Where is the Money Going?

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Millions Donated to Cancer Charities Paid for Online Dating, Caribbean Cruises, Hooters Meals and Victoria’s Secret Shopping

The FTC and attorneys general from all 50 states have accused the managers of four related cancer charities of spending millions of dollars in donations on themselves instead of helping cancer patients. Only 3% of the monies raised by the four charities went to help patients. The FTC and AGs have described the charitable operations as “sham charities” that “operated as personal fiefdoms characterized by rampant nepotism, flagrant conflicts of interest, and excessive insider compensation.”   read more

The $36 Million Marine Headquarters in Afghanistan that was never Used: Who Pocketed the Money?

The money never would have been spent had the Corps heeded the requests of then-Maj. Gen. Richard P. Mills, who said the headquarters wasn’t needed and that commanders could make do with other facilities. The building wasn’t even seen as something that would have been nice to have. “We certainly needed many things in those early days,” Marine Maj. Gen. Larry Nicholson said, “but we were very pleased with [current headquarters].” Neither Mills nor Nicholson got their way, however.   read more

Franchises Most Likely to Fail: Golf Etc. and All Tune and Lube

A report from Service Employees International Union shows that 19.3% of all franchises purchased with SBA loans from 2006 to 2010 have failed. That failure rate has increased over time; loans originating from 1991 to 1995 failed 12.7% of the time. Two franchises with the highest failure rates are Golf Etc., at 49.6%, and All Tune and Lube at 41.6%. Purchasers of those two franchises were almost even money to go down the tubes, costing the taxpayers thousands of dollars.   read more

Why is the Navy Allowed a Special Extra Fund Beyond its Budget to Build Submarines?

The Navy has decided the special fund created just to launch new subs now can be used to build new aircraft carriers, too. The Navy is already spending more money every year through its regular budget of $130 billion than either China or Russia does on their entire armed forces, according to POGO’s Jacob Marx. But the Navy wants to pay for its 12 new SSBN(X) ballistic missile subs outside regular funding channels.   read more

Record False Claims Settlement in a Case not Supported by Justice Dept.

Two whistleblowers who worked for DaVita renal clinics in Georgia accused DaVita of dumping renal care supplements down drains so it could overcharge Medicare and Medicaid. The judge said the company at least led the plaintiffs astray by not correcting the false testimony and at worst “purposely manipulated the evidence and witnesses to hide the truth from the (plaintiffs) and the court.” The whistleblowers will share in a quarter to a third of the $495 million settlement.   read more

Chris Christie Eats up his Taxpayer-Funded Expense Allowance…Literally

During his first two years as governor, Christie blew nearly $83,000 on food and beverages at MetLife Stadium, presumably to wine-and-dine friends and allies at NFL football games. But it’s unclear where a lot of Christie’s food allowance spending went because his office refused to disclose more details. “While Christie returns surplus funds to the state each year, Treasury officials say he does not submit receipts or accounting for the public monies he spends,” Mark Lagerkvist reported.   read more

Raising Money Outside their own State, Republicans go to Texas, Democrats to California; Both Like New York

There’s one thing Republican and Democratic candidates for office can agree on—a trip to New York can fatten a campaign war chest. During the 2014 election, Democrats raised $18.9 million from donors in New York City, while GOP politicians pulled in $11.8 million. Washington, D.C., was the next most generous source of money for members of both parties. From there, candidates go their separate ways. Democrats head to Los Angeles, while Republicans saddle up for Texas.   read more

Legal Marijuana Growers and Sellers Forced to Pay more Federal Taxes than other Industries

Pot operators find themselves paying as much as a 70% tax on their profits, compared to about 30% for “normal” businesses, because they can’t deduct things like rent, employee salaries or utility bills. One business that oversees the operation of five marijuana shops in Colorado cost owner Bruce Nassau $275,000 in taxes. Another marijuana dispensary owner, who brought in $1.7 million in revenue last year, got hit with a federal tax bill for $866,000.   read more

Postal Service Turns an Operational Profit for 6th Quarter in a Row…but Loses Money Anyway Due to Prefunding of Health Benefits

By most standards, the U.S. Postal Service (USPS) is doing pretty well, making a profit of $313 million in the second quarter of this fiscal year. But a congressional mandate to prefund employees’ health benefits is keeping the post office in the red. Congress in 2006 adopted the Postal Accountability and Enhancement Act which forced the USPS—which does not receive money from the federal budget—to prefund its health care benefit payments to retirees for the next 75 years.   read more

Defense Dept. Pays for Patriotic Displays at NFL Games

The Pentagon paid $5.4 million from 2011 to 2014 to NFL teams for various kinds of military appreciation programs. For example, the New York Jets, whose home field is actually in suburban New Jersey, received $377,000 from the Department of Defense and the New Jersey National Guard to put on military appreciation days highlighting “Hometown Heroes.”   read more

