[Vision2020] Dick Cheney's 2003 tax savings larger than your annual income.
Joan Opyr
auntiestablishment@hotmail.com
Tue, 13 Apr 2004 12:10:23 -0700
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Dear Visionaries:
Forwarding from http://www.salon.com. Dick Cheney will pay $88,047 less =
in federal taxes this year than he paid last year. Yay, tax cuts. Woo, =
woo. Woo. Wuh. (Just for fun, try dividing that number by your own sal=
ary, remembering to subtract for the UI pay lag, and then calculate your =
square root of aggravation. Got enough for that trip to the moon, Alice?=
Bang, zoom!) =20
BTW, of particular interest to me is the fact that the Cheneys reported $=
477,874 more in income than the Bushes, but their effective annual tax ra=
te was 8% less. Come on, Dick -- stop holding out on George. Let that c=
lever tax planner out of the secret bunker and send him on over to the Wh=
ite House.
Ever more progressively yours,
Joan Opyr/Auntie Establishment
=20
Bushes, Cheneys enjoy tax cuts
- - - - - - - - - - - -
By Jennifer Loven
April 13, 2004 | WASHINGTON (AP) -- President Bush reported $822,126 in=
adjusted gross income for last year, on which he paid $227,490 in federa=
l income taxes =E2=80=93 or about 28 percent, according to the president'=
s federal returns released Tuesday by the White House. =20
Bush and his wife, Laura, listed as income his presidential salary, inter=
est and the investment income from trusts that hold their assets. =20
The Bushes' income and tax bill was slightly lower than the previous year=
, when the First Couple reported $856,056 in adjusted gross income and pa=
id $268,719 in federal income taxes. For 2002, the Bushes paid about 31 p=
ercent of their income in federal taxes. =20
The White House also released the 2003 tax return filed by Vice President=
Dick Cheney and his wife, Lynne. They reported $1.3 million in adjusted =
gross income and owed $253,067 in federal taxes. The Cheneys' 2003 tax bi=
ll =E2=80=93 much lower than the $341,114 they paid for 2002 on just slig=
htly less money =E2=80=93 represented just 20 percent of their income. =20
For 2002, the Cheneys paid 29 percent of their adjusted gross income in f=
ederal taxes. Their income includes the vice president's $198,600 governm=
ent salary and the $178,437 he earned in deferred compensation from Halli=
burton Co., the Dallas-based energy services firm he headed until Aug. 16=
, 2000. Cheney elected in 1998 to recoup over five years a portion of the=
money he made in 1999 as chief executive officer of Halliburton. =20
"The amount of deferred compensation received by the vice president is fi=
xed and is not affected by Halliburton's current economic performance or =
earnings in any way," said a statement released by the vice president's o=
ffice =E2=80=93 a word-for-word reiteration of the statement he released =
last year. =20
The vice president's office made the statement to explain the deferred co=
mpensation. Cheney's office has repeatedly stated that the vice president=
doesn't have a financial stake in the success of Halliburton, nor does h=
e have anything to do with defense contracts. =20
The Cheneys' income also includes Mrs. Cheney's income from work at the A=
merican Enterprise Institute, a Washington-based think tank, and compensa=
tion from her service on the Reader's Digest board of directors in 2003. =20
The White House distributed the Bushes' federal form 1040 for 2003 with a=
ttached schedules two days before the April 15 filing deadline. For Chene=
y, only the federal form 1040 was released. =20
The Bushes reported itemized deductions of $95,043, including $68,360 to =
churches and charitable organizations, including Evergreen Chapel at Camp=
David, Md., Tarrytown United Methodist Church in Austin, Texas, St. John=
's Church in Washington, D.C., the M.D. Anderson Cancer Center in Houston=
, Texas and the federal government's Combined Federal Campaign. =20
The Bushes paid $21,352 in state property taxes on their ranch near Crawf=
ord, Texas, up from $19,902 last year. =20
The Cheneys reported itemized deductions of $454,649. The couple donated =
$321,141 to charity in 2003, mostly in royalties from the sales of Mrs. C=
heney's books, "America: A Patriotic Primer," "A is for Abigail" and soon=
-to-be-out "Fifty States." =20
Bush overpaid his 2003 taxes by $61,451, and elected to apply the entire =
amount to their 2004 tax bill. =20
The Cheneys overpaid their taxes by $5,712 and also directed that amount =
to go toward their 2004 taxes.Get more from the Web. FREE MSN Explorer d=
ownload : http://explorer.msn.com
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<HTML><BODY STYLE=3D"font:10pt verdana; border:none;"><DIV>Dear Visionari=
es:</DIV> <DIV> </DIV> <DIV>Forwarding from <A href=3D"http://www.sa=
lon.com">http://www.salon.com</A>. Dick Cheney will pay $88,04=
7 less in federal taxes this year than he paid last year. Yay,=
tax cuts. Woo, woo. Woo. Wuh. (Just for fun, try=
