Update: Jason doesn't feel the way the rest of this post says. See the link below.

http://iraqnow.blogspot.com/2004/08/edwards-s-corporation-tax-shelter.html

Jason Van Steenwyk of Iraq Now is convinced the press is biased against Bush, but he still took the trouble to question a NY Times story critical of Kerry.

So what, exactly, is the tax shelter the New York Times is playing 'gotcha' with?

John Edwards, a high profile professional in a business with significant potential for malpractice liability...

wait for it...

owns an S corporation.

That's it. That's all.

And that generated a big-assed story in America's Newspaper of Reckless, with its clueless political reporters having to bother to ask "is it ethical?"

Yes, it's ethical. It's more than ethical. S corporations are a standard practice in law firms, medical practices, accounting firms, and other professional practices.

In view of this, perhaps Instapundit needs a correction. The last four words are not part of what Instapundit is quoting, they're from Reynolds.


Here's something that could have been a front-page story, but which the NYT put at the bottom of Page 15 and other papers ignored. John Edwards, the self-proclaimed champion of the little guy, used a tax shelter to avoid paying $600,000 in Medicare taxes--this from a man who made $27 million in the four years before entering the Senate and had criticized tax shelters for undermining Medicare. What would the media reaction had been if Dick Cheney was found doing the same thing?


I think we know.

Mailed to Reynolds about 10:30 PM est Monday July 14.