Category Archives: Tax

August 16, 2017

Trump-Endorsed Immigration Bill Would Save Taxpayers Trillions

Each legal immigrant w/ less than a H.S. degree costs taxpayers $476k. We’re subsidizing the rich’s “cheap labor.”

Earlier this month, President Donald Trump endorsed the RAISE (Reforming American Immigration for Strong Employment) Act introduced by Sens. Tom Cotton, R-Ark., and David Perdue, R-Ga., a bill to reform the merit-based immigration system and limit low-skill immigration.

Low-skill immigration is very costly to U.S. taxpayers. For example, a legal immigrant without a high school degree typically receives $4 in government benefits for every $1 he pays in taxes.

By limiting future low-skill immigration, the RAISE Act has the potential to save U.S. taxpayers trillions of dollars in future years.

There are 12.8 million low-skill legal immigrants with a high school degree or less currently residing in the U.S. The households headed by these low-skill legal immigrants impose a net fiscal cost (total government benefits received minus total taxes paid) of $150 billion each year.

The $150 billion tax burden is equivalent to a $1.04 tax on every gallon of gas purchased by U.S. motorists every year for the foreseeable future.

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May 29, 2017

Revealed: How Facebook chief, Sheryl Sandberg, lobbied Taoiseach Enda Kenny over data protection role and taxation

The correspondence took place in 2014 as Facebook was fighting two battles on two continents: one against the IRS in the US, which found Facebook’s Irish operations presented a possible $5bn tax liability; and the other against allegations Facebook Ireland handed users’ private data to US spies.

Facebook chief, Sheryl Sandberg, personally lobbied the Taoiseach at one-to-one meetings and in correspondence, on who would be appointed as Ireland’s next Data Protection Commissioner.

The social media giant is facing an investigation under the new Data Protection Commissioner, Helen Dixon, into allegations that Facebook used its Irish headquarters to transfer the data of millions of EU Facebook users to US spies under the Prism surveillance programme.

Given extraordinary access to the Taoiseach, Ms Sandberg lobbied Enda Kenny personally at meetings in Davos and California, and in subsequent correspondence, trying to influence his appointment of a successor to Billy Hawkes, who was due to retire from the role of Data Protection Commissioner.

Ms Sandberg doesn’t specifically name any preferences she has for potential successors in the documentation. She makes clear, however, that Facebook is interested in who the appointment will be, and that whoever is appointed is a ‘strong candidate’ as Mr Hawkes was a ‘hard act to follow’.

She says in the documentation that she hopes whoever is appointed to the position will be able to collaborate with Facebook and provide leadership on the data protection issue in Europe.

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May 25, 2017

Trump Budget Stops Cash Payments to Illegal Immigrants

IRS program has paid billions in federal dollars to aliens under the guise of a ‘tax credit’

The president’s proposed 2018 budget would put a stop to a government program that has paid out more than $35 billion over the past ten years to illegal immigrants in lump-sum payments, disguised as a “tax credit.”

The use of the credit by illegal immigrants, which has allowed them to get up to $1,000 for each child they claim, including children who are not theirs and who don’t live in the United States, has been referred to as “a multi-billion-dollar fraud scheme” that has taken money out of the hands of hard-working Americans.

It’s called the “Additional Child Tax Credit” — but in application it is not really a credit at all.

Thousands of illegal immigrants file tax returns every year using a taxpayer identification number issued by the IRS called an ITIN. Mark Krikorian of the Center for Immigration Studies says there is no reason for anyone but an illegal immigrant to use an ITIN to file a tax return: Even legal residents who are not citizens would have a Social Security card. And the only reason people working here illegally would file a return is to get money, through a “credit” that counts against the taxes paid, and then sends them the remaining amount.

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May 15, 2017

Virginia: 43 Muslims indicted in $30M cigarette trafficking, bank fraud, and money laundering op

Those businesses were used to purchase a large amount of tax-exempt cigarettes and then they would be transported out of state and resold for a profit.

43 people were indicted on Friday on 743 separate charges resulting from a year-long investigation into illegal cigarette trafficking, according to police.

19 of the 43 are in custody.

Henrico County Police said it began investigating cigarette trafficking in Henrico County back in 2015 because of a series of violent crimes that were associated with it.

According to police, a number of robberies, shootings, and burglaries happened in direct relation to the illegal trafficking of cigarettes and an investigation eventually developed into a larger regional and multi-state operation.

The investigation incorporated more than 20 agencies including local, state, and federal law enforcement as well as corporate businesses including the FBI, ATF, Homeland Security, IRS, and Virginia and Maryland State Police.

Police said the suspects utilized fraudulent papers to create 29 phony businesses in the Richmond area.

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May 8, 2017

Idiotic Seattle Mayor Taxes Diet Soda Because ‘Affluent White People Drink More Of It’

The idiotic mayor of Seattle, Ed Murray, has changed the rules of his “soda tax” to include diet soft drinks instead of only sugary soft drinks. The reason? Solely because wealthier white people drink more diet drinks.

Via The Seattle Times:

Mayor Ed Murray’s soda-tax legislation led to criticism it was unfair because white and affluent people tend to drink more diet drinks. The mayor’s revised proposal lowers the tax rate slightly and adds diet soda.

