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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTHE BIGGEST LOSERS=Koch/Adelson: "It would have been cheaper to just pony the fuck up on their taxes
If this scenario comes to pass, the biggest losers, of course, will be the billionaires who have spent astonishing sums to purchase our democracy fair and squarewith bupkis to show for it on November 7. Sheldon Adelson and family will be out $53.69 million. The Koch Bros. will be $36.66 (number of the devil!) lighter.
Theyre businessmen. Maybe theyll conclude it would have been cheaper to just pony the fuck up on their taxes? Hahahaha!
http://www.balloon-juice.com/2012/11/03/gop-roi-the-blossoming/
arthritisR_US
(7,292 posts)BlueToTheBone
(3,747 posts)So, it's just a personal loss.
PA Democrat
(13,225 posts)as tax-exempt but which are in truth purely political. For example, the Koch brothers' Americans for Prosperity is a 501(c)(4), as is the Republican Jewish Coalition which is chaired by Sheldon Adelson. When you look at the ways in which they spend their money, there is no doubt that they are political organization and should not have tax-exempt status.
Good article by Propublica here:
http://www.propublica.org/article/how-nonprofits-spend-millions-on-elections-and-call-it-public-welfare
But the well-dressed crowd that gathered in May for a luncheon on the 24th floor of a New York law firm easily could have figured that the group had a different purpose: Helping Mitt Romney win the presidency.
Brooks, the group's executive director, showed the 100 or so attendees two coalition-funded ads taking aim at President Barack Obama. Then Brooks made a pitch for a $6.5 million plan to help Romney in battleground states, reminding guests that their donations would not be publicly disclosed by the tax-exempt group.
"Contributions to the RJC are not reported," Brooks told the people sitting around a horseshoe-shaped table. "We don't make our donors' names available. We can take corporate money, personal money, cash, shekels, whatever you got."
BlueToTheBone
(3,747 posts)endeavor and make a tax deduction on the way.
arthritisR_US
(7,292 posts)education and such.
Panasonic
(2,921 posts)And get indicted for tax evasion
Flashmann
(2,140 posts)For some time,now......And WHO are they planning to screw to make up their losses,and how......Any wild guesses?...
madokie
(51,076 posts)its the getting by with something that lures them in.
oswaldactedalone
(3,491 posts)Be decent Americans and an Economic Patriots instead of acting like the Nazi Party of the Third Reich.
BumRushDaShow
(129,449 posts)the broadcast media, as they rake in over a billion dollars in radio and television ads. Next would be the Madison Avenue types who make the ads, then the telemarketers and phone companies renting out lines and generating robocalls, and finally, the good old Post Office, who barely manages to stave off bankruptcy due to this brief period of massive amounts of election-related mail.
Of course, the rethug paid campaign staff takes THEIRS off the top.
bluemarkers
(536 posts)even though it really isn't
KharmaTrain
(31,706 posts)TV and cable came off as the big winners here...especially in the "battleground" states. The money pouring in those places is incredible...but it's not evenly distributed. Non battleground states got almost nothing...superpacs were involved with congressional races but the big money poured in only a handful of races (Ohio in specific) and we're still to see if this influx of spending will have an impact. The biggest loser was hate radio...they were hoping that a contentious election would mean rushpublican campaigns would rain money on them. It didn't quite happen that way...Bain Capitals purchase of Cheap Channel in '07 would assure that. Why should a candidate throw away money on radio outlets that were campaigning for them 24/7? Overall radio got crumbs...a big reason I expect some big changes in the industry in the year ahead...
Hamlette
(15,412 posts)TV stations must offer advertising time at the lowest rate they charge. There is a finite number of ads they can run. Maybe a few more during election season but not that many more.
I think of it more as a stimulus program funded by assholes like Rove, America's number one grifter, and his prey.
Panasonic
(2,921 posts)SHold seize and nationalize the radio, effectively nullifying the right wing propaganda te these fools are spouting. That includes lush fatburger
KharmaTrain
(31,706 posts)Sorry...no sale here. I firmly believe in the need to repeal most of Telcom '96 that turned the public airwaves into the private holdings of a handful of large corporates...restore local control, but not to "seize and nationalize" anything. Just put the shoes on the other foot...should stations such that carry Progressive Talk be confiscated should right wingers take control? Careful of those slippery slopes.
Good news is hate radio has turned into a financial liability...thanks to the over-the-top crap that spews out of there and targeted boycotts and the "free market" will ultimately destroy it as it no longer serves its masters...
BlueToTheBone
(3,747 posts)from this debacle.
progressivebydesign
(19,458 posts)Not sure how much he wants Robme to win. Though I imagine like the rest of the chicken hawks, he has fat investments in the military machine. That's why McCain, and Rumseld, and Sununu, and their ilk, push so hard for war. They make a shitload of money.
