Word: lindseyism
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Dates: during 1990-1999
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Certainly the tax question hits a raw nerve. Presidential adviser Bruce Lindsey, a former Arkansas lawyer designated to field inquiries about Whitewater, angrily implies that TIME wants to write "a story that the Clintons are tax cheats." (Wrong: any underpayment could have been the result of excessively casual bookkeeping or following bad advice.) Lindsey also brandishes a folder containing copies of canceled checks that he says document all the Clintons' tax deductions related to Whitewater, which he insists are legitimate. But he refuses to make any public, complaining that the press would only report such information wrongly. The White House...
...White House in large part has itself to blame for the tax questions coming up now. They arise largely because Lindsey tried yet again to explain how the Clintons could have lost $68,900 in Whitewater, as attorney James Lyons claimed in a 1992 report issued on their behalf, when they had not documented that they had invested anywhere near that much. Lindsey told the Associated Press that slightly more than $41,000 of the loss consisted of interest the Clintons paid on Whitewater-related loans and deducted on their federal income tax returns. Lindsey told TIME that the rest...
...TIME that Lyons also counted, as a contribution to Whitewater and thus an eventual loss to the Clintons, a check for $20,744.65 that actually represented repayment by Bill Clinton of a personal loan. The loan, says McDougal, was for campaign expenses and had nothing to do with Whitewater. Lindsey insists the loan payment was Whitewater-related but says he does not know exactly how the proceeds were used...
White House adviser Lindsey now says the Clintons paid, and deducted from their federally taxable income, "about $10,000" of interest in 1978. Records examined by TIME, however, indicate that the banks received at most $5,752 in interest that year. So how could the Clintons have claimed they alone paid $10,000, even if they paid the McDougals' half-share as well as their own? Frank Burge, who was then chief lending officer for Citizens Bank, says he cannot explain...
...would a lawyer ask the Justice Department to subpoena some of the papers of his own clients -- especially if those clients are the President of the U.S. and his wife? White House senior adviser Bruce Lindsey has a simple . answer: "Privacy." Indeed, subpoenaed papers become part of the record of a criminal investigation, unavailable for release under the Freedom of Information Act and thus shielded more effectively than otherwise from Congress and the press...