Federal Employees Owe $3 Billion in Unpaid Taxes

Washington DC - Maybe their tax payments got lost in the mail. The U.S. Postal Service turns out to have more tax delinquents in its ranks than any other federal agency or department, according to the Internal Revenue Service. IRS statistics from 2008 detailing the amount of money federal workers failed to pay the government in taxes showed postal service employees owed $297.93 million ? nearly 10 percent of the $3.04 billion owed by federal employees and retirees from dozens of agencies. The tax gap among federal workers comes at a time when the federal government is running record deficits and trying to raise the $12 trillion debt limit so that it can continue spending at record levels next year.---...More

House passes $850 Billion bailout bill!

We could start another war with 850 Billion dollars, Look out Pakistan and Iran!
The U.S. House of Representatives approved an $850 billion bank and mortgage bailout plan Friday that has the federal government buying up bad mortgages from hurting lenders with the aim of unfreezing credit markets.


The measure passed Friday with more support from House Republicans than Monday when the bailout failed. The U.S. House Monday defeated a bailout-only plan forwarded by President Bush and U.S. Treasury Secretary Henry Paulson.

The bill, which passed the U.S. Senate Wednesday, has also been loaded up with $150 billion in tax breaks, extended tax credits and expands Federal Deposit Insurance Corp. account insurance to $250,000 from $100,000.

Tax breaks include new and extended credits for solar and other renewable energies, electric cars, energy-efficient dishwashers, clothes washers and other appliances, idling reduction technologies for trucks and tax credits for commuters who bike to work.

Wall Street and business groups, including chambers of commerce in Arizona, pushed for the bailout. They were afraid that a banking and credit collapse would sink the U.S. into a severe recession.


Share It, Post It, Email it!

Funny Comedians----Pics For Myspace----Stupid News