Posted on 05/02/2009 4:19:22 AM PDT by Shane
Why doesn’t Rahm Emanuel pay property taxes? Email Written by gto7 on Feb-23-09 3:58pm From: gto7.wordpress.com
Why don’t we all do this!!!! Rahm Emanuel's home
Rahm Emanuel's home
According to the Cook County Assessor’s website, the Chicago home of four-term Democrat Congressman and new White House Chief of Staff, Rahm Emanuel, doesn’t exist. While the address of 4228 North Hermitage is listed as Emanuel’s residence on the Illinois State Board of Elections’ website, there seems to be no public record of Emanuel ever paying property taxes on this home.
The Cook County Assessor’s and Cook County Treasurer’s online records indicate Emanuel’s Chicago neighbors pay between $3,500 and $7,000 annually. However, Illinois Review has been unable to locate any evidence that the former Clinton advisor and investment banker is paying his fair share of Cook County ’s notoriously high tax burden.
hermitageblock_3
Why wouldn’t 4228 North Hermitage property owners Rahm Emanuel and wife Amy Rule pay property taxes?
One reason may be because Emanuel and Rule declared their 4228 North Hermitage home as the office location for their personal non-profit foundation called the “Rahm Emanuel and Amy Rule Charitable Foundation“. As the non-profit’s headquarters, their home could be exempt from paying property taxes.
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In January 2007, USA Today reported on Emanuel’s foundation:
The Rahm Emanuel and Amy Rule Charitable Trust was formed in 2002, when the Chicago lawmaker was first elected. The former Clinton White House aide and his wife, Amy Rule, are its only donors. Emanuel was an investment banker after serving in the White House.
The trust reported having $2,900 on hand at the end of 2005 after receiving $34,000 from Emanuel and donating more than $31,000
During the past three years, Emanuel’s charity gave nearly $25,000 to the Anshe Emet synagogue and school [a private school that the Rahm/Rule children attend]…, and $15,000 to the foundation run by former president Bill Clinton. It also gave $14,000 to Marwen, a Chicago charity that provides art classes and other educational help to low-income children. Rule is on 20 Marwen’s board.
(He doesn’t pay any property taxes and he gets income tax write-offs by donating $25000 to the Synagogue and other amounts of money to his Foundation. This allows his kids to attend school tuition-free and allows him to expense a lot of personal expenses. What a racket!
Take all your income and donate it back to yourself via tax exempt orgs where you can spend it on as expenses to operate your car, pay the electric and water bills, etc.
I guess if you are a hypocritical “liberal” democrat who advocates raising taxes on everyone else, this is all permissible.)
Emanuel’s 4228 North Hermitage home is one of the largest in the neighborhood, with a side ya rd that appears to be a vacant lot, making the Emanuels’ property the largest portion on the block.
Other North Hermitage homes on Emanuel’s block are valued in the $500,000 plus range. According to Cook County Treasurer’s website, the Chicago owners of nearby 118 year old 4222 North Hermitage pay almost $6800 annually. The family at 4224 North Heritage pays $6000 each year in property taxes.
President Obama - himself a connected, Chicago insider who has benefited from questionable land deals - may find it difficult to explain why his very 20 own Chicago-based chief of staff doesn’t pay property taxes like the “little guy” he claims to represent. Or perhaps allowing his wealthy friends to avoid taxes is part of Obama’s trickle down redistribution economics. It’s certainly the kind of “change” we Illinoisans can believe in…since we’re quite familiar with it here in the federal indictment land of Daley, Blagojevich, Madigan, Jones, Cellini, Rezko, etc.
Democrats don’t have to pay no stinkin’ taxes! In whatever they do they’re above the law.
This is the single biggest electoral weakness Democrats have.....it’s do as I say, not as I do.
Problem is...their media, which is most of it, will not cover this.
Gee I thought paying taxes was patriotic lol
I had a blog about that in March...
He also had a short but profitable stay at Freddie
http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story
Rahm Emanuel’s profitable stint at mortgage giant
By Bob Secter and Andrew Zajac
Chicago Tribune
March 26, 2009
…Because of Freddie Mac’s federal charter, the board in Emanuel’s day was a hybrid of directors elected by shareholders and those appointed by the president.
In his final year in office, Clinton tapped three close pals: Emanuel, Washington lobbyist and golfing partner James Free, and Harold Ickes, a former White House aide instrumental in securing the election of Hillary Clinton to the U.S. Senate. Free’s appointment was good for four months, and Ickes’ only three months.
