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Menendez’s Tax Disclosure Raises Questions About Book Deal Income

U. S. Senator Bob Menendez made his last five years tax returns and U.S. Senate Financial Disclosure reports available to the media for inspection today at his campaign headquarters in New Brunswick. 

In 2011 Menendez’s reported wages of $156,250 from his U.S. Senate salary of $174,000.  His representatives explained that $17,750 of his salary went  into a deferred retirement account and was not reportable as wages.   He also reported $15,282 in taxable income from  a 5 unit residential rental property in Union City, $292 in interest and $50 in dividends for total taxable income of $171,872.  He deducted $6,436 in Employee Business Expenses.

The senator paid $36,961 in federal income taxes (21.4%) and $9,889 in NJ income taxes (5.2%) in 2011.

As a tenant in his North Bergen home, Menendez does not pay property taxes.  However he did pay $9,669 in property taxes on the Union City investment property he purchased for $47,500 in the 1970’s.

According to Menendez’s 2010 and 2009 U.S. Senate Financial Disclosure Reports he had an agreement with New American Library (NAL), a division of Penguin Group (USA) wherein he would receive a $50,000 advance of royalties to be split with his co-author, Peter Eisner,  for their book, Growing American Roots: Why Our Nation Will Thrive as Our Largest Minority Flourishes$25,000 was to be paid upon signing the agreement with NAL in January 2009 and $25,000 upon delivery of the manuscript for the book that was published in October of 2009.

Menendez’s agreement with Eisner, who’s name did not appear as a co-author on the book cover or title page, was that as ghost writer he would receive the first $50,000.  Menendez would receive the second $50,000 and that the two would split future royalties which would range from 7.5% to 12.5% of sales on a 50-50 basis.

No income from the book was reported on Menendez’s 2011, 2010 or 2009 tax returns.

“Bob didn’t make a dime on the book, that’s what he told me,” said campaign advisor Brad Lawrence.

Menendez 2012 Communications Director Paul Brubaker said that Eisner received the first $50,000 and that sales of the book, which is selling now on Amazon for $1.38 (hardcover), were insufficient for additional royalties to be paid.

Brubaker and Lawrence did not know if Menendez paid Eisner after receiving payment from NAL, which would have triggered a tax reporting requirement, or if NAL paid Eisner directly in which case there would have been no tax reporting necessary for the senator.

A call to Penguin Group (USA) for clarification has not been returned.

Posted: August 23rd, 2012 | Author: | Filed under: 2012 U.S. Senate Race, Bob Menendez | Tags: , , , | 5 Comments »

Important Information: Medicare Surtax for High-Income Employees

As a result of the Patient Protection and Affordable Care Act, effective

January 1, 2013, employers will be required to withhold a 0.9% Additional

Hospital Insurance Tax on High-Income Taxpayers (a.k.a., ³Medicare

Surtax²).

 

High-Income Taxpayers are defined as those with an annual income of

$200,000 for individuals, $250,000 for joint filers, and $125,000 for

married individuals filing separately. The increase applies only to the

employee portion of the Medicare tax, though the employer is responsible

for withholding and reporting.

 

Employers should be mindful that the law requires an employer to withhold

the Additional Medicare Tax on wages or compensation it pays to an

employee in excess of $200,000 in a calendar year.

 

Reconciliation of over or under withholding for joint filers or married

individuals filing separately, is accomplished when the employee files

his/her income tax return.  An employee has the option to have additional

Federal Income Tax withheld on Form W-4 in anticipation of meeting the

wage threshold for the additional Medicare Surtax.*

 

ADP¹s payroll application has been updated and your company payroll

should reflect the new Medicare Surtax requirements as applicable,

beginning in calendar year 2013.

 

For more information about the Additional Medicare Tax, you can access

the following links:

€ Refer to the IRS FAQ¹s at

http://www.irs.gov/businesses/small/article/0,,id=258201,00.html

€ Details can also be found on the ADP website at

http://www.adp.com/tools-and-resources/legislative-updates.aspx

 

We appreciate the opportunity to serve your payroll and tax filing needs.

 

Sincerely yours,

Your ADP Service Team

Posted: August 23rd, 2012 | Author: | Filed under: 2012 Presidential Politics, Economy, ObamaCare | Tags: | 10 Comments »

The bullshit of the abortion debate

Congressman Todd Akin’s asinine comments about “legitimate rape,” pregnancy and abortion have knocked medicare and the economy off center stage in the political debate, at least temporarily.

