HERE'S REASON #137265 WHY AN ACROSS THE BOARD TAX CUT WOULD'VE BEEN BETTER THAN THE PORKULUS

VIA GLENN:

IRS Cannot Verify Taxpayer Eligibility for 2/3 of $325 Billion of Stimulus Tax Benefits

The Treasury Inspector General for Tax Administration today released Evaluation of the Internal Revenue Service’s Capability to Ensure Proper Use of Recovery Act Funds (2010-41-011):

The Treasury Inspector General for Tax Administration today publicly released its review of the IRS’s ability to verify taxpayer eligibility for tax benefits and credits provided by the American Recovery and Reinvestment Act of 2009.

The Recovery Act contains 56 tax provisions with a potential cost of more than $325 billion that are intended to provide tax relief for individuals and businesses. These include 20 provisions for individuals that provide tax relief to working or retired Americans and their families. Thirty-six additional provisions provide tax relief and incentives for businesses, including provisions that encourage investment in sources of renewable energy and promote the hiring of unemployed veterans. They also allow for the sale of bonds to provide for construction, financing, environmental and manufacturing improvements.

TIGTA found that the IRS is unable to verify taxpayer eligibility for the majority of Recovery Act tax benefits and credits at the time a tax return is processed. This includes 13 of the 20 benefits and credits for individual taxpayers and 26 of the tax provisions benefiting businesses.

AN ACROSS THE BOARD TAX CUT WOULD'VE STIMULATED THE ECONOMY AND ALLOWED FOR NO FRAUD OR ERRORS.

EVERYONE WOULD'VE JUST KEPT MORE OF THEIR OWN MONEY.

IT WOULD'VE ENRICHED EVERYONE.

BUT NOT EMPOWERED POLITICIANS AND BUREAUCRATS.