…
Freddie Mac board did most of its work in committees. Yet proxy statements that detailed committee assignments showed none for Emanuel, Free or Ickes during the time they served in 2000 or 2001. Most other directors carried two committee assignments each.
…
[B]uried deep in corporate and government documents on the Freddie Mac Freddie Mac scandal is a little-known and very different story involving Emanuel.
He was named to the Freddie Mac board in February 2000 by Clinton, whom Emanuel had served as White House political director and vocal defender during the Whitewater and Monica Lewinsky scandals.
The board met no more than six times a year. Unlike most fellow directors, Emanuel was not assigned to any of the board’s working committees, according to company proxy statements. Immediately upon joining the board, Emanuel and other new directors qualified for $380,000 in stock and options plus a $20,000 annual fee, records indicate.
On Emanuel’s watch, the board was told by executives of a plan to use accounting tricks to mislead shareholders about outsize profits the government-chartered firm was then reaping from risky investments. The goal was to push earnings onto the books in future years, ensuring that Freddie Mac would appear profitable on paper for years to come and helping maximize annual bonuses for company brass.
The accounting scandal wasn’t the only one that brewed during Emanuel’s tenure. See also..
The Black Hole
Why don’t we all do this!!!!
Rahm Emanuel’s home
According to the Cook County Assessor’s website, the Chicago home of four-term Democrat Congressman and new White House Chief of Staff, Rahm Emanuel, doesn’t exist. While the address of 4228 North Hermitage is listed as Emanuel’s residence on the Illinois State Board of Elections’ website, there seems to be no public record of Emanuel ever paying property taxes on this home.
The Cook County Assessor’s and Cook County Treasurer’s online records indicate Emanuel’s Chicago neighbors pay between $3,500 and $7,000 annually. However, Illinois Review has been unable to locate any evidence that the former Clinton advisor and investment banker is paying his fair share of Cook County ’s notoriously high tax burden.
Why wouldn’t 4228 North Hermitage property owners Rahm Emanuel and wife Amy Rule pay property taxes?
One reason may be because Emanuel and Rule declared their 4228 North Hermitage home as the office location for their personal non-profit foundation called the “Rahm Emanuel and Amy Rule Charitable Foundation“. As the non-profit’s headquarters, their home could be exempt from paying property taxes.
In January 2007, USA Todayreported on Emanuel’s foundation:
The Rahm Emanuel and Amy Rule Charitable Trust was formed in 2002, when the Chicago lawmaker was first elected. The former Clinton White House aide and his wife, Amy Rule, are its only donors. Emanuel was an investment banker after serving in the White House.
The trust reported having $2,900 on hand at the end of 2005 after receiving $34,000 from Emanuel and donating more than $31,000
During the past three years, Emanuel’s charity gave nearly $25,000 to the Anshe Emet synagogue and school [a private school that the Rahm/Rule children attend]…, and $15,000 to the foundation run by former president Bill Clinton. It also gave $14,000 to Marwen, a Chicago charity that provides art classes and other educational help to low-income children. Rule is on 20 Marwen’s board.
(He doesn’t pay any property taxes and he gets income tax write-offs by donating $25000 to the Synagogue and other amounts of money to his Foundation. This allows his kids to attend school tuition-free and allows him to expense a lot of personal expenses. What a racket!
Take all your income and donate it back to yourself via tax exempt orgs where you can spend it on as expenses to operate your car, pay the electric and water bills, etc.
I guess if you are a hypocritical “liberal” democrat who advocates raising taxes on everyone else, this is all permissible.)
Emanuel’s 4228 North Hermitage home is one of the largest in the neighborhood, with a side ya rd that appears to be a vacant lot, making the Emanuels’ property the largest portion on the block.
Other North Hermitage homes on Emanuel’s block are valued in the $500,000 plus range. According to Cook County Treasurer’s website, the Chicago owners of nearby 118 year old 4222 North Hermitage pay almost $6800 annually. The family at 4224 North Heritage pays $6000 each year in property taxes.
President Obama - himself a connected, Chicago insider who has benefited from questionable land deals - may find it difficult to explain why his very 20 own Chicago-based chief of staff doesn’t pay property taxes like the “little guy” he claims to represent. Or perhaps allowing his wealthy friends to avoid taxes is part of Obama’s trickle down redistribution economics. It’s certainly the kind of “change” we Illinoisans can believe in…since we’re quite familiar with it here in the federal indictment land of Daley, Blagojevich, Madigan, Jones, CelliniRezko,etc.