Akin has apologized.  Yet his comments are unforgivable because he is clueless to the hurt and damage he has caused and continues to cause.  He is clueless to how hurtful his comments are to women, particularly rape survivors.   His apology is empty because he doesn’t realize what he did.

Akin is clueless to the political damage he is causing as evidenced by the fact that he refused to resign his candidacy for U.S. Senate.  He thinks he can win.  He says his campaign is not about him, but about his message, as if he is a messiah with a unique message that no one else can deliver.  Akin is a candidate for a straight jacket and the U.S. Senate.

Republicans are losing women over the Akin gaffe because 1) they failed to get him out of the Missouri U.S. Senate race and 2) their response is too male. Empathy is missing.  The Republican response, which failed, is strategic and politically expedient.  The strategy is sound, but empathy is missing and women feel that.

Much of the empathy coming from the left is false.  It is strategic.  But at least they are trying. Thus the gender gap will expand until Republican males get empathy for women, or at least fake it as well as Democratic males do.

The sin of it all is that on a political level the abortion debate is bullshit.

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Posted: August 22nd, 2012 | Author: | Filed under: 2012 Congressional Races, 2012 Presidential Politics, 2012 U.S. Senate Race, Abortion, Rape | Tags: , , | 35 Comments »

The real war on women

Dr. Jill Q. Vecchio is a radiologist in Colorado.

Posted: August 21st, 2012 | Author: | Filed under: 2012 Presidential Politics | Tags: , , , | Comments Off on The real war on women

Shark feeding frenzy at Island Beach State Park

This video was shot on August 16 at Island Beach State Park by Tom Lynch of AngryFish.TV

Posted: August 21st, 2012 | Author: | Filed under: Jersey Shore | Tags: , | Comments Off on Shark feeding frenzy at Island Beach State Park

Division of Alcoholic Beverage Control Warns Underage Drinkers

 

-More Than 200 Arrests Thus Far in Shore Towns-

 

TRENTON – With just two weekends left in the unofficial summer season, the Division of Alcoholic Beverage Control is warning underage drinkers and those who would help them get alcohol to think twice before they try to buy liquor.

 That’s because both local law enforcement and ABC investigators have made more than 200 arrests at the Shore this summer.

 “We are going to be relentless in our efforts to combat underage drinking,” said Division of Alcoholic Beverage Control Director Michael Halfacre. “We are placing a spotlight on everyone involved in this: from the underage person who tries to buy, to the adult who agrees to help them buy, to the bartender who serves them.

The ABC’s enforcement efforts are spearheaded by its Investigations Bureau. Since May, investigators have visited 130 licensed establishments in New Jersey and have carded 1,091 patrons, resulting in 81 arrests relating to the sale, service, or consumption of alcoholic beverages by person underage persons. Investigators are working closely with the State Police and county prosecutor’s offices in many of these details.

Recently, four people, including a bartender, were arrested and charged for underage-related violations at the Sand Bar Restaurant in Brielle. That bartender, Jessica Zeffiro, 28, of Ocean, was alleged to have sold alcohol on August 4 to 31-year-old Valerie Gialanella, of Barnegat, who then passed those drinks to Carly Unger, 19, and Alexa Rickert, 20, of Cedar Grove. Gialenella was charged with providing alcohol to persons under the legal age and Rickert and Unger were charged with consumption of alcohol underage.

That same day, ABC investigators observed Jeffrey M. Santiago, 21, purchase alcohol for Michael Malley, 18, at Corner Liquor Store in Union Beach. The investigators, who were serveiling the store from an adjacent parking lot, arrested Santiago and Malley after the former handed off the alcohol. Both men were Union Beach residents.

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Posted: August 21st, 2012 | Author: | Filed under: Division of Alcoholic Beverage Contril | Tags: , , | 3 Comments »

ANNA LITTLE EARNS BIG SUPPORT

Red Bank, NJ The newly formed American Tea Party Congress is not wasting any time in showing its political teeth. The statewide organization comprised of 31 statewide tea party and conservative groups, voted to unanimously support Anna Little in her congressional bid against the notoriously liberal Frank Pallone, best known for his support of ObamaCare.

The feisty Little is known as a committed Constitutionalist, which resonates with Tea Party supporters who believe in limited government and fiscal responsibility.  New Jersey tea parties have learned the importance of networking and working toward a common goal.  Mayor Little will be the first candidate to benefit from their hard-earned knowledge.

