Wednesday, July 2, 2008

MC75- RECOGNIZING BULLSHIT

CAN YOU RECOGNIZE BULLSHIT WHEN YOU SEE AND HEAR IT?
Well I can, and I'll bet you can too. Here is the latest load of crap to be dumped on us by the Department of Finance... Story Here...
Inos: No second check for stimulus recipients
FIRST, the good news: U.S. stimulus checks don’t “bounce.”
These are not U.S. checks, these came from our own DOF.
NEXT: Variety was told that a supermarket that received $6,000 in U.S. stimulus checks from different taxpayers could not cash them in a bank due to “insufficient funds.” But Finance Secretary Eloy Inos said that’s “impossible” because more than a third of the funds provided by the U.S. Department of Treasury are still in the bank.
So the next question would seem to be is... Why is all that money still there? This was given by the U.S for the working class people to spend, therefore stimulating the local economy, thus the name 'Stimulus Rebates'. How will this economy be helped with these idiot sitting on over 1/3 of the funds?
“No way they bounced,” said Inos. He said the checks may not have been cleared due to other reasons but not because of “insufficient funds.” “There is what we call unusual endorsement like if a signature is missing. Sometimes the machine missed it (on the check) or the dates and the written amount and the figure are not the same,” he told Variety in an interview yesterday. “Or maybe the checks are (physically damaged). There are many other factors.”
Now lets see, $6,000 dollars at $300 each must be about twenty checks. So he is saying they messed up twenty checks that all went to the same store because of printing errors? Here is a point you should call 'bullshit' because I don't believe it and I'll bet you don't either.
The U.S. Department of Treasury turned over $16.1 million to the CNMI Department of Finance under the $152 billion federal Economic Stimulus Package Act of 2008. Of this figure, Inos said $6 million is still in the Bank of Guam and the U.S. Treasury will provide more funds if what was given to the CNMI is not enough. Most of the CNMI recipients got $300.
Why wouldn't they want to dump all that money into the local economy and ask for more, can't they even pass out free money right?
According to Inos, $300 is the minimum federal stimulus rebate and since most taxpayers in the CNMI private sector are minimum wage earners who are paid lower than their counterparts in the U.S., most of them got the minimum rebate amount.
So explain the amount the higher paid, government workers got paid, where is his explanation for that?
“If their tax liability is lower than $300, then they get $300. The minimum rebate is $300,” said Inos.
Now there's a line that isn't even bullshit, it's plain ignorant, I can't even fathom what it means. Do you understand this calculation?
“We have no intention of shortchanging anybody — we don’t discriminate. It’s about the tax system,” he said. “In a way this is a good exercise for us. These problems have never come up before. We’re just following the requirements of the (U.S. Internal Revenue System) so that next time around, we can implement this easily and smoothly,” he added.
Man oh man, it's been so long since they paid a tax rebate they forgot how. What does he mean by the "next time around"? He couldn't even give out all he got this time and he's getting ready for the next round? Watch for government sticky fingers!
Stupidity reigns at DOF!!!!!!!!!!
.....GED.....

11 comments:

Anonymous said...

They are making interest off the money. These fuckers are criminals. All of them! Ben Tan and Inos and Matt Gregory are Tan employees.

Put them all in jail.

glend558 said...

I can't believe all that money will go to where it was intended and not a large sum of it stick to the governments greedy fingers.

Lil' Hammerhead said...

The $300 doesn't seem right. I don't know that those guys are so stupid to mess around with federal funds like that.. at least not with funds that are that public. They'd know that this will get back to the feds and the IRS. I'd like to see a federal response regarding those $300 payments.

glend558 said...

The whole point is to throw money out to spend, therefore the 'stimulas' to the economy. These idiots can't even get that right. How can they blow money they don't have and can't even pass out free money? What a mess!

Anonymous said...

The real problem is with the three idiots and Tan mafiosos, Ben Tan Eloy Tan, and Matt Gregory Tan.

The Tan clan get richer but we get poorer.

Biba Tan Dynasty!

Anonymous said...

Oh man! All people hear are $600 and $1200; not that simple (but any reasoning falls on deaf ears). It does depend on your income bracket. People affected (or feel they are affected) really need to do their due diligence. Also, before money was transmitted, the feds had to reconcile/approve with/the figures provided CNMI. Surely we don't believe feds remit blank checks to their insular territories?

glend558 said...

Where are the IRS rules for dispersing these funds? Has anyone seen anything about how this dispersment works? I'll bet it's different then we are told. The rules should be made public!

Anonymous said...

For clarity please see below from the irs.gov website (I know it didn't answer your question re what governs the release of checks but still doing research on that)...

"Q. I received my stimulus payment, but it was less than what my friends and neighbors received. Why?

A. Your economic stimulus payment is based on information provided on your 2007 income tax return.

Many but not all taxpayers qualify for the maximum basic payment of $600 for singles or $1,200 for married couples. Many parents are also receiving an additional $300 for each qualifying child, born after Dec. 31, 1990.

Your payment may be less than the maximum for one or more of the following reasons:

You are single and your net income tax liability is less than $600. If you file Form 1040 net income tax liability is the amount shown on Line 57, plus the amount on Line 52.
You are married and your net income tax liability is less than $1,200.
You are single and your adjusted gross income (AGI) is more than $75,000. On Form 1040, AGI is the amount on Line 37.
You are married filing a joint return and your AGI is more than $150,000.
You owe back taxes that reduced your payment.
You have non-tax federal debts such as unpaid student loans or child-support obligations that reduced your payment.
Around the time you receive your payment, you will also receive a notice from the IRS explaining how your payment was calculated. It is important to keep this notice as a record of your economic stimulus payment. In addition, you’ll get a separate notice if you owe back taxes or non-tax debts that were offset or deducted from your stimulus payment.

The Economic Stimulus Payments FAQs section of this Web site has further details on how these payments are figured."

-als

glend558 said...

Thank You als. Do you have the URL address for the web site?
Anyway thanks again!

Lucie said...

Here you go:

http://www.irs.gov/newsroom/article/0,,id=182735,00.html

-(a)ls

glend558 said...

Thank You, Lucie. I got it.