Political donors to pay gift tax.....

[AZ-Tax]

http://www.nytimes.com/2011/05/13/business/13gift.html?_r=1&emc=eta1

http://www.msnbc.msn.com/id/43016229/ns/politics-the_new_york_times/

[erchess]

Looks good to me

Why not declare that all donations count toward the gift tax rules? And who among us can seriously argue that either AFP or the GPS group associated with Karl Rove exists primarily for non political purposes?

[JoshinNC]

Secures

Why not declare that all donations count toward the gift tax rules? And who among us can seriously argue that either AFP or the GPS group associated with Karl Rove exists primarily for non political purposes?

I'm glad you chose only to reference the conservative groups identified in the article and completely left out Soros' contributions. I will file that in my database to return to when I read some of your other posts to help me figure out from what angle you speak.

[newbie]

Seems the point Erchess made is not the contributions but rather the fact that these organizations are political.

To be established as nonprofit corporations under a section of the tax law, 501(c)(4), and the rules governing them say their primary purpose cannot be political.

Doesn't matter if they are coming from the left or the right - or at least it shouldn't!

[jimenright]

It seems to me

that one could get around this by giving 13k each to individuals in the organization who could turn around and gift it to the organization. For example, if you want to donate 1 million, give 13k each to 77 different individuals.

[taxxcpa]

Getting around it

that one could get around this by giving 13k each to individuals in the organization who could turn around and gift it to the organization. For example, if you want to donate 1 million, give 13k each to 77 different individuals.

That is exactly the way I do it when I want to donate $1 million or more.

[MilTaxEA]

that one could get around this by giving 13k each to individuals in the organization who could turn around and gift it to the organization. For example, if you want to donate 1 million, give 13k each to 77 different individuals.

While I can't come up with a cite off the top of my head, I'm thought I've read somewhere that this is not allowed. I thought a gift was defined as money/property given with no strings attached. If you give it with the condition they pass it on to another organization, it is considered to have been given directly from you to that organization.

Does anyone know the answer one way or the other?

[erchess]

Agree with

Josh and the other poster who pointed out that it does not or should not matter where on the political spectrum a group falls.

I guess everyone here knows that at one time political donations were tax deductible even when given to candidates or parties and otherwise acceptable charities could engage in politics. This changed when then Rep Lyndon Johnson (D Tx) narrowly averted defeat from a candidate backed primarily by one charity in his district and he pushed through the change. Maybe he had a bad idea there. There have certainly been abuses of the rules from both liberals and conservatives since that time.

[newbie]

Politically illiterate....

What happens to PAC money if candidates don't run?

All of these PAC funds created -Palin for example(haven't had my coffee yet - if I could think of a liberal off the top of my head I'd throw it out too) - if they don't run for any office do they get to keep the funds?

[AZ-Tax]

I may shed some light on the left over PAC money

What happens to PAC money if candidates don't run?

All of these PAC funds created -Palin for example(haven't had my coffee yet - if I could think of a liberal off the top of my head I'd throw it out too) - if they don't run for any office do they get to keep the funds?

I may be able to shed a little light on this. I believe they refer to this as their "war chest" . Sen John McCain (AZ), donated some of his unused campaign money ($1 million) to the campaign of Joe Miller running for Alaska senate. When I saw this I emailed Sen McCain being my Senator and I am yet to receive a reply but I was curious what restrictions this war chest money has so I emailed the Fed elections commissions inquiring if that war chest money can be donated to lets say a non profit charity like the St. Vincent Depaul, Red Cross, Salvation Army, any or all AZ school districts (AZ was forced to cut back on a vital Kindergarten program) etc. and the FEC replied that was permittabe. I am, have been and will be to the day I die, aganist political candidates receiving money for their campaign, political ads and robo calls. I would love to see a 3rd party that does NOT accept campaign money, places no political ads, no robo calls and does NOT appear on any cable TV political shows. A public servant that is a true public servant vs a true (use your immagination)

[veritas]

So

I may be able to shed a little light on this. I believe they refer to this as their "war chest" . Sen John McCain (AZ), donated some of his unused campaign money ($1 million) to the campaign of Joe Miller running for Alaska senate. When I saw this I emailed Sen McCain being my Senator and I am yet to receive a reply but I was curious what restrictions this war chest money has so I emailed the Fed elections commissions inquiring if that war chest money can be donated to lets say a non profit charity like the St. Vincent Depaul, Red Cross, Salvation Army, any or all AZ school districts (AZ was forced to cut back on a vital Kindergarten program) etc. and the FEC replied that was permittabe. I am, have been and will be to the day I die, aganist political candidates receiving money for their campaign, political ads and robo calls. I would love to see a 3rd party that does NOT accept campaign money, places no political ads, no robo calls and does NOT appear on any cable TV political shows. A public servant that is a true public servant vs a true (use your immagination)

you would leave politicians to be heard how?

