Issa's IRS "Investigation" Takes a Turn South for the GOP

[Sandy]

http://www.nbcnews.com/id/3036697/#52161422

Click the segment with Maryland Congressman Cummings.

Looks like the Republicans wrote the script before the facts even came out. Apparently there was good reason to target some of the groups that they did, and that simply led to a more thorough investigation. Looks like the whole thing was nothing more than IRS employees doing their job to protect the taxpayers from fraud.

[William Thornton]

Cummings predictable behavior aside, the scandal will roll on. Gonna be a good summer.

[Dave Roberts]

[KeithE]

.

And remember the IRS agents were doing an investigation of fraudalent 501(c)(4) which were supposedly for “social welfare” and explicitly ruled out political support. Probably 95% were primarily about politicking. The largest one was Karl Rove’s Crossroads GPS and it was established to .

The money has grown dramatically since 2006 ($20M in 2006 and $330M in 2012). In 2012, more than 80% of it was for conservative causes. And since Citizen’s United, corporations (in all likelihood requesting favorably subsides and loopholes) are probably the money source (can’t prove it because the donors are hidden).



In short, we’ve been bought and our tax revenues from corporations have been reduced.



Let’s see that reduction in corporate taxes from 2.8% of GDP (=$14T) in 2006 = $392B to 1.8% of GDP (~$15T) in 2012 - $270B totals $122B. That is a pretty good ROI on $330M. The Return on Investment was 37000% (that’s right 379X).

[Sandy]