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If ever there were a reporter and a story made for one another, it's Lee Sheppard of Tax Analysts and the Sarah Palin wardrobe kurfuffle. Ms. Sheppard is known for a knowledge of tax that rivals her knowledge of handbags, and she now has issued her take on the story ($link). She ratifies the obvious -- that the clothes are taxable to the Governor if she keeps them -- and she offers some advice:
Palin should keep the clothes, take them into income, and donate them when she is no longer using them. Why? Because they will not depreciate in value upon later donation as much as the cases say, for two reasons. First, Palin, whether or not she becomes vice president, is a historical figure, and that adds value to clothes she wore. Second, thrift and resale shops are not the only outlet for her used designer clothes, and would be the least desirable outlet.
She also offers her fashion take:
But what about the fashion choices made by Palin and her handlers? Should readers want to look like that? Only when they are heading to the opera. The clothes are too dressy for the use to which they are being put, though if Palin becomes vice president, they would be suitable for the traditional vice presidential task of attending state funerals.Piece by piece, our fashionista assessment: Red jackets are fine on camera, good with dark hair, and red is the Republican color. Black suits are not good on camera, though Palin's handlers may have thought they give her gravitas. Tight skirts are appropriate only if one is campaigning for a new boyfriend. The only excuse for high heels is that Palin is short (her running mate is also short by historical standards). And our readers know what we think of flesh-colored hose. But Palin is an American, and Americans like figure-skater hose.
Ann Althouse has a more favorable assessment, with the pictures to prove it.
Lee Sheppard attended one of the sessions of the NYU Tax Institute that I attended last week, so we have to note her outfit - a sleek black fashion ninja look.

Lee Sheppard, Tax Reporter and Fashionista, in action.
She also wore a pair of flat heavy-looking black boots that struck my Midwestern eyes as incongruous. Yet you have to respect her "I know so much about fashion that I can wear these boots, and still squash you like a bug" vibe.
Related: The tax costs of public service - Palin edition
UPDATE: Kay Bell chimes in on the Sheppard piece.
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