Van de Putte releases tax returns -- loses thousands gambling in Vegas

[TexasTowelie]

AUSTIN — Democratic lieutenant governor nominee Leticia Van de Putte released three years of tax returns Friday, showing that she and her husband, Pete, earned combined total incomes ranging from $143,000 to $184,000 between 2010 and 2012.

The federal filings demonstrate that the San Antonio state senator and her husband's income is largely dependent on cash generated by the family's flag business, Dixie Flag Manufacturing Company, which made up about 72 percent of the couple's income in 2012.

As a state senator, Van de Putte is slated to be paid $7,200 annually for the job, but in her filings she reported earning less than that nominal sum in each of the three years: $5,733 in 2010, $4,600 in 2011 and $5,976 in 2012. She also reported earning $15,925 of annual income in 2010 from San Antonio's Davila Pharmacy and an average of $16,000 a year during 2010 and 2011 for work with ADP TotalSource, a provider of business outsourcing tools.

Van de Putte, a pharmacist for the last 30 years, has filed an extension on her taxes from last year.

According to tax returns released Friday, Van de Putte and her husband lost a total of $10,000 gambling in Las Vegas in 2011 and 2012.

They also reported about $42,500 in royalties from XTO Energy, a subsidiary of Exxon Mobil Corp. that specializes in fracking, for the three-year period.

http://www.mysanantonio.com/news/politics/article/Van-de-Putte-releases-tax-returns-5430872.php

[font color=green]While gambling is legal most Texans do not want to read about their elected officials being involved with gambling. Most likely those losses went to fund right-wingers like Adelson and Steve Wynn.

The rest of the financial disclosure about royalties from XTO is also far from ideal.[/font]

[TreasonousBastard]

1. Once we realize that NO candidate...

will be "ideal", how's she compare to her opposition?

With the less than perfect vs. the rightwing scumbag, I go for imperfect every time.

[TxDemChem]

8. So true. I hate the myth of the perfect candidate.

It doesn't exist. We all have skeletons.

[unblock]

2. why would someone report gambling losses? my understanding is that gambling losses are only

deductible to the extent they offset gambling wins. if she won $10,000 and also lost $10,000, then the reporting is very misleading.
if she didn't win anything, why would she report $10,000 of losses as she can't count it as a deduction?

unless, i think, if she's considered a professional gambler, then perhaps she could deduct the full $10,000 as a business expense. but then, that would certainly be a key detail omitted the reporting.

[mbperrin]

3. $5000 a year in gambling losses for a couple making $143k or better

is just entertainment, less than 4%.

My cell and cable bill are more than that, so why focus on that? Well, she's a Democrat and a woman. Nuff said.

I have never voted for a Republican, and I will not start now for any reason, no matter how hard the bought press tries.

[TexasTowelie]

4. I guess that we can blame it all on her husband.

[mbperrin]

5. And of course, we can overlook all FOUR

Republican candidates wanting creationism taught in schools.

Anyone think that's really preferable to someone who gets in a bit of time on the blackjack tables?

[Paladin]

6. Compared to Dan Patrick and the other Repub candidates, Leticia is still a saint.

How about we keep our eyes on what's truly at risk in the upcoming Lt. Gov. race? If I want a nitpicking downer critique of our candidates, I'll rely on the multitude of DU Texas-Haters who reside in Blue States. "Far from ideal"? Jesus H. Christ.....

[TexasTowelie]

9. Yes, I know that I shouldn't be so critical and I'll still vote for Leticia.

I guess that I was tapping into some concerns that other might raise. Hopefully, the voters can overlook the gambling issue when compared to the hypocrisy of Dan Patrick.

[cloudbase]

7. That ADP connection is a bit troubling. n/t