Apr 14, 2014
Congress gave the green light to the IRS to collect debts from people by taking their tax refunds.
But not just any debts – these are debts more than 10 years old and do not necessarily belong to the people being forced to pay them! The Treasury has already collected 424 million dollars, and expects to grab another 714 million dollars on old debts. That’s more than a billion dollars.
One woman’s supposed debt was from her late father, from 40 years ago; another person supposedly owed $189 for a debt from his mother who died 33 years ago. And these outrages are imposed even though Social Security officials cannot provide any documentation on these debts.
Is this the Treasury Department of a poor third world country holding up its citizens? No, it’s the Treasury Department of a very rich country holding up its poorer citizens.
Why? So it can turn over more money to corporate America. For example, a deal is being finalized between Graham Holdings (formerly The Washington Post Company) and Berkshire Hathaway (owned mainly by Warren Buffett) to exchange assets worth more than a billion dollars each. For this big deal, neither company will pay any of the normal federal and state taxes – about 675 million dollars for Graham and Berkshire Hathaway together.
A fine tax holiday for the biggest of the big, paid for by taxpayers whose income is low enough that they qualify for tax refunds!