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Is George Kaiser – Tulsa’s richest man – a tax criminal?

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Bet you will not see, hear, or read about this issue from any media source within the borders of Oklahoma. Kaiser is a very powerful man who has been quite beneficient to the community.

But according to Sunlight Foundation, Kaiser has turned the Sooner State into his personal tax haven, not reporting personal income and settling issues with the IRS for pennies on the dollar.

Funny thing is just a few years ago the billionaire was testifying to the OK legislature in favor of raising taxes on oil companies! Why? Because he can afford the taxes, while smaller less billionairy companies cannot and would have to scale back exploring and producing operations. Funny guy, that George.

All this is related to the slowly growing scandal related to Kaiser’s (GKFF was majority shareholder) failed solar company Solydra. However this is just the latest scandal involving the Kaiser.

But the impact on taxpayers of Kaiser’s career goes far beyond the $535 million loss. Kaiser has built his fortune in part through shrewdly playing the Internal Revenue Code. 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

So while you suckers were paying up to 37% on your taxes, George was paying diddly squat!

Do you think any of these feckless #occupiers will dare raise their voices against the big, bad, Bank of Kaiser? Hell no!

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Written by thetulsan

October 13, 2011 at 2:03 pm

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