Plenty of Rahm at the AIG Table
Rahm has a new plan, BARF, the Big Ass Relief Fund for the banks.
Over the past ten days, as the furor over AIG retention plan bonuses has focused on Sen. Chris Dodd and Secretary of the Treasury Timothy Geithner, the White House has undertaken a PR offensive to protect the highest ranking Obama Administration official who was involved in the House and Senate negotiations over the stimulus bill, in which the AIG waiver language was inserted.
“Right now, you get the feeling this is all about protecting [White House Chief of Staff] Rahm Emanuel,” says a former Treasury Department lawyer, who worked in that department’s counsel’s office on the Troubled Asset Relief Program (TARP) before joining a D.C.-based law firm in February. “At the time, we were led to believe there were basically three or four people from the Administration at the table when the final deals were cut and one of them was Emanuel.”
Informal advisers to Geithner are growing increasingly frustrated, they say, that Geithner is being held up as the straw man for the public anger over the bonuses. “Just over the weekend you saw a new guy added to the target list, [White House economics adviser Larry] Summers,” says a longtime Geithner colleague at the New York Fed. “You have Dodd, Geithner, Summers, but there were other, more senior political people involved in this mess, and their names aren’t being mentioned. Why isn’t anyone asking Rahm Emanuel, ‘What meetings were you in?’ ‘What did you and the President know and when did you know it?’ Tim has some culpability, but he’s not the guy who signed off on the Dodd language. He wasn’t that empowered to do something like that.”
(Excerpt) Read more at spectator.org ...
http://bluelori.blogspot.com/2009_03_01_archive.html
“Some animals are more equal than others.”
Animal Farm
I've sent this over to my accountant and am waiting for him to get back to me on his thoughts.
I sent a link to this story to the Glenn Beck show.
Had one member of Bush’s administration been $5 short paying any sort of tax, you can guarantee congress would have opened an investigation, the MSM would have been all over it - condemning that person to leave their office in shame, all the while asking “what did Bush know”....
Yet being a tax cheat is seemingly a prerequisite for being in the 0bama administration.
The American people are absolutely dumber than I had ever thought. OF course, it really isn’t their fault (sarcasm) - after several decades of pubic school brainwashing, and the MSM manipulating minds - it is no wonder.
Sorry, while tax cheats are a dime a dozen in Dear Leader’s administration, I call BS.
I see no proof that the taxes are unpaid.
I suspect, since Rahm got in on the act in 2002, that this is a pretty standard stunt amongst the ruling class. My suspicion as well is that many of them have no social security numbers....but my tin foil may be wrapped a little tight this am...
kjo is EXACTLY right. The media, which according to their prissy, high-minded liberal mission statement, is supposed to "Comfort the afflicted, and afflict the comfortable". Of course, if the comfortable are liberal Democrats, like the media, well, they didn't mean it, it won't happen again, everybody does it, it's not like it's a real crime, hey, what about that swine flu?
Every time you hear anyone whining about the demise of newspapers and how that will keep corruption from being outed, remember that. Rahm Emanuel lives in a city with one of the largest, most influential newspapers in the world (such as it remains now, anyway), and you read this ON FREE REPUBLIC, not in the Chicago Tribune. That tells you all you need to know about Democrats and the media.
And the 'Rats have no respect for the people who do. As evidenced by Obama's diss of teabaggers.
The IRS hassled me for a $7.48 shortage.
Where do you see the amount of tax paid?
Maybe we should start an Emanuel trend and conservatives start declaring their 'homes' as office location for their own personal 'non-profit' foundations.....
Now how much does it cost to get this done? Is there a specific methodology Rahm followed, we would not want to do it any other way but Rahm's way. I think we ought to be following this particular example as the way to go.... And praise Rahm for showing US the way... (only partial sarcasm)
All the “Penguin” had to do was declare the school a Charitable foundation.
If Rahm and Amy have declared their home to be the headquarters for a chritable foundation then how can they still claim a “homestead” exemption on their taxes and doesn’t this now become a “special use” that may not be compatable with current zoning?
Just a thought.
If a Republican were to do this the IRS would administering a colonoscopy without the benefit of personal lubricant.
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