His Quantum Endowment transferred delayed fees and certain other assets to the new company.

Quantum Endowment Ireland is subject to a 25% corporate tax, in theory; however, its status as an Irish Section 110 company allows it to issue profit participation note and pay out earnings as distributions to note holders. In other words, it hasn’t had to pay much.

TIGTA Finds 6,400 Lois Lerner Emails That the IRS Had Not Turned Over to Congress

IRS-GATE: WHY IS IT THAT EMAILS SEEM TO BE SO TROUBLING FOR LIBERALS LIKE LOIS LERNER AND HILLARY CLINTON?

The TIGTA, the Treasury’s inspector general for tax administration, has reportedly uncovered some 6,400 emails, either from or to for IRS official Lois Lerner. The emails were either sent or received by Lerner between 2004 and 2013. The TIGTA did not believe that these emails had been previously turned over to Congress. Imagine that? Who really thinks any of these emails are of any relevance? Any inciminating emails have been long been sent down a black hole. This is the IRS we are talking about with a scandal that goes right back to the Obama White House.

An inspector general investigating the IRS’s improper scrutiny of Tea Party groups has found thousands of emails from Lois Lerner, the agency official at the center of that controversy, according to committees involved in the probe.

Treasury’s inspector general for tax administration (TIGTA) said it found roughly 6,400 emails either to or from Lerner from between 2004 and 2013 that it didn’t think the IRS had turned over to lawmakers, the congressional committees said. The committees have yet to examine the emails, aides on Capitol Hill said.

The IRS said last year that Lerner’s computer crashed in 2011, leaving it unable to reproduce an untold number of her emails over the prior two years.

Of the emails the inspector general found, around 650 were from 2010 and 2011, while most were from 2012. The inspector general found about 35,000 emails in all as it sought to recover emails from recycled back-up tapes.

CNN – IRS watchdog finds 6,400 missing Lois Lerner emails.

The IRS watchdog investigating the disappearance of Lois Lerner’s emails told a Senate committee it has found roughly 6,400 messages that have never before been turned over to Congress.

Lerner was the IRS official at the center of allegations that the agency targeted tea party groups applying for nonprofit status. Congress requested Lerner’s emails from the IRS and agency officials told lawmakers an unknown number of emails had been lost when Lerner’s computer crashed.

The Treasury Inspector General for Tax Administration is in the process of turning the emails over to the Senate Finance Committee, which is investigating whether the IRS wrongly targeted conservative and other groups seeking tax-exempt status, committee spokesman Aaron Fobes said.

“These emails will be carefully examined as part of the committee’s bipartisan IRS investigation,” he said.

Clinton Foundation To Refile Tax Returns … For 3 Years in a Row the Clinton Foundation Reported to the IRS It Received ZERO Funds From Foreign & U.S. Governments

Hmm, the IRS was too busy going after and attacking Conservative non-profits and the Tea Party as they missed The Clinton Foundation filings … Imagine that.

As reported by Reuters, The Clinton Foundation will have to refile at lest 5 years of tax returns to the IRS after a Reuters review found errors in how the Foundation reported donations from governments, and said they may audit other Clinton Foundation returns in case of other errors. As referenced at Breitbart, the errors, which have not been previously reported, appear on the form 990s that all non-profit organizations must file annually with the Internal Revenue Service to maintain their tax-exempt status. But what would you expect from Hillary Clinton, an individual who thinks she is above the law, conducted State Department business with her own personal email and stored on her own private server, and then scrubbed the server hard drives clean.

Remember, Ron Fournier said weeks back to keep your eye on the Clinton Foundation, that was the bigger controversy.

Scouts honor, I am not a liar

Hillary Clinton’s family’s charities are refiling at least five annual tax returns after a Reuters review found errors in how they reported donations from governments, and said they may audit other Clinton Foundation returns in case of other errors.

The foundation and its list of donors have been under intense scrutiny in recent weeks. Republican critics say the foundation makes Clinton, who is seeking the Democratic presidential nomination in 2016, vulnerable to undue influence. Her campaign team calls these claims “absurd conspiracy theories.”

The charities’ errors generally take the form of under-reporting or over-reporting, by millions of dollars, donations from foreign governments, or in other instances omitting to break out government donations entirely when reporting revenue, the charities confirmed to Reuters.

The errors, which have not been previously reported, appear on the form 990s that all non-profit organizations must file annually with the Internal Revenue Service to maintain their tax-exempt status. A charity must show copies of the forms to anyone who wants to see them to understand how the charity raises and spends money.

The unsettled numbers on the tax returns are not evidence of wrongdoing but tend to undermine the 990s role as a form of public accountability, experts in charity law and transparency advocates interview told Reuters.

“If those numbers keep changing – well, actually, we spent this on this, not that on that – it really defeats the purpose,” said Bill Allison, a senior fellow at the Sunlight Foundation, a government transparency advocacy group.

For three years in a row beginning in 2010, the Clinton Foundation reported to the IRS that it received zero in funds from foreign and U.S. governments, a dramatic fall-off from the tens of millions of dollars in foreign government contributions reported in preceding years.

Barack Obama’s DOJ Says There are No contempt Charges for Former IRS Official Lois Lerner

WHAT A JOKE, NO CONTEMPT CHARGES FOR LOIS LERNER  … MORE FROM THE MOST CORRUPT PRESIDENTIAL ADMINISTRATION EVER.