The changes were recommendations that emerged when staff from the mayor’s office and the office of Councilmember Tim Burgess studied disparate impacts the tax could have on people with low incomes and on people of color, according to Murray.

That work involved conversations with community advocates, public-health professionals and business owners, according to the mayor. After Murray’s initial announcement, some suggested the exclusion of beverages with artificial sweeteners would be unfair because affluent white people tend to consume more diet drinks.

The tax, which is meant to fund education for minorities (which is a hysterical and yet frightening thing to focus on), is undergoing some changes. At first, the tax was to make distributors of sugary drinks pay 2 cents per ounce with the mayor claiming it would bring in $16 million.

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April 15, 2017

California’s Tax Collection Agency Engulfed in Scandal

California Gov. Jerry Brown has asked the state Department of Justice to investigate alleged corruption at the state’s Board of Equalization, the agency that collects $60 billion in tax revenues in one of the highest-taxed states in the nation.

The Sacramento Bee reports:

In a letter sent to the board’s five elected members, The Democratic governor announced the tax agency will not be able to hire key personnel or issue most contracts without approval from other state departments he controls.

His letter also announced his intent to ask the Human Resources Department and Attorney General Xavier Becerra to investigate complaints from civil servants as well as an alleged misuse of public resources.

Brown’s letter follows a recent audit from the Department of Finance that found the Board of Equalization had allowed its elected members to “redirect” staff for promotional events. The audit found the agency could not explain how it corrected accounting failures identified in a 2015 audit.

It described reports from employees who feared they’d lose their jobs if they displeased elected officials. The report also suggested that board members inappropriately “intervened” in administrative decisions, creating inconsistencies that are “contrary to state law.”

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April 4, 2017

Illegal alien indicted for $12 million tax refund and voter fraud

According to the indictment, Williams had refund checks issued in the names of people from whom he stole IDs and had blank check stock and debit cards delivered to his residence.

A previously deported illegal alien from Nigeria living in Missouri was indicted Wednesday for a sophisticated stolen identity fraud scheme that sought more than $12 million in tax refunds.

In addition, he has also reportedly voted in two U.S. presidential elections.

Kevin Kunlay Williams, aka Kunlay Sodipo, a Nigerian citizen who is a resident of St. Louis, Missouri, was charged with mail fraud, aggravated identity theft, voter fraud, illegal reentry, and being a felon in possession of a firearm.

Williams and others allegedly used public school employees’ identifications stolen from a payroll company to electronically file more than 2,000 fraudulent federal income tax returns. Williams also allegedly stole electronic filing identification numbers (EFINs) to secure bank products that allowed him to print refund checks and instruct the IRS to forward refunds to prepaid debit cards.

According to the indictment, Williams had refund checks issued in the names of people from whom he stole IDs and had blank check stock and debit cards delivered to his residence.

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March 19, 2017

California Dems Promise Taxpayer Dollars to Defend Illegal Immigrants

Alameda County is going to spend as much as $750,000 to defend illegal immigrants facing the specter of deportation.

More than 2.3 million Illegal immigrants who are living in California, six percent of the state’s population, may not have to worry about paying a dime of legal expenses by the Fourth of July holiday weekend.

Because of fears of the Trump administration’s plans to deport criminals among the undocumented, several cities and counties in California have set up legal defense funds to pay the bills of illegal immigrants if they are arrested.

Similar legislation to set up a statewide defense fund is moving through the California Legislature with little opposition.

The Voice of OC reported the Santa Ana City Council instructed city staff to work with the ACLU and the UC Irvine School of Law to set up a program to pay the legal bills of illegal immigrants living in the city.

Councilman Vicente Sarmiento sponsored the proposal after immigrant activists told him they were worried about mass deportations.

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December 4, 2016

Report: Feds to Forgive At Least $108B in Student Loan Debt (Video)

The Government Accountability Office announced this week that at least $108 billion in student loan debt will be forgiven in the coming years. The move leaves taxpayers ultimately on the hook for the repayments in question.

“Government created a problem and now they’re making it worse,” Sabrina Schaeffer said.

The panel noted that President-elect Donald Trump may also forgive a portion of students’ debt.

Investments reporter Bill Baldwin suggest that, instead of having the government lend money to college students, the colleges themselves should take the financial chance on each student they admit.

Original source.

November 6, 2016

Clinton Foundation Head Accused Chelsea Of Using Funds For Wedding, Campaigning, And Avoiding Taxes

“I learned from the best,” Band wrote. “The investigation into her getting paid for campaigning, using foundation resources for her wedding and life for a decade, taxes on money from her parents….”

Doug Band, the former top aid to Bill Clinton who helped found the Clinton Global Initiative, accused Chelsea Clinton of illegal activities by using foundation money to pay for her wedding and getting paid to campaign, all while avoiding paying taxes.

After Chelsea had launched an investigation into the foundation’s finances under Band’s control, an angry Doug Band email Hillary Clinton’s campaign chairman John Podesta to complain. Band called Chelsea’s actions, “not smart.”

Podesta replied, “You are perfecting your skills for understatement.”

New emails released by Wikileaks show Band, still irate, replied with his own allegations of Chelsea Clinton’s corruption.

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