The Briefing Room
General Category => Politics/Government => Topic started by: mountaineer on April 16, 2019, 04:15:02 pm
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One-percenter fails to pay his fair share while middle class suffers; women and children hit hardest (or something):
O’Rourke Underpaid on Two Years of Taxes While in Congress
BY: Nic Rowan
April 16, 2019 11:35 am
Presidential hopeful Robert Francis O'Rourke and his wife, Amy, underpaid by more than $4,000 on their taxes in 2013 and 2014 while O'Rourke was a member of Congress, according to tax returns released on Monday.
The O'Rourkes took an incorrect amount of deductions on medical expenses, not paying attention to a limit which only allowed deductions for expenses that were over 10 percent of income for people their age, Fox News reports. If the O'Rourkes had not taken nearly $16,000 in dental and medical deductions, they would have had a higher taxable income.
"After becoming aware of this error, the accounting firm that prepared the filings was immediately informed and will file an amendment as appropriate," an aide to O’Rourke said in a statement. ... Rest of story at Free Beacon (https://freebeacon.com/politics/orourke-underpaid-on-two-years-of-taxes-while-in-congress/)
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Classic...
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An accounting firm prepared the return and made this error? Hard to believe.
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An accounting firm prepared the return and made this error? Hard to believe.
Yes, it is.
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"After becoming aware of this error, the accounting firm that prepared the filings was immediately informed and will file an amendment as appropriate," an aide to O’Rourke said in a statement."
Yeah, right. As long as I have been filing taxes, there has been a floor on when medical expenses become deductible. For most of that time, the floor was set at 7.5% of income. In 2010, the DEMOCRATS increased that floor to 10% of income, virtually raising taxes on people with expensive medical issues. Beto knew this. He even championed it.
Beto O’Rourke Voted 67 Times to Keep Obamacare (https://www.breitbart.com/politics/2018/09/21/ted-cruz-beto-orourke-voted-67-times-to-keep-obamacare/)