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(Answer) (Category) The Reality Sculptors "Faq-O-Matic" : (Category) "Laws We'd Like To See" :
All Campaign Contributions Are Taxable As Income
All monies received by anyone running for any public office (campaign contributions, fund-raisers, "soft-money", "hard-money", and the like) are to be taxed as income for the Candidate in question, and at the appropriate level of taxation for that income level.

For example, recently, George W. Bush raised approximately $36 million in about one weekend of fund-raising. That $36 million, plus any other contributions, is added to his other income, and taxed at the appropriate rate.

There are no deductions, exemptions, discounts, tax-shelters, or other tax loopholes which may be applied to any campaign contribution money. It is all taxed at the full rate.

Similarly, campaign contributors may not claim any deductions, exemptions, discounts, tax-shelters, or other tax loopholes for money they contribute to political candidates.


1999-Sep-08 9:58am salsbury

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1999-Sep-08 9:58am
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