Remember that New Home Buyer Federal Tax Credit?

[William J. Decker]

Remember, a couple of years ago, when Congress allowed people to take a $7,500 tax credit if they bought a new home? Then the extended it and upped the deduction to $8,000.

And, remember when the current administration hired many new IRS agents, seemingly to "enforce" more tax paying compliance.

Well, look what happened.

http://finance.townhall.com/columnis...housing_credit

62, 500 people FALSELY claiming the tax credit, or which some 100 were actual IRS agents!

Government, ain't it wonderful

[Joseph Hagarty, CMI]

No surprise....
http://money.cnn.com/2010/06/23/real...raud/index.htm

NEW YORK (CNNMoney.com) -- More than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released Wednesday......

[John E. Mullarkey]

Mr. Decker,
I admire your expertise and knowledge, please tell me that you were not surprised.

[William J. Decker]

I am not. There are very few things that the Federal government does well, or even passibly compitent. I just love it when they pass a law, but do not include any means of enforcement.

Go figure.