Category Archives: Tax

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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Complete text linked here.

Hillary amnesty tax: $15,000 per household

$1.29 trillion to finance infrastructure, school, welfare, other costs of illegals.

Amnesty for illegal immigrants like a program proposed by Democratic presidential candidate Hillary Rodham Clinton would require an immediate tax hike of $1.2 trillion, a $15,000 hit on every household in America, according to a new analysis of immigration reform.

The authoritative National Academy of Sciences said the cost to give some 11 million illegals citizenship rights would be staggering, though it suggested long-term benefits.

A Heritage Foundation analysis of the NAS study looked at just the impact amnesty would have and said that an immediate tax increase of $1.29 trillion would be needed to finance the infrastructure, school, welfare and other costs of illegals.

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October 31, 2016

Joke’s On You America: Obama’s Golf Trip with Tiger Woods Cost Taxpayers Nearly $4 MIllion

The specific schedule for Feb. 15, 2013, were that Obama flew from Joint Base Andrews in Maryland to Chicago to deliver remarks on the economy, He then flew to Palm Beach, Florida, for vacation, where he golfed with Woods before returning to Joint Base Andrews.

When it comes to taking advantage of the system, no one does it better than Barack Obama. And when it comes to golfing while on the job, Obama has completed more rounds than any person who has served in the White House in history.

And one of Obama’s most expensive rounds of golf came in 2013 with Tiger Woods, costing U.S. taxpayers nearly $3.6 million, according to a new report by the Government Accountability Office.

The costs accounted for operating expenses of Air Force One, supporting aircraft, and U.S. Coast Guard small boats, travel expenses, which include commercial airfare and rental cars for Defense Department and Department of Homeland Security personnel supporting the trip, according to the report.

Original source.

October 30, 2016

Grover Norquist: Clintons Guilty of Tax Fraud

Hillary has a history of ducking taxes, took deduction for donating Bill’s used underwear.

Democrat Hillary Clinton wants higher taxes, but in the past has gone to ridiculous — and likely fraudulent — lengths to lighten her own burden, influential anti-tax crusader Grover Norquist said Friday.

In an appearance on “The Laura Ingraham Show,” Norquist, the president of Americans for Tax Reform, pointed to a story from 1993 highlighting the fact that the Clintons had claimed a tax deduction for donating Bill Clinton’s used underwear to charity as far back as the 1980s.

The story got some attention at the time, but Norquist said a review of those tax returns turned up 10 pages of deductions that overvalued donated items by $1,300 to $1,500.

“Hillary Clinton has not paid the taxes she owes … This is tax fraud,” said Norquist. “People go to jail. They get massive fines for giving a car to charity and misrepresenting the value of the car.”

Norquist said the claimed deductions were “so far out of line with what” with what charities like the Salvation Army and Goodwill Industries estimate for the value of similar items.

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Complete text linked here.

October 20, 2016

242,772 Aliens With Final Removal Orders From Recalcitrant and Non-Cooperative Countries Remain In The United States

These refusals undermine American immigration law, cost U.S. taxpayers billions of dollars, and place American citizens at risk of criminal violence and fraud.

Background From The Subcommittee On Immigration And The National Interest: There are nearly one million aliens in the United States who have final orders of removal—nearly a quarter of whom are from countries that refuse to accept, or that delay the acceptance of, their nationals after they have been ordered removed from the United States. And they are being released into our communities every day.

According to data provided to the Senate Subcommittee on Immigration and the National Interest by U.S. Immigration and Customs Enforcement (ICE), as of June 25, 2016, there were 953,806 aliens in the United States with outstanding orders of removal, 182,761 of whom were convicted of crimes in the United States. Of the 953,806 aliens who have final orders of removal, 242,772 come from countries that refuse to take back their nationals after they receive final removal orders, with 123,098 coming from the 23 countries that ICE deems to be “recalcitrant,” and 119,674 from the 62 countries that ICE deems to be otherwise uncooperative. Of the 242,772, 57,029 were convicted of criminal offenses, or roughly 30 percent of the criminal aliens with removal orders in the United States—including 28,733 from Cuba, 7,705 from Vietnam, 2,140 from Haiti, and 1,848 from China.

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Complete text linked here.

October 5, 2016

Apple is named the biggest corporate tax avoider in the US after booking $218 BILLION of profit offshore last year

Tech giant was able to save $65.08 billion that it should have paid in tax. Report reveals top 30 tax avoiders based in America collectively operated a staggering 2,509 tax haven subsidiaries. Apple was the top with three foreign subsidiaries, all based in Ireland. In second was pharmaceutical giant Pfizer with 181 offshore subsidiaries. Report reveals that last year three quarters of the Fortune 500 companies use subsidiaries in offshore tax havens. In the US, this amounted to $715.62 billion in tax that they avoided paying.

Apple has been named as the biggest corporate tax avoider in the United States after booking $218.55 billion (£171.6 billion) of profit offshore last year.

The tech giant was able to save $65.08 billion (£51.1 billion) that it should have paid in tax thanks to its convoluted arrangements.

The report revealed that last year three quarters of the Fortune 500 companies use subsidiaries in offshore tax havens where they sent a total of $2.42 trillion (£1.9 trillion) of income.

In the US alone this amounted to $715.62 billion (£561.9 billion) in tax which they avoided paying.

The report of said many of the biggest companies in the world use a foreign office to ‘disguise’ their profits as coming from another country even if they are not.

It was published days after Apple announced that it is building a massive new campus in Battersea, South London.

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Complete text linked here.

September 12, 2016

Migrants Granted Refugee Status Are Holidaying In Countries They ‘Fled’, At Taxpayers’ Expense

Migrants with recognised refugee status are holidaying in the countries they supposedly “fled”, with their vacations funded by German taxpayers, a newspaper has found.

Newspaper Welt am Sonntag learnt that migrants are returning to countries such as Syria, Afghanistan, and Lebanon for holiday purposes, then travelling back to Germany where they continue to receive comfortable welfare payments.

The Federal Office for Migration and Refugees (BAMF) has been aware for some time that some recognised refugees are taking leisure trips to the very spots they claim their lives are in danger.

The government body sent a written request to Berlin’s employment agencies in June, asking that they report the travel arrangements of migrants granted asylum holidaying in their countries of origin.

A spokeswoman for the Federal Employment Agency confirmed that “there are such cases” but reports that there is “no analysis or statistics on this subject and therefore we do not have information”.

The lack of information is down to data protection laws. But people who are familiar with the processes report that it is also happening in other regions of Germany.

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Complete text linked here.

September 9, 2016

Why the NFL Loves Taxpayers (Video)

The NFL and Roger Goodell are rolling in billions of dollars while poor taxpayers can’t even afford to go to games inside the stadiums they helped fund.

September 1, 2016

Over 1 Million Social Security Numbers Stolen in the Last 5 Years (Video)

A new report found that IRS officials knew that more than 1 million Social Security numbers were stolen in the past five years, but the tax-collecting agency failed to notify the victims.