Illegals Could Collect as Much as $7 Billion in Refundable Credits

Wednesday, August 22nd, 2012 and is filed under Immigration, News, Taxes

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Earlier this year, we reported on an IRS Inspector General study that found that illegals collected $4.2 billion from the refundable child tax credit in 2010.  Senator Jeff Sessions now estimates that the number will rise to $7 billion in 2012.  For some perspective, Obama’s much-hyped Buffett tax would only raise about $4.67 in revenue a year.  So by eliminating refundable tax credits for people who shouldn’t be in the country in the first place, we could save more money without raising taxes.