Tulsa, my hometown, is also home to George Kaiser. He and Ronald Pelosi, Nancy’s brother-in-law, are chums. Kaiser, a big Obama
bundler received $527 million from the Department of Energy (DOE) for the now defunct Solyndra, the solar panel company that went into start-up-mode knowing that China would undersell its panels by half the cost (because our government these days is cool like that). Kaiser was one of the few, and maybe the only one in history, capable of putting himself and his wallet before the taxpayers in the event bankruptcy came along, which it did in little more than months. There is new news today, but here’s some background first:
The story of Solyndra and Kaiser is so sick it will turn your stomach. He has a nasty habit of “taking advantage of the federal tax code in ways that some tax experts – including the IRS – believe to be illegal.”
As Allison describes it in his Sunlight post today, “in one six year period, during which he increased his net worth enough to land him on the Forbes list of the 400 wealthiest Americans, Kaiser reported taxable income to the Internal Revenue Service just once, totaling $11,699–equivalent to a full-time hourly wage of $5.62.”
He is a billionaire who paid $0.00 in federal income taxes for years. The George Kaiser Foundation donated only 2 percent of his $4 BILLION in assets to charity.
Did I mention that U.S. taxpayer HAVE TO PAY HIS LEGAL BILLS?
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