The recession has pummeled nearly every segment of American society. Even Hollywood superstars are not immune to the financial hardships that have burdened this nation.
Actor Chris Tucker has amassed an $11.5 million debt with the IRS and is currently facing foreclosure on a $6 million home he bought in 2007. According to reports, Tucker owes $4.4 million to SunTrust Bank for the property that had a $25,812. 50 monthly mortgage payment. The value of the home dropped to $1.6 million.
But Tucker found humor in his current predicament. During a recent stand-up comedy show at the Filmore Miami Beach in Miami, Tucker joked about owing the IRS: “That’s the last time I let Wesley Snipes help me out with my taxes.” Tucker added, “I was so bad with money that I bought two houses right next to each other and then ended up going door-to-door asking myself if I could borrow a cup of sugar.”
Although Tucker signed a two-picture deal in 2005 worth $40 million, his latest financial issue proves that frivolous spending can lead to disaster even for wealthy Americans. –amir shaw