Hillary Clinton: Big Friend of Big Bankers

Clinton has spent decades, both in her own career and as First Lady during Bill Clinton’s presidency, forging strong relationships with financial industry executives. She has maintained these ties despite recent efforts to portray herself as a populist candidate. Of the six most generous donors to her political career, four are Wall Street firms: Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley. A fifth is DLA Piper, a law firm that represents big banks.   read more

Small Business Administration Uses Variety of Accounting Tricks to Give Contracts to Big Businesses

How did Lockheed Martin and other huge corporations such as Boeing and General Dynamics qualify for contracts set aside for businesses of that size? At least partly due to the misconception that a small business acquired by a giant corporation may keep its status for several years. That misconception starts at the top.   read more

Students Borrow Money to Attend College and some of the Money is Spent to Subsidize Athletic Dept.

An investigation of Ohio universities by an investigative reporting class at the University of Cincinnati found that many of their fellow students had no idea that a portion of their fees went to subsidizing college athletics. Academic spending per student dropped 24% at Cincinnati from 2005 to 2013. Meanwhile, the school is spending $86 million to renovate its football stadium.   read more

Pentagon Credit Cards Used for Escort Services and Casinos

The Pentagon inspector general’s office is about to release a report that some members of the armed services and civilian workers had charges made at casinos and at businesses offering escort services in Atlantic City and Las Vegas. A Pentagon official told Politico that it’s possible the department may not have paid the charges because those issued DoD credit cards pay their monthly bills and then request reimbursement.   read more

Treasury Inspector General Says 3.6 Million Americans Received Improper Education Tax Credits

Of the 3.6 million Americans who illegitimately got the credits, more than 2 million did so without filing the necessary supporting paperwork, a Form 1098-T. This group got more than $3.2 billion in education credits. Another $2.5 billion was paid to 1.6 million filers for students attending ineligible institutions.   read more

Congress Increases Grants for Abstinence-Only Programs

Urged on by socially conservative lawmakers, Congress has again poured more money into abstinence programs that operate under the belief that teenagers won’t have sex if you just tell them it’s a bad idea. Another $25 million was appropriated last month for Title V, a federal program started in the 1990s after Republicans won control of Congress.   read more
1 to 16 of about 1616 News
1 2 3 ... 101 Next

Where is the Money Going?

1 to 16 of about 1616 News
1 2 3 ... 101 Next

Millions Donated to Cancer Charities Paid for Online Dating, Caribbean Cruises, Hooters Meals and Victoria’s Secret Shopping

The FTC and attorneys general from all 50 states have accused the managers of four related cancer charities of spending millions of dollars in donations on themselves instead of helping cancer patients. Only 3% of the monies raised by the four charities went to help patients. The FTC and AGs have described the charitable operations as “sham charities” that “operated as personal fiefdoms characterized by rampant nepotism, flagrant conflicts of interest, and excessive insider compensation.”   read more

The $36 Million Marine Headquarters in Afghanistan that was never Used: Who Pocketed the Money?

The money never would have been spent had the Corps heeded the requests of then-Maj. Gen. Richard P. Mills, who said the headquarters wasn’t needed and that commanders could make do with other facilities. The building wasn’t even seen as something that would have been nice to have. “We certainly needed many things in those early days,” Marine Maj. Gen. Larry Nicholson said, “but we were very pleased with [current headquarters].” Neither Mills nor Nicholson got their way, however.   read more

Franchises Most Likely to Fail: Golf Etc. and All Tune and Lube

A report from Service Employees International Union shows that 19.3% of all franchises purchased with SBA loans from 2006 to 2010 have failed. That failure rate has increased over time; loans originating from 1991 to 1995 failed 12.7% of the time. Two franchises with the highest failure rates are Golf Etc., at 49.6%, and All Tune and Lube at 41.6%. Purchasers of those two franchises were almost even money to go down the tubes, costing the taxpayers thousands of dollars.   read more

Why is the Navy Allowed a Special Extra Fund Beyond its Budget to Build Submarines?

The Navy has decided the special fund created just to launch new subs now can be used to build new aircraft carriers, too. The Navy is already spending more money every year through its regular budget of $130 billion than either China or Russia does on their entire armed forces, according to POGO’s Jacob Marx. But the Navy wants to pay for its 12 new SSBN(X) ballistic missile subs outside regular funding channels.   read more

Record False Claims Settlement in a Case not Supported by Justice Dept.

