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Posts Tagged ‘Taxes’

Obama’s Tax Evaders of the Year

Posted by FactReal on January 2, 2013

Via Michelle Malkin:

President Obama will kick off the new year the same way that he kicked off the old year: by demanding that the wealthy pay their “fair share” in taxes. But while millions of small business owners, struggling entrepreneurs, inventors, and investors brace for a double whammy of fiscal cliff tax hikes and new Obamacare taxes, the class warrior-in-chief’s richest pals are getting a pass.

It’s a Golden Pass for liberal millionaires and billionaires who support higher Obama taxes for everyone but themselves. Meet the Democratic tax evaders of the year.

— Google
— The Washington Post
— Costco
— Facebook
— George Lucas
— Andre “Dr. Dre” Young

Details here.

Costco, a Big Obama Donor, to Pay Fat Dividends to Beat Obama’s Tax Increase…
Biden’s Costco Visit – A Publicity Stunt as Payback to Big Democrat Donor
Obama’s 2012 Campaign is Collecting Your Online Activities


Posted in Economy/ Finance, Left, Obama | Tagged: , , , , , , , , , , | Leave a Comment »

Obama’s IRS Urged Employees to Ignore Fraud from Immigrants

Posted by FactReal on August 9, 2012

The Washington Times reported yesterday:

IRS supervisors ignored employees who tried to warn agency higher-ups of fraud in a program designed to collect taxes from immigrants, resulting in the agency paying out potentially bogus refunds, according to an official audit released Wednesday.

The Treasury’s inspector general for tax administration (TIGTA) said the IRS is too focused on getting out refunds quickly rather than getting them only to qualified taxpayers. Auditors also said the agency eliminated some methods employees had used to figure out questionable refund requests and doesn’t have the right training or tools to screen out bogus identity documents when immigrants apply for taxpayer numbers.

“TIGTA found an environment which discourages employees from detecting fraudulent applications,” said J. Russell George, the inspector general.

In the wake of the finding, one congressman called on the IRS commissioner to resign.

IRS pays out $6.8 billion in refunds to taxpayers who file using Individual Taxpayer Identification Numbers (ITINs). They generally are immigrants, here both legally and illegally. The potential amount of fraud was not stated, but the investigators detailed seven schemes that paid out $9 million in tax refunds in 2011. […]

The auditors took a closer look at fraud after being prompted by senators, who said they had heard complaints from IRS employees that their warnings were being ignored.

Mr. George confirmed that, saying IRS supervisors were urging employees to turn their backs on potential fraud from identity theft.

…[I]nvestigators said the IRS issued 23,994 refunds to one address in Atlanta, totaling $46 million in refunds.

And one single bank account was issued 8,393 refunds totaling $236,747, while another account was issued 2,706 refunds totaled $7.3 million in 2011.

Posted in Economy/ Finance, Government Waste, Immigration | Tagged: , , , , , | Leave a Comment »

Americans Earning over $50,000 a Year Paid 93.3% of all Taxes in 2010

Posted by FactReal on April 19, 2012

Highlights of the CNSNews report:
  • According to statistics compiled from the IRS by the Tax Foundation, those people making above $50,000 had an effective tax rate of 14.1%, and carried 93.3% of the total tax burden.
  • In contrast, Americans making less than $50,000 had an effective tax rate of 3.5% and their total share of the tax burden was just 6.7%.
  • In 2010, only 85 million actually paid taxes.
  • The Tax Foundation data also shows that people who didn’t pay any income tax received $105 billion in refundable tax credits from the IRS.

Posted in Economy/ Finance | Tagged: , , , , , , | Leave a Comment »

IRS: Paying Taxes Is Pathway to Citizenship for Illegal Aliens

Posted by FactReal on April 9, 2012

We now know illegal aliens have been filing tax returns to get tax credits from the IRS. Many times, these tax credits exceed what little taxes they had paid. Illegal aliens do not file tax returns because they suddenly care about the U.S. laws…laws they broke when they entered this country illegally and when they decided to work without proper authorization, etc., etc.

Now, government officials want to give them citizenship for “paying taxes”? Stupid is as stupid does.

