Well, it looks like Amy was right. Nathan Deal has finally released his tax returns, sort of. Some of the highlights:

  • Deal only released his personal, not corporate. His corporate taxes were the ones that included the Auto salvage business that inspired the whole ethics probe.
  • His personal taxes were only cover pages, not the affiliated schedules. There’s a lot you can hide in the schedules, and Roy has released ALL of his schedules.
  • He paid only 16% income tax on over 200K in income last year.
  • He was named one of the “Most Corrupt in Congress” and this failure in being transparent does nothing to dispel that notion.
 

11 Responses to Deal dump

  1. JMPrince says:

    The usual self dealing corruption, SSDD I’m betting. For a start. But it’s really necessary to have all the schedules & everything going back at least 6-7 years at a bare min. JMP

  2. Peter Tondee says:

    Amy, it’s all in the OCE report. There’s been amended reports there as well (i think).

    I’m just now sitting down and reading the whole thing for the first time. Pretty informative as I catch up (honestly, haven’t been really paying much attention). The most ironic thing that really jumps out at me so far is that the move to privatize the inspection service would have clearly cost him money. So, if you buy Nathan’s story, he put on his “pro-regulation” hat and supposedly argued for saftey concerns. Yeah, sure.

    It doesn’t explain the huge loss booked in ’06, but it does provide a lot of context for how he mis-applied and/or mislead reporting his earnings. They even have his accountants letter explaining the amendments to the tax filings.

  3. Amy Morton says:

    Great. I was going to compare 2006 to his financial disclosures for congress he links to on his site, but only 2008 forward are accessible on line. I’m sure they’re available, though. It says they keep them for 6 years.

  4. Amy Morton says:

    AP says the forms posted for 2006, 2007 and 2008 were amended returns. They would have been accompanied by this form:
    http://www.irs.gov/pub/irs-pdf/f1040x.pdf

    It provides a nice spot for an explanation. I think the people of Georgia deserve an explanation.

  5. Peter Tondee says:

    And… Checking the Nathan Deal wiki entry, someone posted a snippet from the OCE report that, in part, reads:

    “The OCE reviews the facts as presented at the time of review and does not take a position on whether Representative Deal’s income from GSD was mistakenly reported as earned income since 2006 on his federal income taxes…

  6. Amy Morton says:

    Oh, you’re the smart one. Nice graphics that lead me right back to -What the heck happened in 2006?

  7. Peter Tondee says:

    ok… And I’ve just learned that embedded images don’t work in comments.

    Graph Here

  8. MouthoftheSouth says:

    Where are the Schedule C’s? They stop in the Mid-90′s? Where is the income from the business? Is there a trust?

    How is the business held?

    Look, I am not opposed to making money, but I would like to know what the business is paying. I bet it rakes it a ton of government money and then just depreciates the salvaged cars until there is nothing to pay.

    Seriously, why isn’t the business relationship even disclosed? Did anyone see, say post 1988, where the Business is paying him?

  9. Peter Tondee says:

    Yeah, need the schedules for ’06. That’s a cluster of a statement. What makes the numbers look so weird in the broader context is that pre-Congressional pay, Deal is earning through through the partnerships and S corp line item 17. That falls off immediately after being elected, and only creeps up mid-00′s. Then we have the massive loss that covers an expected tax liability. Without the schedules we have no idea what that’s all about, but it’s the first easy mark in the records.

  10. Amy Morton says:

    I’m still looking, but check 2006. Holy cow. It would be like entry-level, “one of these things is not like the other.” 101K in itemized deductions? 230K in losses? 68K too much in tax? So, it’s April, right, and you’re filing your extension, and you pen a check for your estimated tax due, in this case more than 40K. That right there would be enough to stop my heart- most people’s hearts. But, then within the year, magic. He doesn’t owe the 40K. In fact he overpaid before he sent that portion in. Maybe it’s all legit, but it sure looks….odd.