Govt. understates foreign aid costs by 400%

The Government’s calculations concerning the costs associated with foreign aid are understated by 400%. Previously, Foreign aid cost the American Taxpayer approximately 1% of our budget. However, since the present administration took office, this amount has steadily increased and is rapidly approaching the 5% mark. But the reality of this unprecedented spending has not been adequately disclosed largely because the government does not adhere to generally accepted accounting principles. Moreover, the longstanding rule of thumb was that 10% of every dollar given in foreign aid was lost as a kind-of “sin tax” (think of it as realpolitik or the cost of doing business). But during the past 2 ½ years this amount has jumped to 50%. In other words, because of a severe lack of transparency and poor accountability, the taxpayer loses 50 cents of every dollar given. Astonishingly, our interactions with Muslim nations are even worse – ostensibly because Islamic law prohibits the charging of interest, we’re getting snookered with phantom fees and charges and old fashioned chicanery.

David Selig of Selig & Associates is an experienced Federal Tax Practitioner and Advocate. In prime of his practice, this 47 year old Marine Corps veteran and native New Yorker attributes his overwhelming record of success to a tenacious disposition and his innate ability to craft and advance well-reasoned arguments. Mr. Selig appears regularly on Fox News, Fox Business News, WPIX, Fox-5, Thom Hartmann’s Big Picture and hundreds of radio stations nationwide (including the Wall Street Journal).

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This release was published on openPR.