POTUS Gets Tax Policy Advice from Lindsay Lohan

By Teresa Ambord

President Barack Obama is surrounded by advisers, official and unofficial. Everyone has an opinion. But it’s doubtful he expected to be getting tax policy advice from “Mean Girl” actress, twenty-three-year-old Lindsay Lohan.
 
Based on her other comments, Lohan seems to support Obama’s bid for reelection and his presidency overall. But she’s not happy with his plans to raise tax on the so-called wealthy, and she’s tweeting him to task over it. 
 
After his speech at the DNC Obama sent out Twitter messages like this one: “I’ve cut taxes for those who need it: middle-class families, small businesses.” President Obama. 
 
Obama has been clear that he wants to raise tax on what he terms "the wealthy," while many of those who fall under his definition of wealthy argue they’re nowhere close to being rich. Lohan, includes herself among them and wants to know “What about me?”
 
In response to Obama’s message, Lohan tweeted back: “@BarackObama we also need to cut them for those that are listed on Forbes as 'millionaires,' if they are not, you must consider that as well.” 
 
Like it or not, the public is used to celebrities using their public forums to broadcast their political views. We've also grown used to reports of big names in sports and entertainment who are paid tens of millions every year, yet unlike us regular folks, they can’t find the money to pay their tax bills, their mortgages, their child support, and other financial obligations. Lohan isn’t one of Hollywood’s richest stars, but she’ll reportedly bring in over $2 million this year from a spread in Playboy and roles in Liz and Dick and The Canyons.
 
Unfortunately for Lohan, she has done much to destroy her credibility since her rise to stardom. 
 
Drug and alcohol abuse and failed stints in rehab, including one where she attacked a worker at Betty Ford Center who insisted she take a breathalyzer test when she appeared intoxicated (Lohan was sued by the worker and after fighting it, settled quietly). Then there was the jail time the court-ordered community service, and probation after the theft of a necklace from a jewelry store. Currently she’s facing the accusation that she stole $100,000 in sunglasses and watches from the home of her friend, Sam Magid.
 
And just weeks ago, she was banished from the Chateaux Marmont Hotel where she had lived for weeks. After running up and not paying a bill topping $46,000 – a big chunk of which was from use of the mini-fridge – she was asked by the management to leave and not return.
 
Heard enough? Back up to the beginning of 2012 when Lohan learned for the first time that she was delinquent in her federal taxes related to 2009 income to the tune of $94,000. Say what? Who knew celebrities have to pay federal income tax?
 
There's more, but the point is made. Lindsay Lohan seems to be her own biggest enemy, made worse by the lack of a good financial manager. Forbes magazine reported that in response to Lohan's tweets to Obama complaining about taxes, one PR professional advised her to delete the tweets immediately. 
 
With Uncle Sam wanting his share, legal troubles mounting, and creditors wanting to be paid, it’s no wonder she feels beleaguered by talk of raising her taxes. Still, in this troubled economy it's doubtful that many Americans will lend her much sympathy when it comes to wanting a tax break. 
 
So far, the President hasn’t publicly responded to her Twitter appeal for tax relief for celebrity millionaires. 
 
Related articles:
 

You may like these other stories...

IRS must take oath on Lerner emails: judgeMackenzie Weinger of Politico reported on Thursday that a federal judge ordered the IRS to explain under oath how it lost emails connected to Lois Lerner, the ex-IRS official at the...
The Republican-controlled House of Representatives passed a bill on Friday morning that would permanently extend the bonus depreciation tax break for businesses.The measure, HR 4718, which was crafted by Representative Pat...
The Republican-led House of Representatives is expected to pass a bill this week that would permanently extend the bonus depreciation tax break. But don’t expect President Obama to sign it.The Obama administration said...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.