Palin Administration Against Sudan Divestment Before It Was For It, Documents Show

Republican vice presidential candidate Alaska Gov. Sarah Palin speaks duringa vice presidential debate at Washington University in St. Louis, Mo., Thursday, Oct. 2, 2008.(J. Scott Applewhite/AP Photo)

 

Not quite, according to a review of the public record – and according to the recollections of a legislator and others who pushed a measure to divest Alaskan holdings in Sudan-linked investments.

“The [Palin] administration killed our bill,” said Alaska state representative Les Gara, D-Anchorage. Gara and state Rep. Bob Lynn, R-Anchorage, co-sponsored a resolution early this year to force the Alaska Permanent Fund – a $40 billion investment fund, a portion of whose dividends are distributed annually to state residents – to divest millions of dollars in holdings tied to the Sudanese government….read more by clicking title.

The Alaska Permanent Fund currently holds $22 million in Sudan-linked investments, according to the non-profit Sudan Divestment Task Force. Divestment advocates say the fund does not need an act of the state legislature to divest itself of those holdings.

The McCain-Palin campaign did not immediately respond to a request for comment.

Sen. John McCain, R-Ariz., has been a strong supporter of Sudan divestment efforts, and has urged Americans to liquidate their holdings in companies who do business there. He was criticized for that position when it was revealed in May his wife Cindy held $2 million in investment funds owning shares of Sudan-linked companies. She sold those holdings following a reporter’s inquiries.

McCain’s Tax Returns Hide Gambling

Senator John McCain is a gambler. If I’d known that right away I would have immediately seen what was wrong with his tax returns.

…..Gambling has tax implications. According to IRS Publication 17, “Your Federal Income Tax”, 2007 edition, page 89 “Gambling Winnings. You must include your gambling winnings in income on Form 1040, line 21. If you itemize your deductions on Schedule A (Form 1040), you can deduct gambling losses you had during the year, but only up to the amount of your winnings.” In other words, you can’t subtract your losses from your winnings and just not report. You have to report the winnings, and then claim the losses.

But McCain’s tax returns say nothing about gambling winnings or losses.

As a casino gambler, McCain is likely to have lost more than he won. But by not reporting his winnings, the different percentage calculations built into the tax calculation are thrown off, and if he gambled much at all, he has underpaid his tax. The amount of understatement of tax may be minimal, but that’s not the point.

The real purpose of preparing his tax return and omitting the gambling winnings is so that people would not know how much he gambled. If he won $200,000 playing craps in Las Vegas, it would make a difference in the way voters viewed his suitability as a presidential candidate.

There are circumstances under which the tax returns could be correct, such as McCain gambled once in 2007, not at all in 2006, and lost everything the one time he gambled. Such an explanation is unlikely in light of McCain’s alleged long history of gambling.

I think we are looking at tax returns calculated to hide an aspect of the candidate. My 35 years of experience in taxes tells me these tax returns are wrong, and we do not know the true scope of McCain’s gambling or of his potential obligations to gambling enterprises.

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