FloydFreak's Blog

That is the most ridiculous and facists thing they could do.
What is next? They will tell you that you should be earning XX amount but your employer only pays you YY amount and x is greater than y so you have to pay a big fat $$$$$$$?
Don't even get me started on taxes. The IRS sent my a letter for my 2006 return and I owe them $1205 more than the 12000 I paid. And they sent it to me and said I had 30 days to pay it or file an extension. I DON'T OWE IT but they are going to make me fight tooth and nail.

"Imputed" income has been in the IRS Code for many, many years.

A few "imputed" income items included in taxable income are: the value of life insurance paid by the employer on over $50,000 of coverage, the value of a company car supplied to an employee to use 24/7, & some interest free or below market interest loans.

These type "imputed" income provisions have remained in the IRS code through administrations & Congresses both Republican & Democrat. They have remained even when other major tax law changes are enacted.

As for the claim that the dreaded libs want to tax you on your imputed value of your house - I went to the boortz web site figuring that he can't just expect anyone to blindly believe this without proof. Granted, I didn't look everywhere on this site, after all I want to save some of the laughs for another day. But where is the proof to back up this claim? This claim was also made on "Today's Nuze" of 11/01/06. There are links all over that posting, but no links when he talks about this house value imputed income.

OK - so I put "Democrats Imputed Income" in a search engine. There is a few sites claiming this in Democrats Secret Plans, but no proof.

So where is the proof to back up this claim? Is there any proof that a majority of Democrats supported this? How about even proof that 1 Democrat proposed this?

And since the Democrats controlled Congress for the first few years of the clinton administration, why wasn't this claimed plan hatched?

If a tax can be levied on something like a "imputed income," just imagine what this precedent could and would be forged into? Leave it to the liberal Left to outdo themselves in creating nefarious schemes levied against the productive members of this society.

If successful, the new territory would open the flood gates for future punitive taxation on any and all tangible assests citzens strive to gain all through life. BTW, don't imagine that any such tax revenues would ever reach those in poverty and need...that won't happen!!!

Thanks, D. I'll be sure to do a little research myself. However, I have found Boortz to be among the more (if not most) credible of sources for information. On the other hand, he always encourages his listeners to do their own research.

RL: My IRS horror story goes back fifteen years to my divorce from wife #1. She under-reported income for several years in the late-80's. She had two SS numbers and was working one job under each number (surprisingly, she did not get caught at the time). By the time that the IRS caught it, we had been divorced.

The IRS sent the notifications to me. I told them that it was HER income and HER SS number and I offered to send them one-half of the back taxes due (I even gave them her address and phone number). They threatened to come after my assets so I paid the whole thing. This was for 1989. About nine months later, they came at me AGAIN for 1990. Guess who coughed up the cash - AGAIN? Hint: Not my ex.

Speaking from my one (and only one) audit with the I.R.S., I learned that all of my citizen's rights remained outside the door I just closed behind me. Although I could have appealed their findings, it came to me that it would only prolong the agony (and the penalties). I couldn't even cxxp on the city hall door step...wrong den of thieves.