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1/4th Of Earned Income Payouts Were Fraudulent

From an unfazed Associated Press:

IRS paid at least $13B in improper tax credits

May 12, 2014

WASHINGTON (AP) — The Internal Revenue Service paid more than $13 billion in tax credits last year to people who may not have qualified, a government investigator said Tuesday. The Earned Income Tax Credits were supposed to go to low-income working families.

The agency’s inspector general issued a report Tuesday saying the improper payments were between $13.3 billion and $15.6 billion. That’s about a quarter of all EITC payments.

So one quarter of all ‘earned income’ payments were fraudulent. How wonderful. And the IRS is going to monitor Obama-Care. To make sure there is no fraud. No one getting taxpayer subsidies who shouldn’t.

"The IRS can and must do more to protect taxpayer dollars from waste, fraud and abuse," said J. Russell George, the Treasury inspector general for tax administration…

What is stopping them? The truth is the Obama administration is tickled pink to send out money like this. They think they are buying votes.

The Earned Income Tax Credit is one of the nation’s largest anti-poverty programs…

No it isn’t. It is simply another income redistribution scheme. Like practically every other Democrat program. Which is why nobody really cares about the rampant fraud.

Using IRS statistics, the inspector general’s report provided an estimated range of improper EITC payments from 2003 through 2013. The report says the IRS paid out at least $124.1 billion in improper payments during the period, and perhaps as much as $148.2 billion…

Which means that for the last ten years the ‘improper payments’ have averaged $15 billion a year. And still nothing has been done about it.

Still, $150 billion is a small price to pay if it will help buy the Democrats more elections. After all, it’s not their money.

This article was posted by Steve on Wednesday, May 14th, 2014. Comments are currently closed.

One Response to “1/4th Of Earned Income Payouts Were Fraudulent”

  1. GetBackJack says:

    … and the Pope wants to scold us for a more equitable distribution of wealth. Well, how about some of the billions flying around without consequence or managed purpose fly over into my accounts for a change?

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