Posted on 04/17/2015 10:12:21 AM PDT by Theoria
Major contributors like the Koch brothers and Tom Steyer would get a break on gift taxes to secretive non-profit groups.
The House on Wednesday with little fanfare passed legislation that would protect major donors like the Koch brothers and Tom Steyer from having to pay gift taxes on huge donations to secret money political groups.
The legislation, which now heads to the Senate, is seen by fundraising operatives as removing one of the few remaining potential obstacles to unfettered big-money spending by nonprofit groups registered under a section of the Tax Code — 501(c) — that allows them to shield their donors’ identities.
Critics decry such groups as corrupting, but they have played an increasingly prominent role in recent elections, and they’re expected to spend huge sums in 2016.
And, while fundraising operatives say most donors do not pay taxes on their donations to so-called 501(c) groups, the law is somewhat ambiguous on whether gift taxes could be assessed. That’s left donors fearing that such gifts could bring scrutiny from the Internal Revenue Service — which, in fact, has launched probes of major groups’ donors in recent years to determine whether they improperly avoided paying gift taxes.
(Excerpt) Read more at politico.com ...
Let’s not mention large gifts from donors like Bloomberg or Soros...
Where’s the postman with the gyrocopter when ya need him?
Man, they’re not even being subtle about it anymore. The country is dead.
Priorities indeed. Harumph.
beyond disgusted
So, they can bash the right, audit conservatives, and protect their Leftist sugardaddies.
I got it now...
LOL!!
Upside down. I am constantly reminded that as a personal donor I CANNOT take a tax deduction for a political contribution.
WHY SHOULD THESE OUTFITS and INDIVIDUAL CROOKS GET TO ???
unions, corps, groups, associations, are deemed more important than the individual, and have more ‘rights’.
Why should they be subtle? We won’t do anything about it. Hell, we cheer it on.
The lesser of two evils, is still evil.
This is something all should oppose. conservative, libertarian, or liberal.
Call your Senators to tell them to vote against the bill.
Them that has, gets.
What else can be said other than the fed gov is completely out of control, for sale, and operates against the little guy, enriching itself, its courtisans and its power. The Constitution has failed. It has been corrupted by the corrupt for more than 200 years, but especially in the last 100 years.
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