How to save billions from the government's budget.

[RandomVariable]

They are the U.S. Government Accountability Office (GAO) and it is what they do. Unfortunately they can not force the government to save money, only recommend that it does.

[ame=http://youtu.be/SJc45f1LqNA]GAO: Comptroller General Testifies to U.S. House on Government Efficiency and Effectiveness - YouTube[/ame]

 

[Mr. H.]

A private company recently found more than 200,000 people in Illinois who should not be enrolled in Medicaid. They were far from finished in their investigation.

What did the state do?

They pulled them off the job.

Despite ?staggering? success, Illinois drops Medicaid fraud finder « Watchdog.org

 

[RandomVariable]

A private company recently found more than 200,000 people in Illinois who should not be enrolled in Medicaid. They were far from finished in their investigation.

What did the state do?

They pulled them off the job.

Despite ?staggering? success, Illinois drops Medicaid fraud finder « Watchdog.org

That there is billions of waste in Medicare I have no doubt. It was clearly mentioned in the GAO testimony. The problem with dealing with Medicare fraud is that it is the Democrat's base. Now before anyone gets all excited the corporate giveaways are the Republican's base. Personally I say forget what the founding fathers or the Constitution says, let the CBO and GAO run the country for awhile. I believe the amount of government handouts are much less than the amount of corporate giveaways. The American public may not be able define corruption but they know it when they see it. That is why the Democrat's ratings are better than the Republican's and they both are in the tank. Some here ask, why vote at all? I believe one has to vote for the better of the two and hope the other catches up. The problem with a corrupt government is it only gets worse. Each tries to beat the other by increasing and energizing their base. Even things in the middle get hit. On the unemployment insurance benefits both sides thought it was a good idea but the Republicans wanted a payfor. They wanted the Democrats to give up a little of their base and the Democrats said if the Republican's wanted to talk about cutting into each other's base that is for another time. Actually no time is a good time to cut into one's base. Now immigration reform is looking dead because Mr. Cruz wants it dead for some reason, perhaps something to do the newly approved $17.2 trillion debt ceiling but more likely it is about energizing the base. And don't get me started about Presidents. I mean one can obviously say that starting a full scale war(s) in the Middle East is much worse than having a secret war in Mexico although if that erodes in to a full scale civil war we are going to be right in the middle of that thing. Anyway, that is why I am a patriot and a proud Democrat and why this libtard fights them righties to a standstill. Go team!

 

[Mr. H.]

An example of a "corporate giveaway" would be....

 

[RandomVariable]

An example of a "corporate giveaway" would be....

If you can't think of any on your own I am certainly not going to be any help.

 

[Mr. H.]

An example of a "corporate giveaway" would be....

If you can't think of any on your own I am certainly not going to be any help.

I can think of Intangible Drilling Costs and Percentage Depletion.

Now can you tell me if these constitute corporate welfare? Why? Why not?

These tax provisions are certainly under attack by Obama and his administration as "subsidies". Are subsidies corporate welfare?

 

[RandomVariable]

An example of a "corporate giveaway" would be....

If you can't think of any on your own I am certainly not going to be any help.

I can think of Intangible Drilling Costs and Percentage Depletion.

Now can you tell me if these constitute corporate welfare? Why? Why not?

These tax provisions are certainly under attack by Obama and his administration as "subsidies". Are subsidies corporate welfare?

"Are subsidies corporate welfare?" Well, yes and no. Welfare is to support those who need the extra benefit. Subsidies are to influence a person or industry to behave in a certain manner. In that way they are different. They are the same in that both deplete the overall funds of the government. They are also the same in that they are both policy decisions. Fraud is different from either of those because it is not a policy decision. When the funds specified for welfare recipients goes to those who do not qualify then that is fraud. When companies are requesting and receiving funds under false pretenses that is also fraud.

To the specific item: Intangible Drilling Costs and Percentage Depletion.

It is classified as a subsidy but if it is something the company would do regardless of the tax deduction then that is not really a subsidy. In that case it is more of a welfare to the company than a subsidy. If the tax was either created or implemented under false pretenses then that is fraud.

TPC Tax Topics | 2013 Budget - Eliminate Fossil Fuel Tax Preferences

The federal income tax includes a number of tax preferences that encourage investment in exploration, development, and extraction of fuels from domestic oil and gas wells and coal mines.
...
... But current law allows independent producers to deduct immediately intangible drilling costs (IDCs) for investments in domestic oil and gas wells. (Integrated producers may deduct 70 percent of IDCs and amortize the remaining 30 percent over five years.) Businesses may also deduct exploration and development costs of surface stripping and the construction of shafts and tunnels for other fuel minerals. Expensing of exploration and development costs will cost $3.0 billion between 2012 and 2017.

 

[f252863]

A reduction in taxes is not a subsidy or a giveaway.

 

[JaneTurner]

According to a Commerce Department report Monday, consumers spent more in September. That means customer confidence is up, even as the savings rate of consumers disappeared for the 3rd month consecutively. Read more at: Consumer Spending rises in September ~ personalmoneynetwork.com

 

[Crystalclear]

The debt could be paid by destroying bonds held by the Federal Reserve.