MC Hammer victim of smear campaign: does not owe IRS

More at Zennie62.com | Follow me on Twitter! | Get my widget! | Visit YouTube | Visit UShow.com



MC Hammer, the legendary entertainer and friend (we met at the BizWorld luncheon in December 2007 and then catch up with each other at tech events), is the victim of a nasty, yet very sloppy smear campaign. Someone is reporting that he owes the Internal Revenue Service $600,000, and this wrongheaded information has been spread around the Internet. But not one to back down from a fight, Hammer says that he paid the IRS in an issue that's almost two decades old.

Today, Hammer issued this press release to me:

“I paid the IRS 100 percent of their claim,” said Stanley Burrell, better known by his rap star moniker

MC Hammer. “In the past year or so, they decided--wrongly--that I owed them additional taxes from 15 years ago. I am contesting this claim through my tax attorneys and my case is making its way through the IRS appeal process. I hope to be successful.”

Hammer said that the alleged past due amount of approximately $625,000 is not related to his current successful business ventures and have no impact on them. Hammer owns or works on several businesses including: Dance Jam, his own record label, production company, and musical appearances, as well as other ventures.

Hammer is currently being featured on “Hammertime,” television show on the A&E network. http://www.aetv.com/hammertime/. He has more 1.2 million followers on Twitter http://twitter.com/Mchammer.

He said news reports today incorrectly give the impression that that the music star is facing new financial issues, but that is not the case.

“I think the IRS claim is wrong and unfair,” he said. “When there was a sum of $7 million dollars available, the IRS took the amount they said was due them. Now they want to come back for more now that it's 15 years later? That’s just not right and I’m fighting that nonsense.”

 

MC Hammer

 
What I wonder is why anyone would care to put out false information as was done here. I can personally say that Hammer's the kind of person who helps people and is generous, at times to a fault.

McCain's no economist, he's confused about Obama's tax plan - and apparently his own, too!

Senator Obama’s plan will not raise taxes - it WILL provide a bigger break for middle class Americans than Senator McCain’s plan. As numerous outside observers agree: McCAIN’S claims that Obama will raise taxes are “WRONG,” “FALSE,” “MISLEADING”

Do you trust factcheck.org? That' s one of many sources cited in the article McCain’s claims that Obama will raise taxes are wrong.

It’s misleading to tag Obama for something that was built in to the Bush tax cuts. Remember that they are set to auto-expire - that's the law Bush signed.

Senator McCain has announced that he would balance the budget by 2013.

The Congressional Budget Office (CBO) projects that the unified budget deficit will be $443 billion in 2013 assuming that expiring tax cuts are extended. To balance the budget in that year John McCain would have to pay for all of his campaign proposals plus cut another $443 billion of spending. To give a sense of why this pledge is not credible, cutting spending by $443 billion would require:

• Cutting Medicare by 81 percent OR

• Cutting Social Security, Medicare and Medicaid by 33 percent OR

• Cutting non-defense discretionary spending – which pays for education, veterans, air traffic control and justice – by 79 percent

And these spending cuts would be on top of the hundreds of billions of dollars of spending cuts Senator McCain needs to pay for his existing proposals including: increasing defense spending, cutting corporate taxes, eliminating the Alternative Minimum Tax (AMT), and a small tax cut for middle class families with children (a total of $125 for middle class families with 2 children and $0 for 101 million households who do not qualify). The New York Times has estimated that Senator McCain’s budget plan “will add $200 billion to $300 billion or, depending on his voluntary tax system, even more” annually to the deficit.

Without these offsets and spending cuts, the McCain budget would leave a deficit of at least $650 billion to $750 billion in 2013 alone. No wonder so many Republicans are now reporting that they’ll vote for Barack Obama in November.

read more | digg story