Disclosure reports: Corzine gave cash gifts to top aides [each gift was kept under $11,000 so that.

Press of Atlantic City ^

[goodnesswins]

Yeah...but, my insurance won't pay for some of my care (think Naturopath).....

[theBuckwheat]

Well, at least he is giving his own money away. However, he is keeping it below the limit at which gift taxes would be owed.

Why is a gift taxable???

I wonder if he would vote to retain the power (notice I didn't say 'right'), of the government to tax a gift. Our founding fathers would have put that abomination of a tax in the list of tyrannies they wrote up on how the King of England abused the colonists.

The "Gift Tax" is yet another reason to abolish the 16th Amendment and replace it with the Fair Tax.

[JerseyHighlander]

This entire story, the facts behind it, are all manufactured smoke and mirrors. There are probably more gifts given out that aren't reported, and the Corzine handlers are trying to defray any further actual investigation and public outrage by making this current story big news. When the next revelation of improper gifts is made public, Corzines media handlers will call it old news, the NJ media will parrot the Corzine line, and it will fall away from the public's perception in less than a 24 hour news cycle.

The current story is a non starter, right now the harpies in the NJ press are acting like dead cowpox cells. The state has yet to suffer the coming political and economic smallpox epidemic once Corzine passes this budget and moves on to his "political agenda".

[frannie]

You are limited in what you can DEDUCT, it was 10% of your income. I don't do taxes at this time, so am not sure what the percentage is today. I am sure Cheney paid on all of his income that was taxable and it was more than if he were allowed to use the AMT schedule.

If he hadn't you know the media would have been all over him. As a matter of fact there was little coverage of his income tax papers.

[aShepard]

...........Where is it written that a payment of less than $11,000 from an employer to an employee isn't taxable, even if came from personal funds?..........

That is an excellent point!

I'm going to talk to my boss Monday to be sure that this year's bonus is a personal gift!

[aShepard]

...........Where is it written that a payment of less than $11,000 from an employer to an employee isn't taxable, even if came from personal funds?..........

That is an excellent point!

I'm going to talk to my boss Monday to be sure that this year's bonus is a personal gift!

[Mixer]

Why does that stink? He did what millions of people do every year in order to avoid taxes. Please explain what's bad about what he did.

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So you don't mind that the guy who wants us to pay more is using the system to avoid paying them? Figure if he would just go ahead and pay them we won't have top have a raise at all. Now that seems fair to me.

[Hildy]

As I understand this story, he gave his aides bonuses out of his OWN POCKET. That's ok to me. It's perfectly legal to give gifts under $10,000 in order not to pay taxes. People do it all the time. You don't think he should take advantage of things that are legal? Because he's a Democrat, they should pay taxes on it? Please, I'm curious as to your thinking on this.