Manifesto Part 2

Former American Idol winner Ruben Studdard has the IRS hot on his tail.  He reportedly owes the gubment $200K in unpaid federal taxes and almost $22K in state taxes.  Most of this money stems from prizes and cash received from winning the second season of American Idol.

Big Rube was dropped from his contract with J Records and his only source of income seems to be his part in the Broadway show “Ain’t Misbehavin’” which he’ll be starring in beginning in November.  Source

I don’t’ know what those paychecks will look like but I sure hope he’s got a few bucks saved up to pay these folks off.  Cus as we all know the IRS DON’T PLAY!

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Super producer Swizz Beats (nee Kasseem Dean) may have made $17 million last year but he reportedly owes the IRS almost $900K in taxes.  There’s a lien against Swizz and his estranged wife Mashonda for $842,644.52.  Source

I really hope he’s got something saved away and pays up ASAP.  The IRS is not one to be messed with.

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While Michael Vick sits in jail for his dog fighting crimes his finances are crumbling to pieces.  A bankruptcy judge will hold a hearing to appoint a trustee over his estate.  “It has become clear since the filing of this case that Mr. Vick has very limited knowledge of the state of his finances. … It appears that Mr. Vick has routinely relied upon others to make financial decisions for him, giving them discretionary control over large sums of money,” Bankruptcy Judge Frank Santoro wrote in his order on Wednesday. When Vick filed for bankruptcy in early July he wished to have David Talbot serve as his financial advisor but Mr. Talbot was charged with securities fraud in
New Jersey last Friday so he won’t be up for the job. SourceLordie, when it rains it pours.  Not that what he did was right or that he doesn’t deserved to be punished for it but his life is doing a serious spiral.  When he does finally make it out here won’t be anything left for him.  

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Michael Vick filed for bankruptcy last Monday (July 7, 2008).  He owes about $12.8 million to creditors including a $3.75 million signing bonus that the Atlanta Falcons are trying to recover. Since Vick is in prison and not earning money from football due to his indefinite suspension he has no means to pay off the debt. Source

This guy really can’t catch a break.