Jet Setter

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Jan 04, 2006 - 06:10 PM

Jet Setter

by Carmen Balber

The Sacramento Bee reported another shady Schwarzenegger business deal yesterday: One of the gov's companies avoided millions in state and federal income taxes by buying a jet plane and leasing it back to the airline they bought it from.

The airplane deal was set up by an investment firm whose role in developing these tax schemes is under investigation by the IRS. The gov's people won't comment on whether the Feds are on the gov's tail too. But Team Arnold's silence on Schwarzenegger's jet setting begs the question: What else are they hiding?

"Arnold likes paying taxes," claimed financial advisors during the recall campaign. Yet the candidate who said he didn't need money from anybody (yet proceeded to become the state's most prolific fundraiser) also fudged his lines when he claimed he paid all the taxes he owed.

The gov's last secret business deal -- a multi-million dollar contract with muscle magazines that benefited from his official actions -- crashed and burned.

Full disclosure of Arnold's financial dealings and tax returns is long overdue.

ArnoldWatch is a project of the Foundation for Taxpayer and Consumer Rights, a non-profit, nonpartisan organization. FTCR does not endorse or oppose candidates.