Friday, November 4, 2011

The Revolution Will Not Be Televised Taxed

















Occupy Wall Street has reportedly received about $500,000 in donations so far, which is an interesting amount of capital for a bunch of anti-capitalism demonstrators to compile in about six weeks. And you know what that means. Inevitably, there has been fighting over the money that belongs to this avowedly leaderless movement:

Occupy Wall Street is awash with cash, some $500,000 by one estimate, thanks to generous donations. However, questions about spending that money have provoked controversy among the people who have gathered at Zuccotti Park to protest greed. Various groups of people are finding that the utopian society that they have created comes with bureaucratic red tape.

There is a Finance Committee that grabs as much of the money it can and is reluctant to dole it out. That sounds very much like the government outside Zuccotti Park. In effect, the Occupy Wall Street protestors are finding out that their taxes are too high.


Speaking of taxes, who does the IRS see about getting its slice of OWS's $500,000?

Nobody, that's who. OWS has hired a certified 501(c)3 non-profit entity to receive and disperse its money, which makes OWS's stash non-taxable to them and tax-deductible by the donors. Their 'fair share' of the nation's tax burden, then, is zero.

The tax haven for OWS is the Alliance for Global Justice, which explains the relationship this way:

What do OWS and our other fiscally sponsored projects get out of the relationship? They get additional accounting and administrative staff support and advice. They get to offer their donors tax-deductions for their donations. They get online donation capacity and staff to process and deposit donation checks as well as to send the IRS-required form for donations of $250 or more. They don’t have to worry about IRS forms and deadlines. They are covered by our liability insurance. If they have paid staff, which OWS does not, we handle their payroll and enroll them in our group health policy. For an organization like United Students Against Sweatshops, which rotates an entirely new staff in every couple of years, we provide continuity and organizational memory.

Many supporters ask if AFGJ takes a portion of the donations. We charge a relatively low rate for fiscal sponsorship, at a flat 7% of all money that passes through our channels for processing.


It's a good thing all these guys are part of the 99%, otherwise that could be called greed and corruption.

18 comments:

Anonymous said...

http://beportland.com/news/occupy-portland-regains-control-of-funds
Occupy Portland Regains Control of Funds
After It Almost Loses $20k
TSB: You will love this! gwb

TSB said...

That's a great news article. I bet the same thing is going on at all the Occupy-this-or-that movements.

OWS-ers talk about "the collective" making all their decisions, but it doesn't seem to work that way with the money.

TSB said...

GWB, the OWS drama reminds me of a women I knew back in late 70s who had lived in a commune for a couple years. She said she left because there were two classes: the ones who had to do all the house- and farm-work, and the ones who sat around smoking weed and thinking deep thoughts. She couldn't find any way to get promoted into the latter group, and so she left.

Anonymous said...

The truth is, I’ve received more contributions from members of the military than all the other Republican candidates for President – COMBINED!

In fact, the top three organizations that employ my supporters are the U.S. Army, the U.S. Navy, and the U.S. Air Force.
TSB: (from today's Ron Paul email)
It looks like the military guys can see the invisible candidate as the only one who might bring them home soon! gwb

TSB said...

I remember Paul got the same kind of military contributions in the last election. I wonder if he'll go third party, assuming he doesn't get the Republican domination?

Anonymous said...

TSB: I didn't know that about the military contributions last time.
(I was hermetically sealed in a "no politics zone.")
He is going to be the guest on the Fox Sunday show tomorrow. I'm going to tune in cause I forgot what he looks like! gwb

Anonymous said...

TSB: Third party? No. Why? "I don't want to!" He also explained clearly why he can't support any of the other candidates: They want to expand the wars, the Fed, the spending and the bailouts! Prediction: He goes from 12% to 18%
in next month. gwb

Anonymous said...

http://federaleagent86.blogspot.com/2011/11/complete-dhs-fail.html TSB: Federale keeps nailing Napolitano with one incredible story after another showing DHS is one big (empty?) suit. I don't know how Obama thinks he's going win any border states except maybe Kali-Kali- Forniastan. gwb

Anonymous said...

TSB: Huntsman says he would consider Palin for VP! Is that your dream ticket or what?? gwb

TSB said...

Too bad about Paul; I would have voted for him.

Huntsman? There's someone named Huntsman running?

Anonymous said...

Yeah man, You know... keyboard player for "Wizard" 1975 then moved on to be multi-billions industrialist .. This guy was born to run the free world and bring back 70's music. gwb

http://wonkette.com/446452/jon-huntsman-dd-nerd-who-played-keyboards-in-band-called-wizard

Anonymous said...

TSB: "Mr Butters" announced he is no longer interested in a White House run citing a career of sexual harassment which he plans to continue. He says Cain gives him the willies but he'd like to do a benefit for Justin Beeber. gwb

Anonymous said...

TSB: Did you hear the State Dept. is now investigating it's own investigation re: the XL pipeline
since there seems to be serious mistatements of fact in the proposal? That enviro impact report you referenced me was done by a company that has worked for Transocean for many years. This could be more trouble for "O" gwb

TSB said...

I hadn't heard that, but I'm not following it closely. There is a lawsuit under way, and enviro groups always claim there are misstatements and bias, so I'll wait and watch.

Obama says he'll be the "decider" on this, I just don't whether he means deciding from the front or the rear.

Anonymous said...

TSB: Federale strikes again! 4 years in Texas and I never heard the rumors about Perry's preferences. Now Federale shows us that a closeted gay cabal is running Homeland Security, trashing the constitution and getting ready to put all objectors in camps! http://www.opednews.com/thoreau022704_texas_governor.htm gwb

TSB said...

DHS always did seem open to alternative lifestyles, but GAY TEXANS? There are no rules anymore.

Anonymous said...

Happy Veteran's Day TSB!
Keep up the good work! gwb

TSB said...

Thanks. Same to you!