Posted on 10/28/2009 7:46:48 AM PDT by SeekAndFind
Edited on 10/28/2009 7:49:04 AM PDT by Admin Moderator. [history]
Back in the winter when Congress was debating whether stimulus programs could get money into the economy quickly enough to make a difference, supporters of government efforts to prime the pump argued that tax credits would offer Americans a quick financial shot in the arm. After all, what else does government need to do to process a tax credit except take in applications, verify their accuracy, and then ship the money out the door?
(Excerpt) Read more at realclearmarkets.com ...
When the IRS cannot clean their own house before trying to tell the rest of us what we need to do or pay, they better start getting worried. Just imagine if people all across America were so outraged by the conduct of the IRS and their employees that they stopped paying taxes en masse and instead starting to chant “Taxation without representation is tyranny!” Maybe we need to dump some more tea in Boston harbor again.
Past time we did.
I wonder if any dead people got money this time?
Somebody go and apply for the environmental impact statement!
I find myself in an odd position of advocacy here. I’m not in favor of ripping off the government or anyone else for that matter. But I also simply cannot blame people for trying. Because the culture of corruption stemming from corrupt lenders, appraisers, ratings agencies, the top tier banks and the FDIC-seized banks showing 20-30-40%+ losses based on the non-disclosure of tier capital losses, ALL of which is ultimately taken out of the apparently infinite pool of the taxpayer’s hide has blossomed to an unimaginable extent.
There simply are no cops. There is no enforcement of any financial regulation whatsoever. The system has been overwhelmed by massive fraud at every level and for a year or more, and the odds have been proven to greatly favor deliberate fraud. Over and over. The system very clearly punishes savers by reducing rates to zero. It punishes timely mortgage borrowers by trashing the value of their neighborhood comps. Credit card companies, having been given the blessing of zero-interest money from the Fed turn around and jack rates to 29.9% on their timely borrowers. None of the Federal-level architects of this financial debacle, from Hank Paulson to Tim Geither to Larry Summers to Sheila Bair to Phil Gramm to Barney Frank to Frank Raines to Chris Dodd have experienced *ANY* legal or even electoral consequences in their marching orders or mandates. There is no *or else* consequences in any of the Fed guidelines for bank tier capital or accounting regulations. Indeed, the entire “kick the can down the road” “don’t have to mark crap assets to market” game being played by banks is a Federally-sanctioned top-down fraud mechanism. Fraud is being sanctioned from the very top of the entire financial system. This will end in tears, that is a certainty.
I don’t recall much support for Ed and Elaine Brown.
I wonder how long before someone asks "Who's that?" *barf*
How can the IRS clean its own house? The boss is a tax-cheat; the chairman that writes tax laws is a cheat, etc. They are in the role of Sisyphus, rolling the boulder up the hill only for it to roll back down.
I agree that paying taxes is counter-productive. Perhaps tar and feathers would “encourage” a few of them to mend their ways.
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