Last night I was talking with my brother in law who is currently in a top 25 MBA program. He mentioned the rampant abuse of government help systems by a huge number of his co-students.
It's a full time program so they are not allowed to work during school. He said most everybody has a pretty healthy cash reserve, as in $20,000+ and they brag how a few times a year when the government checks on their liquid assets they will pull the money from the bank or transfer it into a parents account so they don't break the $3,000 requirement (or whatever it is) so they can qualify for food stamps and medicaid. One of the students wife was bragging at how they got $800 A MONTH in food stamps and are on medicaid. They have two kids, ages 3 and 5. The husband brags how he shifts around his $30,000 at the right time of the year to qualify for this government assistance. They live in a damn nice place and have two cars.
The wife brags that she can even buy alcohol with the food stamps and how $800 is way more than they would ever need but she couldn't give it back even if she wanted. She also said they have no incentive whatsoever to get off food stamps because there is no penalty to be on them and the reward for doing things the way they do is so great.
What's the deal? Is the IRS really so stupid as to not check the history of a bank account balance and only the "current" amount? Anybody know anything more about this or know of people who abuse the system similarly? And we wonder why the corruption is so great with many high executives and government offices, these guys have been pulling these schemes since their college days.
$800 in groceries would last my wife and I 4 months of eating like kings.
It's a full time program so they are not allowed to work during school. He said most everybody has a pretty healthy cash reserve, as in $20,000+ and they brag how a few times a year when the government checks on their liquid assets they will pull the money from the bank or transfer it into a parents account so they don't break the $3,000 requirement (or whatever it is) so they can qualify for food stamps and medicaid. One of the students wife was bragging at how they got $800 A MONTH in food stamps and are on medicaid. They have two kids, ages 3 and 5. The husband brags how he shifts around his $30,000 at the right time of the year to qualify for this government assistance. They live in a damn nice place and have two cars.
The wife brags that she can even buy alcohol with the food stamps and how $800 is way more than they would ever need but she couldn't give it back even if she wanted. She also said they have no incentive whatsoever to get off food stamps because there is no penalty to be on them and the reward for doing things the way they do is so great.
What's the deal? Is the IRS really so stupid as to not check the history of a bank account balance and only the "current" amount? Anybody know anything more about this or know of people who abuse the system similarly? And we wonder why the corruption is so great with many high executives and government offices, these guys have been pulling these schemes since their college days.
$800 in groceries would last my wife and I 4 months of eating like kings.
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