Read Biden's lips: More new taxes WashTimesOpEd
The federal government receives record amounts of revenue but spends and borrows in ways that add to the astronomical and unsustainable $31 trillion debt. As The Wall Street Journal noted in an editorial, “The Internal Revenue Service recently released its income and tax statistics for 2020, and they show the top 1 percent of earners paid 42.3 percent of the country’s income taxes … a two-decade high in the share of taxes the 1 percent pay.
Let’s start with improper payments made by federal agencies. According to reporting by the Washington Examiner, such payments totaled $175 billion in 2019 alone, as calculated by the government website PaymentAccuracy.gov. That’s $15 billion per month. This amount doesn’t include the $2.25 trillion in taxpayer and borrowed money spent on improper payments, including millions sent to dead people. Auditors for OpenTheBooks.
They came into their riches, the network reported, “by participating in what experts say is the theft of as much as $80 billion — or about 10 percent — of the $800 billion handed out in … the PPP. That’s on top of the $90 billion to $400 billion believed to have been stolen from the $900 billion COVID unemployment relief program — at least half taken by international fraudsters. … And another $80 billion potentially pilfered from a separate COVID disaster relief program.
The Hill newspaper reported a few of many examples of fraud that should outrage members of Congress and might if they weren’t spending other people’s money. It cites eight people in Georgia who allegedly stole $30 million by filing unemployment claims for 5,000 people. Four people in Texas allegedly swindled $18 million in PPP loans and were trying to steal $17 million more.
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