Saturday, September 1, 2007
Gov't Not So Tax Exempt Anymore
In an interesting story of biting the hand that feeds you, the government has decided to go after ... itself for unpaid taxes. So, it becomes clear to all of us, that the government is not the world's largest tax exempt entity, but rather is a good tax paying citizen, much like the rest of us.
A number of federal entities have been failing to withhold taxes from individuals, and all of these little failures have resulted in a staggering tax deficit for the United States. All in all, the current deficit for failure to properly withhold taxes by federal agencies totals greater than $45 Million. Amazingly, this amount is still paltry compared to the more than $6 billion that is not properly withheld from corporations in the United States.