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The rich are not like you and me

Feb 24, 2010, 12:00 PM EDT

Between their multiple businesses, homes, charitable initiatives and executive income, the McCourts’ finances seem outrageously complicated. I mean, it must me murder to do their taxes.  Oh wait . . .

The McCourts, who own the Los Angeles Dodgers (so she says; he says
he’s the owner and she’s not), jointly pocketed income totaling $108
million from 2004 through 2009, according to documents Jamie McCourt
recently filed in the couple’s divorce case in Los Angeles County
Superior Court.

On that sum, they paid zero federal and state income tax. Jamie suggests that some tax breaks will apply this year too.

The reasons why this is so are set forth in the article, but they can be summed up as “that tax code that the rich people are always complaining about actually treats rich people really, really well.”

  1. JBerardi - Feb 24, 2010 at 12:09 PM

    That seems crazy, but whatever, it’s not a big deal. It’s not like California really needed the money or anything.

  2. JCD - Feb 24, 2010 at 12:17 PM

    Um yeah all that nonsense about how the richest 3 percent pay 90 percent of our taxes or whatever that saying is, I always knew that was complete garbage. Biggest opponents of a flat tax are the people it will hurt the most, the rich who would lose all the loopholes they have to get out of paying their fair share.

  3. Old Gator - Feb 24, 2010 at 12:18 PM

    Not like you, maybe….

  4. Jonny5 - Feb 24, 2010 at 12:20 PM

    Those numbers just don’t add up to me…. hold on…. 5 years divided per month equals 1.8 million per month. But doesn’t she get a million per month in alimony??? So where is the unclaimed income that she brings up in divorce court is what I want to know, since alimony never equals more than half of what you’ll make… I think???? And to think zero tax, while I see close to a third of my income go to the gubmint.. Arrrrrrrrgggghhhhh (pirate for WTF???)

  5. Peter Piper - Feb 24, 2010 at 12:22 PM

    I have the sudden urge to fly a perfectly good airplane into an IRS building…..

  6. Bear - Feb 24, 2010 at 12:41 PM

    Good chance the IRS will look @ the McCourt’s finances, kinda hard for them not to on such a highly publicized divorce that is revealing all sorts of information to the public.

  7. Charles Gates - Feb 24, 2010 at 1:12 PM

    This doesn’t really surprise me. They have what, 326 properties? The annual depreciation expense alone has to be astronomical.

  8. Jimmy P - Feb 24, 2010 at 1:42 PM

    In other news, the sky is blue.

  9. APBA Guy - Feb 24, 2010 at 2:51 PM

    Further proof that those who write tax law, our duly elected representatives, are bought and paid for by the rich.

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