Don't save, just gamble

The IRS noted that it is sending out 25% of EITC refunds that are bogus. How do they manage to accomplish it?  EITC is the refund that gives poor people, who make small money a big refund, much more than they paid in taxes.  So EITC recipients are 1040EZs with a couple small W2’s, right?  And then the employers have to file their forms to the IRS listing who got which W2, correct?  This is not rocket science.  So all the IRS has to do is have a computer check the math on the form and crosscheck the W2’s.  Bingo—an audited form and a correct refund.  Oh, one disqualifier.  No one who is in business can collect EITC.  That’s apparent from the tax form, however, as per the line “business income or loss”. But as the feckless, lazy girl once said, “Unh! This is hard!” the IRS claims they cannot get this done right.  Try not to think about  how they might handle your health insurance with Obamacare.  You know, the insurance with the cardiac riders and the knee surgery continuance and the high blood pressure medication?  The one with an 80/20 PPO and 50/50 non-provider clause.

The debt ceiling fight left Republicans without hope of ever winning public office again, according to the pundits.  Why the Dems will be gleefully calling the Republicans obstructionists and they will always win!  Hmm.  Seems to this writer that refusal to raise the debt ceiling is tantamount to telling Washington to live within their means.  Why didn’t we call it “Live within your means” instead of Shutdown.  It was hardly a shutdown.  It was just a 14% trim of federal services. (Just try not filing your taxes during said Shutdown and see if IRS is forgiving.)  But I now understand why the R’s got socked in the polls.  We were headed to Wichita to get some supplies and decided to drop in for the buffet at the Kansas Star Casino.  From where we parked, we had to walk through the casino to get to the dining room.  You know, through the valley of the blackjack tables and through the forest of the slots.  The two of us don’t gamble.  Lost enough money through legitimate business and gambling seems no amusement whatsoever.  But what I saw there explained to me why R’s lose the argument.  All the gamblers were old farts with white hair or none at all.  Aren’t they worried about security in their old age?  I wanted to ask one old duffer in a power chair, “Sir what will you spend the money on if you win? A power chair with more horsepower?” But before I could say anything, my Lady whispered, “This is Social Security at work.”  Indeed, they must have gotten their checks.  And anyone who dares suggest that the monthly allotment is in jeopardy is surely a Bad Guy! Get an entitlement and you don’t need to save or plan. If this is how the elderly act, how will the youth? We are doomed in the polls.

I don’t see the coming debt crisis as necessarily happening as a direct cause from something in America.  It is sufficient for a couple of big southern European countries to default to the point where the EU can’t bail them out.  The fright of bondholders will then spread around the world in a market panic.  In the end, it will be the countries without much national debt that will have low interest and be sitting pretty.  Those like USA and Japan who are like the PIIGS countries of Europe, will be hit hard, with high interest rates and economic meltdowns.  And then the same guys who cussed the R’s for obstructionism will be walking around in shock asking what happened and why does the government not have enough money to give them a nice check anymore.