Posted on 05/26/2011 7:31:53 AM PDT by Sub-Driver
Audit Report: Obama Administration Handed Out $24 Billion in Stimulus Money to Tax Cheats Wednesday, May 25, 2011 By Fred Lucas
(CNSNews.com) - Lawmakers from both parties are calling for a fix to prevent tax cheating companies from getting federal contracts in light of a government investigation that found $24 billion in stimulus act funds went to companies owing $757 million in unpaid taxes.
“Average Americans are likely wondering why we gave such a huge amount of federal money to tax cheats when our national debt is more than $14 trillion,” Sen. Tom Coburn (R-Okla.) said in a statement. “That $24 billion went to such people looks like we are rewarding people for potentially criminal behavior.”
The report by the Government Accountability Office on money from the $800 billion American Recovery and Reinvestment Act going to tax delinquent firms did not name any specific companies, but it gave general examples of firms with delinquent taxes receiving tax dollars.
One example was a construction company that owed $700,000 in back taxes getting $1 million in stimulus contracts. In another example, a security firm with $9 million in unpaid taxes got $100,000 in stimulus funds. A technical services company got $100,000 in stimulus funds despite owing $4 million in taxes, was also found to own $4 million in real estate and earned hundreds of thousands of dollars in adjusted gross income in a recent tax return.
(Excerpt) Read more at cnsnews.com ...
This is why many people don’t agree with Ryan’s plan for cutting Medicare/SS for old people - when stuff like this keeps going on.
SO what are you going to do about it, TOM? Everyday we read about more scammers ripping off the system with the aid of elected officials. Why are they not facing trials and punishment?
The government is essentially telling everyone to put on their looter hats and grab what they can!
There are many uninformed Americans who are not aware of this kind of crap!
Will the liberals in the MSM investigate the practices of the Obama administration in this area?
Ya, Joe Biden was supposed to keep tabs on Porkulus spending.
Obama said that “nobody messes with Joe”, and for that reason, Joe was the man for the job.
Remember, unemployment would never rise above 8% if we passed Porkulus. We had to pass Porkulus as an emergency measure, no time to discuss or debate, to stop the spike in unemployment.
Unemployment rose anyway, but the MSM doesn’t focus on the unemployment rate anymore. Instead, they talk about jobs saved, jobs created, or jobs related to Porkulus spending.
Can we expect to see something done about this..... or are most of the thieves nothing more than Obama voting Holder’s people?
$24 billion?
That’s about 5 new nuclear power plants worth of grift.
Shame on whoever was to oversee this process!
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