(Click image for video)

CNSNews reported:

Internal Revenue Service Commissioner Douglas Shulman said Thursday that paying taxes is a pathway to citizenship for illegal aliens.

At the National Press Club in Washington, D.C., 12 days  before this year’s tax-filing deadline (Apr. 17), Shulman was asked about what his  agency is doing to collect taxes from illegal aliens.

“You know, it’s a great question,” he said. “One of the pathways to  citizenship that people believe is a good one is–even if you’re not  in this country legally–to pay taxes.”

Illegal aliens file tax returns to get tax credits from IRS:

According to a Treasury Inspector General audit,
Individuals Who Are Not Authorized to Work in the United States Were Paid $4.2 Billion in Refundable Credits. […]

Although the law prohibits aliens residing without authorization in the United States from receiving most Federal public benefits, an increasing number of these individuals are filing tax returns claiming the Additional Child Tax Credit (ACTC), a refundable tax credit intended for working families. The payment of Federal funds through this tax benefit appears to provide an additional incentive for aliens to enter, reside, and work in the United States without authorization, which contradicts Federal law and policy to remove such incentives.

This is how we are losing our country.

Posted in Economy/ Finance, Immigration, Law | Tagged: , , , , , | 1 Comment »

Occupy Wall Street Protester Wants College Paid For Because That’s What He Wants (Video)

Posted by FactReal on October 12, 2011

This is what kids are being taught at school. No facts. No intellectual curiosity.
Via Charles C. W. Cooke:
The Rich Pay More Taxes…and Higher Tax Rates

Posted in Education/ Indoctrination, Left | Tagged: , , , , , , | Leave a Comment »

CBO GRAPH: The Rich Pay More Taxes…and Higher Tax Rates

Posted by FactReal on September 27, 2011

FACT: The Higher Your Income, the Greater Your Federal Tax Rate
The American Thinker debunks the lies perpetuated by the Left that “the rich pay lower tax rates” or that “the Bush’s tax cuts only benefited the rich.”
  These lies are rebutted by a single graph produced by the Congressional Budget Office, below:
  The taxes included in this chart are for all federal taxes, not just income taxes.  Each quintile is one fifth of taxpayers, based on income.  The top quintile is the one with the highest incomes.

From just this one graph, several observations can be drawn.

  • The most obvious observation is that the higher your income, the greater your federal tax rate is. Taxpayers in the top quintile paid about 25% of their income in federal taxes, while those in the bottom quintile paid about 5% in 2007.
  • The rate for the top quintile has been very steady for the last thirty years: about 25%. In fact, the rate since the Bush cuts went into full effect (2003-07) was about the same as twenty years before (1983-87).
  • The same cannot be said for the lower quintiles; they have trended downward, especially since the Bush cuts in 2003. For the lowest quintile in particular, the rate has drifted downward since 1984, from about 10% of income to about 4%. That is a cut in the tax rate of about 60% for the lowest quintile, versus no cut in rate for the top quintile.
  • Changes in these rates cannot be explained by changes in income. The rate is taxes paid divided by income. If your taxes went up only because your income went up, then your rate would not change.
  • Reagan’s tax cuts became fully effective in 1983. But look at the trend in average tax rate for the highest quintile of earners after that. It went up. That upward trend on the richest Americans went up for seventeen years after Reagan’s tax cuts.
  • The same cannot be said for the lower quintiles. Tax rates for the lower 80% of taxpayers remained virtually flat, or trended downward, from 1983 to 2000.
  • A cut on the capital gains tax rate became effective in 1997. Do you see any kind of accompanying dip in the average tax rate for the highest quintile in that year or shortly after? Nope. The rate is pretty flat from 1993 to 2000.
  • The Bush tax cuts did cut tax rates — for all income groups. The cut was about 2%-3% of income for all quintiles. But since the lower income groups were paying lower rates in the first place, the constant cut across income groups meant that tax rates were cut proportionally more for lower income groups. For example: the top quintile was cut from about 27% to about 24%, which is a cut in the rate of 11%. But the bottom quintile was cut from about 7% to about 4%, a cut in the rate of over 40%.
 Read entire article.

Posted in Economy/ Finance | Tagged: , , , , , | 1 Comment »