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Chris Christie for President!
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Chris Christie for President!


Apr 24, 2015, 8:36 AM

Once again Chris Christie proves that his only talent is to play a shell-game with money:


1) Christie puts his henchmen and cronies on the NJ payroll

2) those cronies work on his campaign on the taxpayer clock

3) in working for his campaign, they use the bridge and any other public asset as a weapon to punish those who do not "play ball"

4) when they get caught, they get legal defense courtesy of the taxpayer, from Christie's old firm

5) Christie's old law firm rakes in the bucks, while also giving legal defense to Christie's campaign

6) Christie's campaign goes insolvent, the law firm writes off the debt and gets a tax write-off


Net result? Taxpayer gets stiffed, Christie's cronies live large

http://www.nj.com/politics/index.ssf/2015/04/christies_campaign_debt_related_to_george_washingt.html#incart_river

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Please to explain point #6...


Apr 24, 2015, 8:52 AM

if a company writes off a receivable, it doesn't get a "tax break". It just doesn't get the profits from the previously reported revenue that was written off. Writing off receivables is not a "good thing" for a company. The tax implication is also very dependent on the type of accounting used and if they already accrued for bad debt, etc..

I don't think it really matters to the point of the story, point 6 just didn't make any sense to me.

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Re: Please to explain point #6...


Apr 24, 2015, 10:16 AM

I have to agree with that. I work at a law firm and we hate it when a client stiffs us.

2024 purple level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up

Falsehood flies, and truth comes limping after it, so that when men come to be undeceived, it is too late; the jest is over, and the tale hath had its effect: like a man, who hath thought of a good repartee when the discourse is changed, or the company parted; or like a physician, who hath found out an infallible medicine, after the patient is dead.
- Jonathan Swift


Oddly enough, with subtitles...


Apr 24, 2015, 2:57 PM

https://www.youtube.com/watch?v=XEL65gywwHQ

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null


LOL...that is exactly what i think about every time I hear..


Apr 24, 2015, 3:49 PM

that term.

And 99% of the time the person using it has no idea what it means.

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And they're the ones writing it off.***


Apr 28, 2015, 6:44 PM [ in reply to Oddly enough, with subtitles... ]



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Replies: 5
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