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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (711742)4/24/2013 4:51:10 PM
From: i-node2 Recommendations  Read Replies (2) of 1571058
 
Your government at work. $100B in free money over ten years handed out as gifts to people who don't meet the statutory requirements. The EITC provisions were, in the 80s, the most abused provision of the Internal Revenue Code. So, IRS took it over and said, "Never mind. We'll figure it ourselves, so we can do it correctly." Uh-huh.

"The IRS estimates that at least 21 percent of its EITC payments in 2012 were faulty. That rate showed a decline compared to the previous nine years, but improper payments over the same period increased about 22 percent, rising to at least $11.6 billion, according to the inspector general’s report."

washingtonpost.com
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