Two whistleblowers who worked for DaVita renal clinics in Georgia accused DaVita of dumping renal care supplements down drains so it could overcharge Medicare and Medicaid. The judge said the company at least led the plaintiffs astray by not correcting the false testimony and at worst “purposely manipulated the evidence and witnesses to hide the truth from the (plaintiffs) and the court.” The whistleblowers will share in a quarter to a third of the $495 million settlement.   read more

Chris Christie Eats up his Taxpayer-Funded Expense Allowance…Literally

During his first two years as governor, Christie blew nearly $83,000 on food and beverages at MetLife Stadium, presumably to wine-and-dine friends and allies at NFL football games. But it’s unclear where a lot of Christie’s food allowance spending went because his office refused to disclose more details. “While Christie returns surplus funds to the state each year, Treasury officials say he does not submit receipts or accounting for the public monies he spends,” Mark Lagerkvist reported.   read more

Raising Money Outside their own State, Republicans go to Texas, Democrats to California; Both Like New York

There’s one thing Republican and Democratic candidates for office can agree on—a trip to New York can fatten a campaign war chest. During the 2014 election, Democrats raised $18.9 million from donors in New York City, while GOP politicians pulled in $11.8 million. Washington, D.C., was the next most generous source of money for members of both parties. From there, candidates go their separate ways. Democrats head to Los Angeles, while Republicans saddle up for Texas.   read more

Legal Marijuana Growers and Sellers Forced to Pay more Federal Taxes than other Industries

Pot operators find themselves paying as much as a 70% tax on their profits, compared to about 30% for “normal” businesses, because they can’t deduct things like rent, employee salaries or utility bills. One business that oversees the operation of five marijuana shops in Colorado cost owner Bruce Nassau $275,000 in taxes. Another marijuana dispensary owner, who brought in $1.7 million in revenue last year, got hit with a federal tax bill for $866,000.   read more

Postal Service Turns an Operational Profit for 6th Quarter in a Row…but Loses Money Anyway Due to Prefunding of Health Benefits

By most standards, the U.S. Postal Service (USPS) is doing pretty well, making a profit of $313 million in the second quarter of this fiscal year. But a congressional mandate to prefund employees’ health benefits is keeping the post office in the red. Congress in 2006 adopted the Postal Accountability and Enhancement Act which forced the USPS—which does not receive money from the federal budget—to prefund its health care benefit payments to retirees for the next 75 years.   read more

Defense Dept. Pays for Patriotic Displays at NFL Games

The Pentagon paid $5.4 million from 2011 to 2014 to NFL teams for various kinds of military appreciation programs. For example, the New York Jets, whose home field is actually in suburban New Jersey, received $377,000 from the Department of Defense and the New Jersey National Guard to put on military appreciation days highlighting “Hometown Heroes.”   read more

Hillary Clinton: Big Friend of Big Bankers

Clinton has spent decades, both in her own career and as First Lady during Bill Clinton’s presidency, forging strong relationships with financial industry executives. She has maintained these ties despite recent efforts to portray herself as a populist candidate. Of the six most generous donors to her political career, four are Wall Street firms: Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley. A fifth is DLA Piper, a law firm that represents big banks.   read more

Small Business Administration Uses Variety of Accounting Tricks to Give Contracts to Big Businesses

How did Lockheed Martin and other huge corporations such as Boeing and General Dynamics qualify for contracts set aside for businesses of that size? At least partly due to the misconception that a small business acquired by a giant corporation may keep its status for several years. That misconception starts at the top.   read more

Students Borrow Money to Attend College and some of the Money is Spent to Subsidize Athletic Dept.

An investigation of Ohio universities by an investigative reporting class at the University of Cincinnati found that many of their fellow students had no idea that a portion of their fees went to subsidizing college athletics. Academic spending per student dropped 24% at Cincinnati from 2005 to 2013. Meanwhile, the school is spending $86 million to renovate its football stadium.   read more

Pentagon Credit Cards Used for Escort Services and Casinos

The Pentagon inspector general’s office is about to release a report that some members of the armed services and civilian workers had charges made at casinos and at businesses offering escort services in Atlantic City and Las Vegas. A Pentagon official told Politico that it’s possible the department may not have paid the charges because those issued DoD credit cards pay their monthly bills and then request reimbursement.   read more

Treasury Inspector General Says 3.6 Million Americans Received Improper Education Tax Credits

Of the 3.6 million Americans who illegitimately got the credits, more than 2 million did so without filing the necessary supporting paperwork, a Form 1098-T. This group got more than $3.2 billion in education credits. Another $2.5 billion was paid to 1.6 million filers for students attending ineligible institutions.   read more

Congress Increases Grants for Abstinence-Only Programs

Urged on by socially conservative lawmakers, Congress has again poured more money into abstinence programs that operate under the belief that teenagers won’t have sex if you just tell them it’s a bad idea. Another $25 million was appropriated last month for Title V, a federal program started in the 1990s after Republicans won control of Congress.   read more
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