Tag Archives: IRS tax forms

Sometimes Our Tax System Is A Joke

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Hillary Clinton has released her tax forms. The Daily Caller has the story.

This screen shot from The Daily Caller tells most of the story:

ClintonDonationsThere’s even more. The article reports:

Desert Classic Charities effectively returned that donation back into the Clinton orbit. Its 2015 tax filing shows that it contributed $700,000 to the Clinton Foundation for work on obesity programs. The group handed out $1.6 million in grants that whole year.

The Clintons’ effective federal tax rate was 34.2 percent, the Clinton campaign said in a press release. With state and local taxes amounting to nine percent of their income, they paid just over 43 percent of their income in taxes.

It remains to be seen if Clinton will face the same scrutiny for her in-house contributions as former Massachusetts Gov. Mitt Romney did when he ran on the GOP ticket in 2012.

What the Clintons did is a glaring example of why the tax code needs to be changed drastically. Otherwise, in the interest of fairness, all of us should be able to declare ourselves a charity, give about 8 percent of our income to actually help people, and declare the rest as tax deductible. This is obscene.

 

This Might Be A Good Place To Cut The Federal Budget

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Fox News reported yesterday that the illegal immigrants that President Obama has granted amnesty will be eligible for retroactive tax refunds.

The article reports:

Byron York explained on “America’s Newsroom” that illegal immigrants will be eligible for the Earned Income Tax Credit, which is actually a government grant of up to $5,000 to working families.

“Illegal immigrants affected by the president’s edict will not only be eligible for those tax credits going forward, but three years retroactively,” York said. “So they’ll be able to collect quite a bit of money from the treasury.”

York explained that the IRS has issued taxpayer identification numbers to people who are in the U.S. illegally, but working, so that they can pay taxes.

Illegal immigrants who filed taxes that way over the past three years can now go back and amend those previous tax forms to claim the Earned Income Tax Credit.

Unbelievable.