"Harry Krause" wrote in message
. ..
RCE wrote:
"Harry Krause" wrote in message
. ..
RCE wrote:
"Harry Krause" wrote in message
. ..
Shortwave Sportfishing wrote:
On Mon, 17 Apr 2006 06:20:10 -0400, Harry Krause
wrote:

...I don't get much of one, and neither do most people who do proper
tax planning, but I guess that excludes Dick Cheney, who reportedly
is getting a $1.9 million refund.

I'm sure it is perfectly legal, but, sheesh, talk about a guy who
knows and cares nothing about even the semblance of appearances.
For a former "reporter" Harry, you seem to have a strange way of
working a story.

From Friday's NYT - buried, but it was there. Please note the first
and last paragraphs.

--------------------------------

"The Cheneys reported adjusted gross income of nearly $8.82 million,
a
number largely padded with income they received by exercising stock
options that had been set aside in 2001 for charity.

The Cheneys donated about $6.87 million to charity from the stock
options and royalties earned on Mrs. Cheney's books: "America: A
Patriotic Primer," "A is for Abigail: An Almanac of Amazing American
Women" and "When Washington Crossed the Delawa A Wintertime Story
for Young Patriots."

Recipients of their charitable donations included: George Washington
University Medical Faculty Associates for the benefit of the
Cardiothoracic Institute, the University of Wyoming Foundation and
Capital Partners for Education, to benefit low-income high school
students in the Washington area.

After subtracting the charitable contributions, the Cheneys' income
was $1.95 million on which they owed $529,636 in taxes, according to
a
statement released by the vice president's office.

Since the Cheneys paid $2.46 million in withholding and estimated
taxes over the year, they were entitled to a refund of about $1.93"
million."

------------------------

I don't like Cheney either, but fair is fair.
I didn't say it wasn't legal. Good tax planning obviates the need for
substantial refunds. Paying that kind of money in withholding only to
get most of it back is...not too bright.
Donating $6.87 million to charity in one year kinda screws up your tax
planning.

RCE
You think it was an unplanned donation?

No, but the mechanics of a charity donation may not fit with normal
quarterly reporting, which I assume he is required to do. According to
the article referenced by Tom, a bulk of it was based on stock options
that were set aside for charity. At a lesser scale, many of us have to
make last minute contributions to retirement plans, etc. to even out the
tax hit at the end of the year. In any event, he paid his share, crooked
as you may think he is.

RCE


Once again, I am not questioning Cheney's tax returns. After all, this
country has no history of a Republican vice president in tax trouble.

My question was about the appearance of receiving a nearly $2 million
refund.


As was already stated, most folks would not have a problem seeing him get
that large of a refund after reading the entire story, most of which you
left out in your initial post. And as Tom pointed out, you intentionally
framed your post so as to make the refund appear illegal or questionable.