This should come as a shock to no one …  President Barack Obama said he was going to have the most transparent and trustworthy administration ever. Of course this is much like a 300 pound man wearing a bowling shirt with the nickname “Slim” on it. And now for the latest in the IRS scandal that saw the IRS purposely and intentionally go after Conservatives and Conservative non-profit groups like the Tea Party ahead of the 2012 elections. Eric Holder and Barack Obama’s Department of Justice will not seek criminal charges against former IRS official Lois Lerner over her refusal to testify before the House Oversight and Government Reform Committee in March 2014. IMAGINE THAT! The DOJ claims that she did not waive her 5th Amendment privileges when she made a statement of her innocence prior to pleading the 5th because get this … “she made only a general claims of innocence.” SERIOUSLY?

The fix has been in from the outset. We not only have a corrupt government where the fox is guarding the hen house, we have one where the fox also is behind the scandal and in charge of prosecuting any such crimes at the hen house. This country has so lost its way I really am beginning to wonder for the first time in my life whether we will ever be able to get it back.

The Justice Department will not seek criminal contempt charges against former IRS official Lois Lerner, the central figure in a scandal that erupted over whether the tax agency improperly targeted conservative political groups.

Ronald Machen, the former U.S. attorney for the District of Columbia, told House Speaker John Boehner (R-Ohio) in a seven-page letter this week that he would not bring a criminal case to a grand jury over Lerner’s refusal to testify before the House Oversight and Government Reform Committee in March 2014. The House approved a criminal contempt resolution against Lerner in May 2014, and Machen’s office has been reviewing the issue since then.

Machen said the Oversight Committee “followed proper procedures” in telling Lerner that it had “rejected her claim of privilege and gave her an adequate opportunity to answer the Committee’s questions.”
IRS watchdog probing ‘potential criminal activity’ in Lerner email mess.

However, Machen said Justice Department lawyers determined that Lerner “did not waive her Fifth Amendment right by making an opening statement on May 22, 2013, because she made only a general claims of innocence.”

Machen added: “Given that assessment, we have further concluded that it is not appropriate for a United States Attorney to present the matter to the grand jury for action where, as here, the Constitution prevents the witness from being prosecuted for contempt.”

Barack Hussain Obama, The Most Uninformed President Ever …. Claims He Learned of Hillary Clinton Used a Private, Nongovernment Email Account as Secretary of State Through News Reports

SORRY OBAMA, YOU CAN ONLY USE THAT SAME EXCUSE 7 TIMES, NOT 8 …

From the most transparent presidency ever comes yet another scandal, this time its Hillary email-gate. Barack Obama was asked by Bill Plant of CBS News in a sit down interview when was the first time he learned that Hillary Clinton was using an email system outside the US government for official business while she was Secretary of State? Obama’s response, more BS … “Ah, the sane time everybody else learned it through news reports“. Seriously Mr. Obama, is that your final answer? Let me just say this … YOU ARE A LIAR! We are supposed to believe that Barack Obama, the most tech savvy president ever, never received an email from Hillary Clinton from her private email account for official business? REALLY? No one believes that. You mean the tech savvy Obama doesn’t know that a government account ends in .gov? But then again, the Obama presidency is the most transparent ever, because the Liar is Chief says so. Are we really supposed to believe that if there was no news outlets, Obama would know nothing?

President Barack Obama said it was through news reports that he first learned that Hillary Rodham Clinton used a private, nongovernment email account while serving as his secretary of state.

In an interview Saturday with CBS News, Obama said he’s glad that Clinton has instructed that those emails about official business be disclosed. He also maintained that his administration remains the most transparent ever.

Clinton has drawn criticism for using a private server during the four years she was the nation’s top diplomat. Her sidestepping official government email also raises questions about whether all pertinent messages have been preserved as well as turned over for congressional investigations and lawsuits.

CBS NEWS:

President Obama only learned of Hillary Clinton’s private email address use for official State Department business after a New York Times report, he told CBS News in an interview.

CBS News senior White House correspondent Bill Plante asked Mr. Obama when he learned about her private email system after his Saturday appearance in Selma, Alabama.

“The same time everybody else learned it through news reports,” the president told Plante.

Mr. Obama’s comments follow a long week of media scrutiny surrounding Hillary Clinton’s private email address and the “home-brewed” server that hosted it.

“The policy of my administration is to encourage transparency, which is why my emails, the BlackBerry I carry around, all those records are available and archived,” Mr. Obama said. “I’m glad that Hillary’s instructed that those emails about official business need to be disclosed.”

Barack Obama is either the biggest and most pathetic liar we have ever had the misfortune as having as President of the United States or he is the stupidest, most uniformed and laziest one. Take your pick America. Barack Obama is telling us once again that he just learned about the latest scandal during his presidency regarding Hillary Clinton using private email account and server from the media. Sound familiar, as Yogi Berra would say, “its like deja vu all over again”. Didn’t Obama use this same lame excuse and lie for the following scandals:

1. WH spox Carney says that President Obama only found out about the VA scandal recently from news reports. (VIDEO) But he of course was lying, he knew since 2008.
2. Obama said that he first learned about IRS-gate from the the same news reports that I think most people learned about this.
3. Obama and his surrogates have claimed he learned of several other scandals from broadcast or print news stories also include Operation Fast and Furious.
4. Obama also said he only learned in the news the DOJ’s seizure of two months of Associated Press phone records.
5. NSA Denies Obama Knew Of Spying On German Leader
6. HHS Chief: President Didn’t Know Of Obamacare Website Woes Beforehand
7. Obama Claims He Didn’t Know About the Petraeus Investigation