Losses from healthcare fraud are on a par with the total federal income tax gap – also much in the news lately as a possible source – if it could be closed – for funding the Biden deficits. Healthcare fraud is likely at least three times larger. tax revenue due to multinationals shifting profits to low-tax countries – a highly controversial practice and a target of the Biden tax plans – is estimated at anywhere from $40-120 Bn. The Savings and Loan Crisis of the early 1990’s: “The most significant bank collapse since the Great Depression… more than 1,000 of the nation’s savings and loans failed.The AIG Bailout – $180 Bn (fully repaid to the U.S government later, with a $23 Bn profit to taxpayers). ![]()
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