Bush' Texas Rangers' plot thickens into tax evasion and more

Bush' Texas Rangers' plot thickens into tax evasion and more
By Jerry Mazza
Online Journal Contributing Writer
http://www.onlinejournal.com/Special_Reports/102404Mazza/102404mazza.html

October 20, 2004—As if Bush's sale of his $606,000 share of Texas Rangers stock to owner Tom Hicks for $15 million wasn't enough, there's more from deep in the heart of Texas to nail the good old boy, namely the possibility of tax evasion. That is, Bush declared the proceeds as a long-term capital gain, which it wasn't, as opposed to ordinary income, which it was. This means Bush paid at the capital gains' rate of 20 percent as opposed to the ordinary income rate of 39.6 percent. Beating the IRS out of nearly 20 percent in additional taxes. But the fun doesn't stop there....