"Report: Tax dodgers pocketed $24B+" in "stimulus" monies
Thousands of companies that collected more than $24 billion in stimulus money from the federal government owe hundreds of millions of dollars in back taxes, a federal investigation has found.
At least 3,700 contractors and nonprofit groups that took in stimulus funds are tax deadbeats, the Government Accountability Office said in a report conducted for the Senate Permanent Subcommittee on Investigations ahead of a Tuesday hearing.
In all, the companies owed at least $757 million at the end of fiscal 2009, the GAO found.
The number of companies and the total dollar amount owed may be even greater, since the GAO probe examined only three-quarters of the 80,000 groups that received stimulus funds. In all, $275 billion in stimulus money is intended to go to grants and contracts. Of that, $200 billion had been paid out by late March.
“It is a matter of basic fairness that those who take government money should be required to pay their taxes like everyone else,” said Sen. Tom Coburn (R-Okla.), the subcommittee’s ranking member. “That such a huge amount of the stimulus money went to known tax cheats should be a wake-up call for Congress.”
So, to recap: Obama used the “stimulus” as a giant Democrat/progressive slush fund; re-directed tax monies to companies supportive of the Democrats; allowed those companies and “non-profits” to get healthy — and still many haven’t paid back taxes; meaning that, in the final analysis, the stimulus was, in effect, a fraud, a specific redistribution program designed to protect public sector jobs, public sector unions, and Democrat cronies — though sold as a way to stimulate general economic growth and combat unemployment.
Only 13 of the 3700 non-profits and contractors will be further investigated.
And I suspect the SEIU or ACORN won’t be among those