Obama’s Amnesty Paves Way For Increased Illegal Immigrant Tax Benefits Fraud

Obama Opens Fraud-Ridden Benefits Programs To Illegal Immigrants

 

 

 

 

” President Obama’s unilateral executive action on immigration will make hundreds of thousands, perhaps more than a million, illegal immigrants eligible for federal transfer payments. That will be done primarily through two widely used programs — the Earned Income Tax Credit, or EITC, and the Additional Child Tax Credit, or ACTC.

  As it turns out, those two programs are already among the most corrupt and fraud-ridden in the entire federal government. A newly-released report from the inspector general of the Internal Revenue Service confirms that the EITC is plagued by fraud (which was already well known) and also reveals for the first time that the ACTC is even worse.

  The two programs, intended for low-income workers, are what is known as refundable tax credits. That means they give workers a tax refund that is larger than their tax liability. So a family with a tax bill of $1,000 might receive an EITC “refund” of $5,000, meaning the family doesn’t write a check to the government but rather receives a check from the government. The ACTC works similarly for low-income workers with children.”

 

Thanks to Byron York at the Washington Examiner

 

 

 

 

 

 

 

 

 

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Bernie Madoff Was An Amateur

“One of the Biggest and Most Elaborate Falsehoods Ever Sold to the American Pubic” (The Bank Bailouts)

 

 

 

” One thing, which I wish Taibbi had emphasized more is that it looks increasingly like credit would not have “seized up” across the board, for very long anyway had the big banks been allowed to fail. The mid-sized banks and the community banks, which lacked exposure to much in the way of toxic assets (because they sold them off to the big banks which then folded them into Mortgage Backed Securities) would have survived. It would have been bumpy but well run banks just outside of big bank status, BB&T for instance, would have filled in the space.

The bailout was, as David Stockman says, a Wall Street crisis. The bankers all freaked out when their bets turned terrible, and then played the information leverage game with Washington to get the tax payers to pay for their mistakes. They basically said that the entire economy was going down (it wasn’t) and therefore an unprecedented abandonment of what was left of our market based economy was justified. It was a giant con. ”

 

 

Illustration By Mike Keefe

 

Related articles

• Taibbi reveals the lies (snohomishobserver.com)
• Matt Taibbi really, really hates the bailout (seldo.tumblr.com)
• Taibbi: Secret and Lies of the Bailout (jessescrossroadscafe.blogspot.com)
• The Government Lied When It Said It Only Bailed Out Healthy Banks … 12 of the 13 Big Banks Were Going Bust (washingtonsblog.com)
• What Chutzpah! AIG Wants to Sue the Govt After Taking $25 Billion from Them — Taibbi Shreds Wall St. Lies (alternet.org)
• Matt Taibbi on the Biggest Wall Street Scandal of 2012 (sgtreport.com)
• Secrets and Lies of the Bailout (blacklistednews.com)

Does Any Of Our Money Get Spent Responsibly ?

Department of Homeland Pork

 

 

 

 

 “A grant program administered by the Department of Homeland Security has morphed from a fund designed to fight terror into a pork-barrel program that pads local governments’ budgets, according to a report to be released Wednesday by Sen. Tom Coburn (R., Okla.).

The report, titled “Safety at Any Price: Assessing the Impact of Homeland Security Spending in U.S. Cities,” focuses on Homeland Security’s Urban Area Security Initiative (UASI).

“Since 2003, DHS has spent $35 billion on grant programs that were intended to make Americans safer from terrorist attacks,” a spokesman for Sen. Coburn wrote in an email. “But DHS failed to establish goals or metrics to ensure that funds were used to make Americans safe and cannot say how much safer we are today after spending $35 billion.” “

Related articles

• Zombie Apocalypse Singled Out In Tom Coburn Report On Homeland Security Waste (huffingtonpost.com)
• 10 Years of the Department of Homeland Security (triecker.wordpress.com)
• Homeland Security spent $430M on radios its employees don’t know how to use (arstechnica.com)
• Homeland Security is building a $4 billion 170-acre complex for 17,000 employees (a4cgr.wordpress.com)
• Domestic Spying Continued (youviewedblog.wordpress.com)
• 3 Reasons to Kill The Dept. of Homeland Security: It’s Unnecessary, Inefficient, & Expensive. (xrepublic.tv)
• Here’s What It Looks Like When You’re Entered Into A Department Of Homeland Security Data Fusion Center (businessinsider.com)
• Homeland Security Has Spent $430 Million on Radios Its Employees Don’t Know How to Use (propublica.org)

“Insight: GM’s Volt…

…The ugly math of low sales, high costs”

  “Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts.

Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.

And while the loss per vehicle will shrink as more are built and sold, GM is still years away from making money on the Volt, which will soon face new competitors from Ford, Honda and others.”

GOP Criticizes GSA Spending on Empty Buildings

Clemens Gets His Justice

  The New York Sun has a fine editorial today on why we should all rejoice at the repudiation of the 5 year , multi-million dollar waste of taxpayer funds that was the Roger Clemens witchhunt .
    It’s always nice to see the Justice Dept receive a black eye but it is especially sweet today given the politicization of Holder’s JD .

” The acquittal yesterday of Roger Clemens of all charges that he had lied to Congress and tried to obstruct an investigation into whether he used steroids is a moment to savor for those who maintain a decent respect for the Constitution. It’s just not every day that an ordinary citizen throws a no-hitter in the courtroom against batters as powerful as the combined might of the Congress and the Department of Justice. The government’s five-years-long pursuit of the great hurler was ended by a jury in just a few hours. The prosecutors, according to the Associated Press, slinked away from the courthouse without comment, and the Justice Department put out a statement claiming, “we respect the judicial process.”