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Lady Gaga’s “Poker Face” is no match for Senator Coburn’s Tax Decoder.
In a 312 page report, Senator Coburn exposes $900 billion of giveaways throughout the current tax code. Yes, you read that right. $900 billion.
Everything from people writing off their gambling losses, to celebrities profiting big time off their “charities,” all thanks to the many breaks and loopholes.
Take Lady Gaga for example. She has a charity called the Born This Way Foundation. According to the website… “The Foundation is dedicated to creating a safe community that helps connect young people with the skills and opportunities they need to build a kinder, braver world.”
So, in 2012, how much money did they raise in order to create those “safe communities”?
$2.6 million.
And how much of that $2.6 million did they actually give away towards that?
$5 thousand. Yes, you read that right. $5 thousand.
Ouch. Have fun explaining that to your “little monsters,” Lady Gaga. [Like 2.5+ M went to Mommas salary for running the charity?]
This doesn’t just show the hypocrisy that comes out of Hollywood, but also the urgent need to reevaluate our flawed tax code. As if the IRS scandal wasn’t bad enough, Coburn’s report should be something everybody (hopefully) can agree is a symptom of a big problem. Flat Tax, Fair Tax, and 9-9-9 are all replacement options worth looking into.
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