[David1980]

I would love to see a 3rd party that does NOT accept campaign money, places no political ads, no robo calls and does NOT appear on any cable TV political shows. A public servant that is a true public servant vs a true (use your immagination)

I wouldn't be surprised if this already existed, and just nobody knew about it.

[BHoffman]

The current mantra is: "Money is Evil"

Money is simply the way the World keeps score on us.

If we provide things and services of great value, we are rewarded with lots of money.

If we don't, we are punished with poverty.

If we make smart decisions, we get to keep our money.

If we don't, we lose our money and are punished with poverty.

Those are the hard facts. Those facts are universal - in the US and in North Korea. The only variables are "what is valued?" and "what is smart?".

[erchess]

Money

It is not that money is evil in and of itself. It is how money is obtained and used that sometimes come under question. The problem in the current discussion is that some seem to have inordinate political influence because they have so much money. I mean, who do you suppose can get a politician's ear more readily - one who gave more or one who gave less? I'm not sure it is desirable or even possible to do this effectively, but there has been an effort for a long time to limit the amount one person can give to one candidate in one year. The first national bill I remember was McCain Feingold, the sponsors of which were respectively a centerist Republican and a liberal Democrat. There has been a concurrent effort to ease the pressure on political candidates to raise money from donors by providing public monies to those who demonstrate certain levels of public support. We also (if I understand correctly) don't allow corporations as such to donate politically but one or more corporations or wealthy individuals who are often major stake holders in corporations may form a PAC and while there are regulations that must be followed, a good bit of money manages to get into the political process and naturally the politicians are crystal clear on which individuals and groups are behind the money. In an effort to balance this influx of cash from the rich, lower income and middle class workers are permitted under certain circumstances to form Unions which can, among other things, make political contributions.

[AZ-Tax]

How a 3rd party that takes no campaign money can be heard

you would leave politicians to be heard how?

I went to basic cable tv about a year ago. NO msnbc, cnbc, fox, cnn etc. Still get all local stations and there is quite a few. ASU (AZ St University) has a program called “Horizons” and I believe it can be seen on any tv in AZ with or w/o cable therefore greater access for all of AZ. The host is courteous, does not interrupt but puts pressure on the guest to make their answers short and to the point for there is only so much time for this program. Also, does not disguise his questions with an “allegation”. Same goes for other local stations on their political programs. “Keep it local stupid” is my motto. I could care less when cnn has a governor, senator or congressman/women on from another state same goes for msnbc and fox. Lastly, how about more local "townhalls" meet the candidates.

Robo calls: Those of you that have home offices, you probably have a home line and bus line or your home line is your bus line. You may have a couple kids in school and/or ill relatives etc. Its early Oct and the 15th is around the corner so every minute counts and your home phone rings and the caller id says “private caller” so you answer it thinking it could be the school about my kids or your relative’s illness took a turn to the worst. The AZ Republic newspaper did a survey vote to abolish robo calls. 95% said yes. I spoke to an AZ statehouse rep and he said you are probably be stepping on the “Freedom of speech”. Ok, I am registered independent (called PND party in AZ) and I am for a solution not a fight so I can meet them half way. All robo calls must display “Robo Call” on the caller id. So when my home cordless phone is sitting on my desk and it rings or flashes and displays “robo call”, I now know who it is for which I will not answer thus saving me about 5 mins of my precise time. Multiply by 100….you get the picture. If you happen to have one of those phones that speaks the callers name when it starts to ring and you are in the shower, brushing your teeth, putting dishes in dishwasher, etc., you will hear your phone say “Robo Call” therefore you Don’t need to drop what ever you are doing.