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Tax Cheater Profile: That Young Single Guy Who Lies About the Fly in His Soup

Sound like anyone you know?

While only 15% of Americans surveyed fessed up to fudging their tax returns, 64% of those people were men, according to the survey of consumer attitudes and behavior. Thirty-five percent were single (47% when including people who have been divorced or widowed), and 55% were under the age of 45.

As if cheating on your taxes wasn’t deplorable enough, this person will most likely to pocket money that isn’t theirs, gets a friend to pose as a former boss and would cook up a finger-in-the-chili story:

While 73% of cheaters admitted to working a job under the table, only 20% of non-cheaters did. Self-proclaimed cheaters are also much more likely to keep the wrong change given to them by a cashier, to ask a friend to pretend to be a former boss for a reference check and to lie about their income to qualify for government aid.

Many of them also said they would wear an outfit once and return it, file false insurance claims, keep money they see someone drop on the floor, or lie about finding something inappropriate in their food just to get a free meal.

If you know a scumbag like this, at least you can report your suspicions safely now.

Tax cheats: Single, young and male [CNN via DB]

Rich-hating Legislation of the Day: The Ending Taxpayer Subsidies for Yachts Act

Sorry for being a little to the game on this one but everyone seems to still be in their meat-induced comas and this type of proposed legislation has left us wondering: IS NOTHING SACRED? If the affluent in our society can’t write off the mortgage interest on their second home that also happens to be boat, haven’t the terrorists won?


The Ending Taxpayer Subsidies for Yachts Act was introduced by Rep. Mike Quigley (D-IL) with co-sponsors Reps Tim Walz (D-MN) and Gary Peters (D-MI):

“There’s absolutely no reason why taxpayers should subsidize luxury yachts,” said Quigley. “As we work to address our budget challenges, closing this frivolous tax loophole is a no-brainer.”

“We’re going to have to make some hard decisions to tackle our national debt, but this isn’t one of them,” said Walz. “Closing this tax loophole restores the Mortgage Interest Deduction to its original purpose; helping middle class families realize the American Dream through homeownership.”

Currently, taxpayers are allowed to deduct mortgage interest for up to two homes from their tax returns. Yachts equipped with bedding, toilet facilities, and a kitchen qualify even if they aren’t used as a primary residence. The Ending Taxpayer Subsidies for Yachts Act would limit the tax deduction to only those who use their boats as a primary residence.

“We need to get the deficit under control, and that means simplifying the tax code and eliminating special interest tax giveaways like the Yacht Loophole,” added Peters. “Homeownership is part of the American Dream and we should encourage it, but yacht owners don’t need any special handouts, especially in the middle of a budget crisis.”

Also, it’s our understanding that the Reps will use the following footage to make a case for their bill:

[via DMWT]