AMERICA TIMES

Real Gross Domestic Product (1949 – 2012)

Posted in Economy by americatimes on February 13, 2013
Click here for the historical record of the Real Gross Domestic Product (GDP) as provided by the Bureau of Economic Analysis (BEA), an agency of the Department of Commerce.

Source:
*http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=1&isuri=1
(First select ‘Section 1.’ and then ‘Table 1.1.6.)

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IRS gives illegal immigrants $4.2 billion in tax credits

Posted in Economy by americatimes on May 11, 2012
Gov’t Audit: Illegal Immigrants Received $4.2 Billion in Tax Credits Last Year
http://www.theblaze.com/stories/govt-audit-illegal-immigrants-received-4-2-billion-in-tax-credits-last-year/
The Blaze – September 2, 2011
By Madeleine Morgenstern

Illegal immigrants not authorized to work in the United States received $4.2 billion in tax credits from the IRS last year, almost quadruple the amount five years ago, a government audit found. [http://www.treasury.gov/tigta/auditreports/2011reports/201141061fr.html]

The Treasury Inspector General for Tax Administration (TIGTA) found an increasing number of illegals are claiming a refundable tax credit meant for working families when they file their taxes. Those who claim the credit either reduce what they owe or receive refunds.

According to TIGTA, which independently oversees the IRS, this essentially provides a huge incentive for illegals to come, live and work in the U.S.:

Many individuals who are not authorized to work in the United States, and thus not eligible to obtain a Social Security Number (SSN) for employment, earn income in the United States. The Internal Revenue Service (IRS) provides such individuals with an Individual Taxpayer Identification Number (ITIN) to facilitate their filing of tax returns. Although the law prohibits aliens residing without authorization in the United States from receiving most Federal public benefits, an increasing number of these individuals are filing tax returns claiming the Additional Child Tax Credit (ACTC), a refundable tax credit intended for working families. The payment of Federal funds through this tax benefit appears to provide an additional incentive for aliens to enter, reside, and work in the United States without authorization, which contradicts Federal law and policy to remove such incentives.

The $4.2 billion amount is a dramatic increase from $924 million in 2005. According to the audit, 72 percent of people who used a taxpayer identification number to file taxes last year claimed the child tax credit, up from 51 percent in 2005. Comparatively, just 14 percent of those who filed regular tax returns last year claimed the credit.

According to the Washington Post [below], the explosion in claims is due in part to tax law changes that reduced the number of children required to claim the credit. Additionally, the American Recovery and Reinvestment Act of 2009 also made the refund easier to get.

Undocumented workers got billions from IRS in tax credits, audit finds
http://www.washingtonpost.com/blogs/federal-eye/post/undocumented-workers-got-billions-from-irs-in-tax-credits-audit-finds/2011/03/23/gIQAhtaKvJ_blog.html?wprss=federal-eye
The WashingtonPost – 09/02/2011
By Lisa Rein

The Internal Revenue Service allowed undocumented workers to collect $4.2 billion in refundable tax credits last year, a new audit says, almost quadruple the sum five years ago.
[Link to Audit: http://www.treasury.gov/tigta/auditreports/2011reports/201141061fr.html%5D

(…)

Sen. Orrin Hatch (R-Utah), ranking member of the Senate Finance Committee … said in a statement.. “With our debt standing at over $14.5 trillion and counting, it’s outrageous that the IRS is handing out refundable tax credits…to those who aren’t even eligible to work in this country.”

Wage earners who do not have Social Security numbers and are not authorized to work in the United States can use what the IRS calls individual taxpayer identification numbers. Often these result in fraudulent claims on tax returns, auditors found.

Their data showed that 72 percent of returns filed with taxpayer identification numbers claimed the child tax credit.

(…)

Changes to tax law are partly to blame for the explosion in refunds for additional child tax credits in recent years, auditors found. Before 2001, filers needed to have three or more children to qualify — and to owe more Social Security taxes than earned income credits.

But those requirements have been eliminated and the allowable refund for each child doubled. The American Recovery and Reinvestment Act of 2009 also made the refund easier to get, auditors found.

Sources:
Treasury Inspector: Individuals Who Are Not Authorized to Work in the United States Were Paid $4.2 Billion in Refundable Credits
By Treasury Inspector General for Tax Administration (TIGTA) report of July 7, 2011: (Reference Number: 2011-41-061)

http://www.treasury.gov/tigta/auditreports/2011reports/201141061fr.html

Illegal Aliens Get Billions in Tax Credits from IRS
http://finance.townhall.com/columnists/mikeshedlock/2011/09/05/illegal_aliens_get_billions_in_tax_credits_from_irs/page/full/

Illegals received $4 billion in tax credits from IRS last year
http://www.americanthinker.com/blog/2011/09/illegals_received_4_billion_in_tax_credits_from_irs_last_year.html

Illegal Aliens Receive $4.2 Billion in Additional Child Tax Credits
http://www.redstate.com/dhorowitz3/2011/09/02/illegal-aliens-receive-4-2-billion-in-additional-child-tax-credits/

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New Broward Superintendent Contract

Posted in Economy, Florida by americatimes on October 5, 2011

Contract (PDF)

Miami Herald
Posted on Tue, Oct. 04, 2011
By Laura Figueroa

Broward’s incoming superintendent will earn $275,000 under a contract approved Tuesday by the county School Board.

The three-year deal extended to Robert Runcie will not include some perks that were initially written into the contract like a $500 monthly allowance for expenses and a $900 car stipend. Board members raised concerns about the public perception of the benefits during a period of financial hardship.

(…)

The first draft of Runcie’s contract would have paid him $268,000, but the car and monthly allowance would have added $16,800, for a compensation package totaling $284,000.

The position was advertised as paying “around $275,000”, so board members opted to give Runcie the maximum advertised and eliminate the extras.

He will have access to a district vehicle, just as Miami-Dade Schools provides for Superintendent Alberto Carvalho.

Runcie, a former chief of staff to the Chicago Board of Education, was chosen for the job in September from more than 40 applicants. In Chicago, Runcie earned close to $180,000.

Broward will pay $20,000 toward his moving expenses.

Runcie, who ran a technology consulting firm before joining Chicago’s school district, will also have the right to work as a private consultant, but must do so on his “non-duty” time like vacation or holidays. He must provide the board with notification about any such work.

He will also have 24 paid vacation days and health insurance coverage for his wife and teenage daughter. (…)

The contract also capped the amount Runcie could be paid if terminated without cause to one year’s salary. If he is terminated in the final year of his three-year contract, the district will only pay the remainder of time left on his contract.

….In a memo to board members, he indicated wanting to add two new positions to the district’s administration – a chief of staff and director of performance management.

Source: ●http://www.miamiherald.com/2011/10/04/2437927/broward-school-board-mulling-superintendents.html