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2020-03-19 Home Front: Politix
CA Dem T.J. Cox Failed to Pay $175,000 in Taxes Despite Loaning Campaign More Than $250,000
[Wash Free Beacon] Embattled California Democrat Rep. T.J. Cox loaned his campaign more than $250,000 even as he failed to pay $175,000 in back taxes.
No mercy
Weeks after the IRS filed liens against Cox in January showing $145,000 in unpaid federal income taxes for 2016 and 2017, the state of California hit the Democrat with a new lien listing an additional $30,000 in unpaid 2017 personal income tax. Even as he failed to pay his taxes in full, Cox loaned his campaign more than $250,000 from July 2017 to March 2018 while mounting his bid to oust former California Republican representative David Valadao.

Cox will again face Valadao in 2020 after defeating the then-incumbent by less than 1 point. Republicans are hopeful they can win the district back in November, pointing to Valadao's success in California's open primary, which advances the two candidates with the most votes to the general election regardless of party. Valadao received 53 percent of the vote to Cox's 36 percent in early March.

The Cox campaign did not respond to a request for comment.
Oh, reeeaaally?
In addition to the January and March liens filed against Cox, the Democrat in 2017 paid $48,000 in unpaid income taxes dating back to 2015. Cox blamed the previous lien on the IRS.

"I have lived through basically bureaucratic incompetence," he said. "My check was stuck on the back of somebody else's payment."

Cox has also faced multiple liens against his businesses and was subject to a December lawsuit alleging fraud and failure to pay back $150,000 in loans. He dismissed the suit as "politically motivated."

Cox voted last week to block the Members of Congress Tax Liability and Garnishment Accountability Act of 2020, which would require members of Congress to report back taxes in their financial disclosures, garnish their wages to repay the debt, and hold their pay in escrow until liens are fulfilled. Following Cox's vote, the Valadao campaign accused the Democrat of "using his vote in Congress to protect himself."
Posted by Frank G 2020-03-19 09:32|| || Front Page|| [11134 views ]  Top

#1 Nothing to see here. Move along now...
Posted by M. Murcek 2020-03-19 10:30||   2020-03-19 10:30|| Front Page Top

#2 Just a sec. If he was elected, why doesn't he have the money - why get elected otherwise?
Posted by g(r)omgoru 2020-03-19 12:00||   2020-03-19 12:00|| Front Page Top

#3 In case you're curious, I estimate his approximate yearly earnings at $265,000 if he's single and incurring self-employment tax (Schedule C or guaranteed payments from a partnership) and paid in nothing via estimated tax payments and / or withholding from wages. If it's income not subject to self-employment, jack that income number up to $282,000. If he's married, the numbers are $327,000 and $350,000, respectively.
Posted by Raj 2020-03-19 19:50||   2020-03-19 19:50|| Front Page Top

#4 Shit - I used the wrong (2019) tax tables for the above numbers, and those two years of Cox's income can be dropped by about $5,000 or so in each case.
Posted by Raj 2020-03-19 19:56||   2020-03-19 19:56|| Front Page Top

#5 "I have lived through basically bureaucratic incompetence," he said. "My check was stuck on the back of somebody else's payment."

How did your payment, presumably sent in an envelope to the Fresno, CA IRS campus, miraculously get 'stuck' to someone else's payment? Did you jizz on it first so it got sticky? What a putz. Use EFTPS next time!
Posted by Raj 2020-03-19 19:59||   2020-03-19 19:59|| Front Page Top

#6 You are persistent in your accuracy. Like
Posted by Frank G 2020-03-19 20:00||   2020-03-19 20:00|| Front Page Top

#7 Hey - my middle initial is A, after all - it could mean many things!
Posted by Raj 2020-03-19 20:05||   2020-03-19 20:05|| Front Page Top

#8 Frank G - back in December, I put together this monster Excel spreadsheet (297 KB in size, all formulas, input sheets and worksheets that do the number crunching for this and that particular number) that basically calculates a 1040 tax return and its Mass. state equivalent. It's fairly accurate to incomes of about 400K; the only thing screwing me up are bugs I have with calculating two of the add-on Federal taxes - the Net Investment Income Tax and the Additional Medicare Tax, and those aren't terribly far off. After two weeks of testing and tweaking, I matched that spreadsheet to the tax software I use for 2019 - Federal income tax was off by a single dollar, and I found that bug after a few minutes of hunting and wrapping a few Excel statements with a =Rounddown(x,y) statement. Being a former software engineer geek, I was asking myself why I never attempted this before because once you have the basic plumbing installed, all that's needed is update the tax (and some other) tables, and incorporate some tweaks, so now I can do accurate estimates on the fly from a jump drive.
Posted by Raj 2020-03-19 20:18||   2020-03-19 20:18|| Front Page Top

#9 LOL, and all along these years, I assumed Raj meant you were Indian (dot) background!
Posted by Frank G 2020-03-19 20:43||   2020-03-19 20:43|| Front Page Top

#10 Raj was a silly high school nickname, the long version of which was Raj Kareem Abdul Hassan. You're probably a Lakers fan - you'll get that part, and that son of a bitch killed my Boston Celtics back in the '80's, so that shit was ironic in the extreme! My high school buddy Jim Beaupralant (in my German class) and I were goofing on Arabs back then, and he hung that one on me, sort of. I'm cool with it.
Posted by Raj 2020-03-19 21:02||   2020-03-19 21:02|| Front Page Top

#11 Bucking for Biden's Secretary of the Treasury?
Posted by CrazyFool 2020-03-19 23:51||   2020-03-19 23:51|| Front Page Top

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