© Ted Rall
Yet another attack on Obama. Probably funded by the Koch brothers.
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6 Comments
The Koch article is truly truly frightening particularly after Karl Rove has establish a 501(c)4 to make Political contributions tax deductible. There is no way Rove can keep within the letter of the law but the IRS head is a Bush appointee and will turn a blind eye. Political contributions are not tax deductible, but Rove made them so. And the “4″ allows political contributions that will be tax deductible. Detestible.
EBDoug – contributions to a (c)4 are deductible now?
Starluna – As long as the primary purpose of the organization is NOT campaigning, 501 (c)4s may participate in political campaigns or even lobby for legislation.
Starluna, I have told the DNC, I’ve sent this to NY Times, etc. You are the first who have reacted to it. Unbelieveable. You see Rove’s group “does not campain” just produces those lying ads but now with no names on the ads, no one can get them. If you go to the IRS.gov and put in 501(c)4 you can read the stipulations. In other words, the Koch group can give all they want to Rove’s group and take it as a tax deduction.
If someone did a short writeup about the Rove 501(c)4 situation, with links, I would be happy to publish it here. This may not be the NY Times, but there are plenty of people there who do read this blog.
I don’t think most people realize that there are loopholes that allow corporations to spend lots of money on politics and deduct it. The situation is even worse with the Koch brothers, since their company is not a corporation, it is privately held and doesn’t have to even report much information, so there is lots of room for funny business.
I know what a (c)4 can do. My question is whether my donations to a c(4) are tax deductible. EB Doug – are you saying my individual donation is not tax deductible but it is for corporations?