dividing that number by your own salary, remembering to subtract fo=
r the UI pay lag, and then calculate your square root of aggravation.&nbs=
p; Got enough for that trip to the moon, Alice? Bang, zoom!) &=
nbsp;</DIV> <DIV> </DIV> <DIV>BTW, of particular interest to me is t=
he fact that the Cheneys reported $477,874 more in income than the Bushes=
, but their effective annual tax rate was 8% less. Come on, Di=
ck -- stop holding out on George. Let that clever tax planner =
out of the secret bunker and send him on over to the White House.</DIV> <=
DIV> </DIV> <DIV>Ever more progressively yours,</DIV> <DIV>Joan Opyr=
/Auntie Establishment</DIV> <DIV> <BR><BR><!-- Headline --><FONT fa=
ce=3D"times new roman, times, serif" size=3D5>Bushes, Cheneys enjoy tax c=
uts</FONT><BR></DIV><!-- Deck --> <DIV> <P><FONT face=3D"times new roman,=
times, serif" color=3D#999999 size=3D-1>- - - - - - - - - - - -</FONT><B=
R><!-- Byline --><FONT face=3D"Verdana, Arial, Helvetica, sans-serif" siz=
e=3D2><B>By Jennifer Loven</B></FONT></P> <P><FONT face=3D"Verdana, Arial=
, Helvetica, sans-serif" size=3D2>April 13, 2004 | </FONT> <FO=
NT face=3D"Verdana, Arial, Helvetica, sans-serif" size=3D1>WASHINGTON (AP=
) -- </FONT><!-- end default pre content --><FONT face=3D"times new roma=
n, times, serif" size=3D3>President Bush reported $822,126 in adjusted gr=
oss income for last year, on which he paid $227,490 in federal income tax=
es =E2=80=93 or about 28 percent, according to the president's federal re=
turns released Tuesday by the White House. </P> <P>Bush and his wife, Lau=
ra, listed as income his presidential salary, interest and the investment=
income from trusts that hold their assets. </P> <P>The Bushes' income an=
d tax bill was slightly lower than the previous year, when the First Coup=
le reported $856,056 in adjusted gross income and paid $268,719 in federa=
l income taxes. For 2002, the Bushes paid about 31 percent of their incom=
e in federal taxes. </P> <P>The White House also released the 2003 tax re=
turn filed by Vice President Dick Cheney and his wife, Lynne. They report=
ed $1.3 million in adjusted gross income and owed $253,067 in federal tax=
es. The Cheneys' 2003 tax bill =E2=80=93 much lower than the $341,114 the=
y paid for 2002 on just slightly less money =E2=80=93 represented just 20=
percent of their income. </P> <P>For 2002, the Cheneys paid 29 percent o=
f their adjusted gross income in federal taxes. Their income includes the=
vice president's $198,600 government salary and the $178,437 he earned i=
n deferred compensation from Halliburton Co., the Dallas-based energy ser=
vices firm he headed until Aug. 16, 2000. Cheney elected in 1998 to recou=
p over five years a portion of the money he made in 1999 as chief executi=
ve officer of Halliburton. </P> <P>"The amount of deferred compensation r=
eceived by the vice president is fixed and is not affected by Halliburton=
's current economic performance or earnings in any way," said a statement=
released by the vice president's office =E2=80=93 a word-for-word reiter=
ation of the statement he released last year. </P> <P>The vice president'=
s office made the statement to explain the deferred compensation. Cheney'=
s office has repeatedly stated that the vice president doesn't have a fin=
ancial stake in the success of Halliburton, nor does he have anything to =
do with defense contracts. </P> <P>The Cheneys' income also includes Mrs.=
Cheney's income from work at the American Enterprise Institute, a Washin=
gton-based think tank, and compensation from her service on the Reader's =
Digest board of directors in 2003. </P> <P>The White House distributed th=
e Bushes' federal form 1040 for 2003 with attached schedules two days bef=
ore the April 15 filing deadline. For Cheney, only the federal form 1040 =
was released. </P> <P>The Bushes reported itemized deductions of $95,043,=
including $68,360 to churches and charitable organizations, including Ev=
ergreen Chapel at Camp David, Md., Tarrytown United Methodist Church in A=
ustin, Texas, St. John's Church in Washington, D.C., the M.D. Anderson Ca=
ncer Center in Houston, Texas and the federal government's Combined Feder=
al Campaign. </P> <P>The Bushes paid $21,352 in state property taxes on t=
heir ranch near Crawford, Texas, up from $19,902 last year. </P> <P>The C=
heneys reported itemized deductions of $454,649. The couple donated $321,=
141 to charity in 2003, mostly in royalties from the sales of Mrs. Cheney=
's books, "America: A Patriotic Primer," "A is for Abigail" and soon-to-b=
e-out "Fifty States." </P> <P>Bush overpaid his 2003 taxes by $61,451, an=
d elected to apply the entire amount to their 2004 tax bill. </P> <P>The =
Cheneys overpaid their taxes by $5,712 and also directed that amount to g=
o toward their 2004 taxes.</P></FONT></DIV></BODY></HTML><br clear=3Dall>=
<hr>Get more from the Web. FREE MSN Explorer download : <a href=3D'http:=
//explorer.msn.com'>http://explorer.msn.com</a><br></p>
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