Bob Gordon, spokesman for the American Tea Party Congress, said, “The unanimous vote to support Anna not only speaks volumes about her as a candidate, it also speaks volumes about what this group is capable of doing.  Three years ago when the Tea Parties erupted throughout this nation in response to an out-of-control government, many of our members were politically naive.  In a very short period of time we have been able to grow into a movement that will impact the future of this country.  Many were quick to report that the tea parties were no longer relevant and were disintegrating. Here in New Jersey, the reports of our demise were ill-informed and fictitious.  We are strong, we have united, and we intend to reclaim our country.  We will do this by vetting and supporting constitutional candidates and by speaking with one voice – loud and clear.”

Gordon continued: “Anna is the first of many candidates that will enjoy our support.  Others will soon follow.  Not only do we intend to support candidates, we also intend to keep them accountable once they are elected. We will not be ignored by the establishment any longer.  It’s time to reclaim America and the principles it was founded upon.  We believe wholeheartedly that Anna can help us lead the charge to achieving that goal.”

Gene Hoyas, the moderator and founder of the American Tea Party Congress also commented: “I am honored to be part of this historic alliance and to have had the opportunity to vote to supportAnna.  Organizing the Congress is a first and supporting Anna is another first. America is rising and we are determined that she will continue to rise until the land of the free and the home of the brave is safe from tyrants and despotic rulers.”

Posted: August 20th, 2012 | Author: | Filed under: 2012 Congressional Races, Press Release | Tags: , , , , , | 8 Comments »

Christie addreses the dismal July jobs report, New Jersey Comeback

Posted: August 20th, 2012 | Author: | Filed under: 2013 Gubernatorial Politics, Chris Christie | Tags: , , | 5 Comments »

Kyrillos jumps into the Rape and Abortion fray

Missouri Congressman Todd Akin, a GOP candidate for U.S. Senate, set off a national uproar and likely ended his poltical career with his comments comments about rape and abortion over the weekend when he said pregancy from “legitimate rape” was rare and that women’s body have a natural way of “shutting that whole thing down,” during an interview on a St. Louis Fox afflilate wherein he was asked about his views on abortion in the case of rape.

“From what I understand from doctors, that’s really rare,” said Akin said of pregnancy caused by rape. “If it’s a legitimate rape, the female body has ways to try to shut that whole thing down. But let’s assume maybe that didn’t work or something. I think there should be some punishment, but the punishment ought to be on the rapist.”
 

Akin issued an apology of sorts on facebook later in the day on Sunday and told Mike Huckabee on the radio that he should have said “forcible rape.”

President Barack Obama called Akin’s comments offensive during his press conference this afternoon.

GOP Presidential hopeful Mitt Romney distanced himself from Akin, calling the congressman’s remarks “insulting, inexcusable and frankly wrong,” according to the Washington Post.

Governor Chris Christie called Akin’s comments “asinine” and “ridiculous” during his press conference in Asbury Park this afternoon, according to Poltickernj.

In a press release, New Jersey GOP Senate nominee Joe Kyrillos took his criticism of Akin one step further than his fellow Republicans by addressing the congressman’s views on abortion :

“Like many I am outraged by Representative Todd Akin’s remarks regarding pregnancy and ‘legitimate rape’ – they have no place in our public discourse. But beyond my concern for our national public discourse, I am saddened and disappointed as a husband and a father to a 10 year old daughter. Not only are Representative Akin’s comments about a horrific act of violence wrong and inappropriate, he and I disagree on the issue of abortion, generally.”
(emphasis added)

Neither Kyrillos nor his campaign have responded to requests for a clarification on what he means by his “general” disagreement with Akin over abortion. 

U.S. Senate minority leader Mitch McConnell is suggestting that Akin withdrawl his Senate candidacy by the 5pm Tuesday deadline, according to the LA Times. 

Posted: August 20th, 2012 | Author: | Filed under: 2012 Presidential Politics, 2012 U.S. Senate Race, Abortion, Rape, Todd Akin | Tags: , , , , , , , | 31 Comments »

Christie to visit Asbury Park on Monday August 20

Governor Chris Christie will be holding a press conference on the Asbury Park boardwalk tomorrow afternoon, Monday August 20.

Following his meeting the press at 3PM, Christie is scheduled to greet boardwalk patrons and beach goers along the boardwalk and emphasize the importance of clean beaches and waterways to the New Jersey shore economy.

Posted: August 19th, 2012 | Author: | Filed under: Asbury Park, Chris Christie, Economy, Monmouth County | Tags: , | 8 Comments »