4 ms·

501c4s, aka SuperPACs are nonprofit "charitable" organizations. It's not like the government confiscates 100% of wealthy people's money as soon as they try to

by pnut 11y ago

501c4s, aka SuperPACs are nonprofit "charitable" organizations. It's not like the government confiscates 100% of wealthy people's money as soon as they try to do good, it just taxes it like it does for mere mortals, whenever it changes hands. Using a legal construct to avoid personal tax liability, is quite literally depriving the government of funds it would otherwise be entitled to. I think both sides of this debate have legitimate viewpoints, but I personally have a problem with the excessive opportunities given to the wealthy to avoid contributing to the funding of our shared system of governance and infrastructure. Historically, they've never had it this good both tax-wise and income-wise, and to cry victim is in poor taste.

harryh 11y ago
"Contributions to civic leagues or other section 501(c)(4) organizations generally are not deductible as charitable contributions for federal income tax purposes" https://www.irs.gov/Charities-&-Non-Profits/Other-Non-Profits/Donations-to-Section-501(c)(4)-Organizations https://www.irs.gov/Charities-&-Non-Profits/Other-Non-Profit...
dragonwriter 11y ago
> 501c4s, aka SuperPACs are nonprofit "charitable" organizations. Two major errors in only seven words: 1: 501c4s are not "aka SuperPACs". Some SuperPACs are 501c4s, and some 501c4s are SuperPACs, but the things are neither equivalent (which is what "aka" ["also known as"] means) nor is either a subset of the other; there are 501c4s that are not SuperPACs, and SuperPACs that are not 501c4s (527s are less restricted than 501c4s in operations and historically more common for SuperPACs, 501c4s are adopted by some because, while more restricted in operation, they are able to keep donor lists secret while 527s are required to disclose donor lists.) 2: 501c4s (and 527s, for that matter) are tax-exempt non-profits, but not charities (charities are 501c3s, which in addition to being tax-exempt feature tax-deductibility of donations for donors; non-charity tax-exempt nonprofits do not feature deductibility of donations.)

by pnut 11y ago

harryh 11y ago

"Contributions to civic leagues or other section 501(c)(4) organizations generally are not deductible as charitable contributions for federal income tax purposes" https://www.irs.gov/Charities-&-Non-Profits/Other-Non-Profits/Donations-to-Section-501(c)(4)-Organizations https://www.irs.gov/Charities-&-Non-Profits/Other-Non-Profit...

dragonwriter 11y ago

> 501c4s, aka SuperPACs are nonprofit "charitable" organizations. Two major errors in only seven words: 1: 501c4s are not "aka SuperPACs". Some SuperPACs are 501c4s, and some 501c4s are SuperPACs, but the things are neither equivalent (which is what "aka" ["also known as"] means) nor is either a subset of the other; there are 501c4s that are not SuperPACs, and SuperPACs that are not 501c4s (527s are less restricted than 501c4s in operations and historically more common for SuperPACs, 501c4s are adopted by some because, while more restricted in operation, they are able to keep donor lists secret while 527s are required to disclose donor lists.) 2: 501c4s (and 527s, for that matter) are tax-exempt non-profits, but not charities (charities are 501c3s, which in addition to being tax-exempt feature tax-deductibility of donations for donors; non-charity tax-exempt nonprofits do not feature deductibility of donations.)