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Why the GOP must be stopped
- Thread starter Mr. dB
- Start date
gotmilk
New member
Because he would be crushed in public for being a tax cheat. Everyone who actually paid attention to the tax rate issue knows he paid both state and federal taxes on the money he originally made.
The bitching surrounding Romney is about the current dividend tax rate and how the Dems want it raised to like 40%, the Repubs want it between 15% and no more than 20%.
Paying your past taxes and not releasing your past tax filings are two different issues.
I actually know more...You can set up all the trusts, offshore accounts you want but the only way you can avoid taxes is with cash transactions. In 2012, very very few people are getting away with not paying taxes. Singapore, Israel, Isle of Jersey, Switzerland, Caymans, Bahamas, and many other safe havens are turning over banking information. Try opening a Swiss account and most private bankers will no longer accept US citizens.
Me personally, I massively reduced my tax liability by taking all my companies, placing them in one holding company, and issuing myself an end of the year cash dividend. I pay myself $1 in annual salary and only have a dividend income tax to pay. But....I have my own non-profit, which I fund with donations after I pay myself a dividend.
My anger is not at the poor. It's at the people who could get off their asses but choose not to do so. My hometown is flooded with people who have nothing wrong with them, but the would rather live off Section 8 housing vouchers, food stamps, EBT cards, etc.
It pisses me off when I see some lazy ass buying cigs and beer, checking his messages on his Motorola Droid Razr Maxx, taking about how he played pool the other afternoon.
What was supposed to be a system to help aid people in need turned into a large system being abused by lazy fucking people. Now, the people who truly need help get lumped into a group fighting for the same money.
gotmilk
New member
Like this shit drives me fucking nuts.....
Tax cheats were given $1.4 billion in government-backed mortgage loans under President Obama’s economic stimulus, and the government doled out at least an additional $27 million in tax credits to delinquents who took the first-time-homebuyer tax break, according to a government audit released Wednesday.
Under government rules, delinquent taxpayers are supposed to be ineligible for the mortgage insurance program unless they have reached a repayment agreement with the Internal Revenue Service. But the Federal Housing Administration didn’t have the right controls to weed out bad applications, said the Government Accountability Office, Congress‘ chief investigative arm.
That meant FHA insured $1.4 billion in mortgages for 6,327 borrowers who collectively owed $77.6 million in unpaid taxes, or an average of more than $12,000 each.
The auditors said that as a category, the tax cheats had foreclosure rates up to three times as high as other borrowers, which meant the delinquent taxpayers exposed the government to even greater risks.
“In the name of ‘stimulus,’ the federal government gave mortgage insurance to thousands of people we knew were tax cheats and had a bad track record paying their debts,” said Sen. Tom Coburn, Oklahoma Republican, who joined a bipartisan group of other lawmakers to request the investigation. “The federal government needlessly put taxpayers on the line to help tax cheats buy homes. Congress needs to ensure that tax cheats are no longer allowed to take advantage of FHA programs.”
In addition to the mortgages, the auditors found that more than half of the tax-delinquent borrowers claimed the first-time-homebuyers’ credit, worth up to $8,000.
GAO said there is no prohibition against someone claiming the credit, even though they still have unpaid tax bills. The credit is refundable, meaning taxpayers can get a check back from the government if the benefit exceeds their liability. IRS rules generally call for the agency to subtract any unpaid taxes from the refund, but in three of the nine cases that GAO analyzed in depth, it said the taxpayers had declared bankruptcy, meaning the IRS was prevented from docking the refunds.
The report was the GAO’s second study looking at tax cheats and the stimulus.
In the first report, GAO said thousands of contracts and grants were paid out under the American Recovery and Reinvestment Act to those with unpaid tax bills.
Mr. Obama pushed the $831 billion economic stimulus in early 2009 as a means of bolstering the faltering economy, and promised to use strict controls to cut fraud and abuse. At its peak in mid-2010, it was responsible for as many as 3.6 million jobs, but could have funded as few as 700,000, according to the Congressional Budget Office.
Part of the Recovery Act was aimed at shoring up the housing market, which included the first-time-homebuyer tax credit and the mortgage assistance, which let the FHA insure loans at a higher rate in high-cost housing markets.
About 1.7 million individuals claimed the tax credit, while FHA insured more than $20 billion in mortgages for 87,000 homeowners, thanks to the Recovery Act provisions.
Under a White House policy, buyers who are delinquent on their federal taxes are not supposed to receive the mortgage assistance, unless they have worked out a repayment agreement with the IRS. But FHA rules don’t prod private lenders to ask for that information, and the FHA doesn’t have a system to work with the IRS to get that information.
Mr. Coburn joined Sens. Max Baucus, Montana Democrat; Carl Levin, Michigan Democrat; Chuck Grassley, Iowa Republican; and Orrin G. Hatch, Utah Republican, to request a review of the program.
