Posts Tagged ‘Dept of Treasury’
TRANSCRIPT OF THE VIDEO:
“We’re going to be gifted with a health care plan we are forced to purchase, and fined if we don’t, which purportedly covers at least 10 million new people without adding a single new doctor, but…….
- provides for 16,000 new IRS agents,
- written by a committee whose chairman says he doesn’t understand it,
- passed by a Congress that didn’t read it but exempted themselves from it, and
- signed by a President who smokes,
- with funding administered by a Treasury chief who didn’t pay his taxes,
- for which we will be taxed for 4 years before any benefits take effect
- by a government which has already bankrupted Social Security and Medicare,
- all to be overseen by a Surgeon General who is obese, and financed by a country that’s broke.
So what the **** could possibly go wrong?”
–SNIP– If Congress can constitutionally create a mandate for individuals to purchase healthcare, then Congress can create a mandate for individuals to purchase financial securities. Which — given the fiscal cliff that we are about to run off, and the reality that more and more sovereigns are dumping dollars and treasuries — could well be a useful weapon in keeping the Treasury’s borrowing costs low and the bread and circuses flowing.
Read more by John Aziz at azizonomics.com
If you tax refund doesn’t show up this year, you might want to blame your parents - even if they’ve been dead for decades!
So far this year, the Treasury Department has intercepted $1.9 billion in tax refunds - $75 million of which is on debts that are more than 10 years old. Some of the money is being collected from the children of the debtors.
Take the case of 58-year-old Mary Grice.
In 1960, when Grice was 4, her father died leaving her mother to raise five young children. Her mother received survivor benefits from Social Security until the the youngest child turned 18. Social Security claims that in 1977, it overpaid someone in the Grice family. It isn’t sure who.
This year, Grice got a letter saying that they were holding her responsible for the $2996 debt incurred under her father’s Social Security number - and seizing her tax refund to pay for it. The government says that its policy is to seek compensation from the oldest sibling and work down through the family until the debt is paid.
Read more by Jeff Wagner at jrn.com/wtmj/