JAY Z 'S CUBA STATE OF MIND

Rapper Jay Z took his first bitch aka Mrs. Carter to Cuba for a holiday   education trip with the blessing of the leftist Whitehouse    Treasury Department. Of course this trip was never discussed with Obama even though Jay Z and Beyonce are frequent guests at the White House. Yeah right.  Time for Remy to tell it like it is:

Hey Obama here's an onshore tax loophole you can plug!

While it may be commendable that President Obama is going after the offshore tax loopholes. Even though it may cripple some silicon valley firms. Well I guess after the banking industry and the car makers what other industries are there left to cripple? Meanwhile, the Obama administration has ignored tax programs like the Earned Income Tax Credit program right here in the U.S. that has a fraud rate approaching 30%.



Here is the money (literally billions) quote from a Treasury Department audit report on another program that tells that illegal immigrants are gaming the system and also picking up child tax credit money from U.S. taxpayers. Again billions of dollars worth of fraud!:



Outrageous! But, to get the full story that is not hidden in the bureaucratic speak of the Treasury audit report. You should read this analysis by Edwin S. Rubenstein called The Earned Income Tax Creditand Illegal Immigration
A Study in Fraud, Abuse, and Liberal Activism. Here are some of the money quotes from it:

"But enthusiasm for the credit has blinded policy makers to its problems. The EITC program is dominated by fraud. Year after year about one-third of all EITC returns are based on illegal multiple returns, phony Social Security numbers, or claims of non-existent children or spouses. A disproportionate share of illegal alien households receive the benefit.

President Obama’s stimulus program includes tax cuts for low-income workers. The purpose, of course, is to put money back into taxpayers’ hands so they will spend it and boost the economy. But thanks to the EITC, much of the “tax relief” will go to people who have never paid a cent of tax—and may have already defrauded the government of huge sums each year.

As you know, the improper payments made in the Earned Income Tax Credit make up the second largest portion of government-wide improper payments for fiscal year 2005, estimating $9.6 to $11.4 billion dollars paid improperly.In fiscal year 2004, EITC had an improper payment rate of 25 percent. For fiscal year 2005, it was 28 percent and this is on the low side, because it’s just an estimate."

On the low side because this is "just an estimate"? How does that make you feel my fellow U.S. taxpayers! File these reports of illegals reaping refunds of U.S. tax dollars in the Hola suckers file.

Dem taxes?

From today's Washington Post:

"Former Dallas mayor Ron Kirk, who is President Obama's nominee to be the U.S. trade representative, failed to pay almost $10,000 in taxes during the past three years because of a series of mistakes, the Senate Finance Committee said yesterday."

Let's see Congressman Charlie Rangel, Tom Daschle, and our "Treasury" Secretary Tim Geithner. It seems the Republicans may be right after all. The Democrats don't mind raising taxes because they never pay them! Between the trillion dollars of the Stimulus Bill, Bank Bailouts, and the Foreclosure Follies. Is it too much to ask of Obama's appointees to pay their taxes? I and many other taxpayers do.

The TARP plan was always a turd

I guess the good news for us hard working middle class U.S. taxpayers who pay our bills and debts is that Henry Paulson and the Treasury Department are no longer going to be buying the sub prime crap loans under the Toxic Asset Reduction Program. Which in my book should have been called TURD loans because that is what they are. The idea of using our good tax dollars to buy crap loans from the banks who gave them out does not sit well with this and many other taxpayers. I think Hockeymike 374 speaks for many of us taxpayers:


"How can people be so stupid. Does anyone in congress understand that if you reward irresponsible behavior you will get more of it? I feel like an idiot for paying my bills and living within my means. I would say write your representatives but the last time we did that we were punished by making a 700B dollar bill an 850B dollar bill. This is beyond outrageous. The worst part is this will do nothing to solve the problem. NO more bailouts for corporations or the greedy and irresponsible people who bought homes they could never afford."

Sounds like good advice.