As this blog exclusively reported that for some bizarre reason, 2 houses or a mansion and a baby mansion, at the same Obama address which has never been investigated, along with the photograph from Cook County's government website which shows a house on a street where there is no house or street corresponding on the Obama mansion, it is time that Barack Obama's financial structure be investigated by the IRS as the following criminal graft has taken place.
First as Obama's employer, Mr. William Miceli held title to this property, then Barack Obama could not have mortgaged the mansion through Freddie or Fannie as that is a more last resort, poor folks entity, and not meant for $1.6 million Georgian Mansions.
Financial institutions just do not hand over almost 2 million dollars to people with someone else's name on the title, for the obvious reason is the title holder does not have to pay the money back as his name is not on the mortgage, and PEOPLE CAN NOT GET A MORTGAGE ON PROPERTY THEY DO NOT HAVE TITLE TO or that would be like everyone putting down 1600 Pennsylvania Avenue for a loan and getting 2 million dollars for it.
Second, Obama lived at the residence, but as his name is not on the title, and it appears that Saddam Hussein's bagman, Auchi, provided the money to criminal Tony Rezko, that Mr. Obama not having title, was living in a mansion rent free.
In IRS terms, Obama took a $1.6 million gift, and it does not make any difference if he was "paying" a loan as the information on this is incomplete, because he was living in a home that was not his for free.
As Hawaiian mansions go for $4000 a night. Obama at least took that a month to live in Chicago in graft of $50,000 per year in gifts, which is $200,000 in 4 years at the mansion which he did not pay taxes on in gifts, exactly as Tom Daschle with his car and driver which got him into huge trouble.
Third, if Obama was paying the mortgage, then that is a tax deductible fee from IRS income taxes. The problem is though that Obama's name was not on the title, so you can not take a home mortgage deduction on a mansion, even if payments are made WHEN YOUR NAME IS NOT ON THE MORTGAGE.
That is akin to any taxpayer taking a deduction for a Hawaiian vacation and stating it was a home payment. No one can pay money out and call it a deduction when someone else actually owns the property.
Fourth, Mr. Miceli, owned the property, so in this, Mr. Miceli, had somehow received a $1.6 million mansion. That is either a gift of almost 2 million dollars, or if Obama, was somehow paying for this, then that was a huge amount of income Mr. Miceli was "receiving" which was being paid to a finance company.
It does not matter in IRS taxes if a bank gets the money, because what is happening is $1.6 million dollars is showing up as Mr. Miceli is transferring that house asset to Obama, as income to him and asset to Obama, or Mr. Miceli is giving a gift which Obama is libel for taxes on.
This entire process of Obama and his Georgian mansion is shady as writers in 2008 noted like Gina Cobb. The problem is the either or in taxes being owed. Obama either owes taxes as a gift, or Obama owes taxes in deductions he took on a property his name is not on, Mr. Miceli owes taxes on gifts or Obama owes taxes on the gift of free rent in a mansion his name is not on the title.
The even greater portion of this is property taxes are deductible, as in Obama had around $150,000 for the mansion and the baby mansion shows around $35,000 per year. That is once again around three quarters of a million dollars in deductions during the 4 years Obama's name was not on the home.
If people in apartments paid for the entire building, with their names not on the title, the IRS would not accept that deduction as it is invalid as people can not take deductions for something they do not own.
It is once again taking a Hawaiian vacation and calling it a mortgage payment. The two can not exist as tax laws mean deductions for specific things and not creative fantasy.
In all of this, it is possible that Barack Hussein Obama owes the US government in back taxes in the neighborhood of 3 million dollars. It is a given is any Chicagoan pulled this, they would be sitting in prison with Tony Rezko, as that is what got Tony Rezko into hot water was pulling this kind of creative accounting, and that is who all of these people were involved with.
Tom Daschle was made to pay taxes and back penalties on his graft and gifts, and it is past time in these hard Obama economic times that multi millionaire Barack Hussein Obama be made to pay the same mulit millions back to the US Treasury.
Spiro Agnew was forced to resign over tax cheating and it is past time that Barack Obama be investigated by the IRS and made to pay this money back, as it is an either or, and in each either and each or, Barack Obama owes money to the government, because you can not take deductions for things you do not own and if you do not own it, then it is a gift which taxes are still owed upon.
Factually, Barack Hussein Obama is a tax cheat and he should if he had any love for the United States resign, but he will not, so it is up to the Congress of these United States to impeach Mr. Obama in the House and have a trial in the Senate to remove him from office.
No America gets away with this in not Bernie Madoff and not the Walmart employee, and neither should Barack Hussein Obama.
Let Justice be served.
agtG 288
Gina Cobb, Attorney at Law