“The stimulus-spending program was ill-conceived, with far too little oversight,” Mr. Grassley said. “It shouldn’t surprise anyone, unfortunately, that tax dollars have gone to tax cheats. It’s another one of many negative consequences of writing checks without enough checks and balances
Tax cheats were given $1.4 billion in government-backed mortgage loans under President Obama’s economic stimulus, and the government doled out at least an additional $27 million in tax credits to delinquents who took the first-time-homebuyer tax break, according to a government audit released Wednesday.
Under government rules, delinquent taxpayers are supposed to be ineligible for the mortgage insurance program unless they have reached a repayment agreement with the Internal Revenue Service. But the Federal Housing Administration didn’t have the right controls to weed out bad applications, said the Government Accountability Office, Congress‘ chief investigative arm.
That meant FHA insured $1.4 billion in mortgages for 6,327 borrowers who collectively owed $77.6 million in unpaid taxes, or an average of more than $12,000 each.
The auditors said that as a category, the tax cheats had foreclosure rates up to three times as high as other borrowers, which meant the delinquent taxpayers exposed the government to even greater risks.
“In the name of ‘stimulus,’ the federal government gave mortgage insurance to thousands of people we knew were tax cheats and had a bad track record paying their debts,” said Sen. Tom Coburn, Oklahoma Republican, who joined a bipartisan group of other lawmakers to request the investigation. “The federal government needlessly put taxpayers on the line to help tax cheats buy homes. Congress needs to ensure that tax cheats are no longer allowed to take advantage of FHA programs.”
In addition to the mortgages, the auditors found that more than half of the tax-delinquent borrowers claimed the first-time-homebuyers’ credit, worth up to $8,000.
GAO said there is no prohibition against someone claiming the credit, even though they still have unpaid tax bills. The credit is refundable, meaning taxpayers can get a check back from the government if the benefit exceeds their liability. IRS rules generally call for the agency to subtract any unpaid taxes from the refund, but in three of the nine cases that GAO analyzed in depth, it said the taxpayers had declared bankruptcy, meaning the IRS was prevented from docking the refunds.
The report was the GAO’s second study looking at tax cheats and the stimulus.
In the first report, GAO said thousands of contracts and grants were paid out under the American Recovery and Reinvestment Act to those with unpaid tax bills.
Mr. Obama pushed the $831 billion economic stimulus in early 2009 as a means of bolstering the faltering economy, and promised to use strict controls to cut fraud and abuse. At its peak in mid-2010, it was responsible for as many as 3.6 million jobs, but could have funded as few as 700,000, according to the Congressional Budget Office.
Part of the Recovery Act was aimed at shoring up the housing market, which included the first-time-homebuyer tax credit and the mortgage assistance, which let the FHA insure loans at a higher rate in high-cost housing markets.
About 1.7 million individuals claimed the tax credit, while FHA insured more than $20 billion in mortgages for 87,000 homeowners, thanks to the Recovery Act provisions.
Under a White House policy, buyers who are delinquent on their federal taxes are not supposed to receive the mortgage assistance, unless they have worked out a repayment agreement with the IRS. But FHA rules don’t prod private lenders to ask for that information, and the FHA doesn’t have a system to work with the IRS to get that information.
Mr. Coburn joined Sens. Max Baucus, Montana Democrat; Carl Levin, Michigan Democrat; Chuck Grassley, Iowa Republican; and Orrin G. Hatch, Utah Republican, to request a review of the program.
“The stimulus-spending program was ill-conceived, with far too little oversight,” Mr. Grassley said. “It shouldn’t surprise anyone, unfortunately, that tax dollars have gone to tax cheats. It’s another one of many negative consequences of writing checks without enough checks and balances
gotmilk
New member
Or this shit...
The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs -- annual operation and maintenance positions -- meaning that it cost about $9.8 million to establish each of those long-term jobs.
At the same time, those green energy projects also created, in the end, about 4,600 “indirect” jobs – positions indirectly supported by the annual operation and maintenance jobs -- which means they cost about $1.9 million each ($9 billion divided by 4,600).
Combined (910 + 4,600 = 5,510), the direct and indirect jobs cost, on average, about $1.63 million each to produce.
$9 Billion in ?Stimulus? for Solar, Wind Projects Made 910 Final Jobs -- $9.8 Million Per Job | CNSNews.com
The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs -- annual operation and maintenance positions -- meaning that it cost about $9.8 million to establish each of those long-term jobs.
At the same time, those green energy projects also created, in the end, about 4,600 “indirect” jobs – positions indirectly supported by the annual operation and maintenance jobs -- which means they cost about $1.9 million each ($9 billion divided by 4,600).
Combined (910 + 4,600 = 5,510), the direct and indirect jobs cost, on average, about $1.63 million each to produce.
$9 Billion in ?Stimulus? for Solar, Wind Projects Made 910 Final Jobs -- $9.8 Million Per Job | CNSNews.com
themondtster
New member
Just give me half of that 1.6 and ill be happy.
Sent from my PG86100 using EliteFitness
but we love it when somebody that looks like us gets over on the system.
http://www.elitefitness.com/forum/c...claimed-welfare-lived-1-2m-castle-820353.html
PICK3
New member
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