KharmaTrain
(31,706 posts)Adelson, Wynn, Leavitt and their ilk are running attack ads under the guise of "endingspending.com"
Here's their Open Secrets info:
https://www.opensecrets.org/outsidespending/contrib.php?cmte=C00489856&cycle=2012
12 million bucks being thrown in the last weekend of the campaign to try to buy Willard the White House...
bluemarkers
(536 posts)especially the vulgar rich. They were duped and they know it. I've not seen one report that says rmoney has spent one dime of his fortune on the campaign. Does anyone know if he has?
moondust
(20,006 posts)He got burned pretty bad in 2008 spending his own money trying to win the nomination. He probably figured Citizens United would allow his corporate cronies to foot the bill this time.
newspeak
(4,847 posts)it's the ability to do any damn thing you please; screw your workers, con people without those damn pesky regulations. it's for their own interest.
and not one of these wealthy cretins should be complaining about the deficit, when they helped create it.
leveymg
(36,418 posts)Where's my fuckin' watch and wallet? G-d that hurts - what the hell happened to my back and right testicle? Oh, now it's comin' back to me . . .
socialindependocrat
(1,372 posts)I believe they will find that there is a limit to the number of ads a person sees in a day and their effect.
Meaning to say: They will find that afetr a certain umber of ads seen buy a person the effect of the add lessens.
1) After I see too many ads I start getting angry and turn off the sound
2) When I see ads that are based on lies I am more resolved to vote for Obama
3) After getting repeatedly pissed on a daily basis I just want to vote for Obma and get this election over with.
4) Now I write in surveys that it will be a cold day in Hell before I will vote for a Repuke ever again because they are lying bastards.
They ain't s damn smart or they would have been able to predict that they can't buy an election
We can all sit and laugh at their loss of money and an obviously flawed experiment.
I am so tired of the lies and spins..
-LOKI -BAD FOR YA
(308 posts)randome
(34,845 posts)That's something to keep in mind.
NoMoreWarNow
(1,259 posts)DirtyDawg
(802 posts)...has more concerns than paying a 'whopping' ten percent more in personal income taxes...he wants to keep his ass (literally and figuratively) out of jail for violation of the Foreign Corrupt Practices Act.
DirtyDawg
(802 posts)...plus he's trying to do everything he can to keep the pot boiling in the Middle East so that the US will ultimately go to war with all of Islam in the warped belief that military dominance is the only way Israel wii survive.
Panasonic
(2,921 posts)And no plea deal for adelson. One he is indicted, he will be found guilty and sentenced to life without parole there as he deserves to do so
All assets of adeson ill be sized and repatriated to the us government
BlueToTheBone
(3,747 posts)He'll run somewhere...or do a Ken Lay.
Raster
(20,998 posts)Adelson was hoping for a VERY FRIENDLY Justice Department to look the other way in some of his potential mis-dealings concerning his casino interests in Macao, specifically bribing Chinese officials for preferential treatment. It increasingly appears that the gambling magnate may have doubled-down at the wrong time.
The Koch were hoping to use their money to sway large numbers of legislators with their new political muscle, which it now looks like just may be just a very expensive illusion. The Koch's were hoping their teabag zombies would help solidify their control of the rethuglican party. Now it appears their teabillies are clueless and ineffective and can't even control their own bodily functions.
The big winner and loser is KKKarl Rove*. Big winner, because of all the money he has collected from Adelson, the Kochs and others who were hoping to benefit from Rove*'s Svengali touch. However, turd blossom is proving to be just that. A minor piece of shit: all stink and no substance. It appears that all of Rove*'s legendary political acumen may be bullshit, smoke and mirrors.
santamargarita
(3,170 posts)for a few days and lay off 5000 employees.
flamingdem
(39,321 posts)jtuck004
(15,882 posts)to carry on the work, and they have bought a ton of support. They are in this for the long haul, and Nov. 6 will be just another day in their campaign.
Forbes 40 richest people, Sheldon Adelson comes in at #24 with $21 billion, (and that's the lowest estimate I've seen) btw, so $53.69 million may well have been less than he could have owed in taxes if he had to pay his fair share of what it takes to keep him in business.
stuffmatters
(2,574 posts)If the Democrats actually changed the tax code to have these billionaires like Kochs and Adelson "pay their fair share," both personally and corporately, here's where their taxes could increase billions.
Estate tax would cost Adelson probably around 30 billion. The Koch boys like 20 billion. Even Romney would have to pay at least 100 million unless he gets elected and can abolish it.
Paying tax on foreign profits now held/hidden overseas...billions. Romney would have granted a tax repatriation holiday.
Eliminating carried interest, upping (rather than eliminating under Romney) capital gains tax.
Eliminating the cap of 106.000 on social security income. Maybe even extending it to capital gains over 250000.
Transaction tax on every Wall Street activity. Why not charge the "buyer" as well as the institution too.
I wondered why these rich guys hate Obamacare so much. Then noticed it will include a 2- 3% income tax for the wealthy that will kick in when implemented 2014
Yes, Adelson faces some criminal charges as does Murdoch for similar bribery violations of foreign practices act.
Koch Bros business is going to "suffer" massive costs as their ancient pollution spewers become required to meet upcoming EPA standards, deadlines Romney would have bagged for them And then, yes, of course the more unions that can be busted and wars started, the more obscenely all of them profiteer.
Even Romney would easily avoided a hundred million if he could get himself elected and his "tax cuts" enacted. But the Kochs and Adelson, the money they would make off of a Romney presidency makes their campaign contributions insignificant by comparison.
spooky3
(34,476 posts)KittyWampus
(55,894 posts)For some people, power and control are what drives them.
progressivebydesign
(19,458 posts)Dustlawyer
(10,497 posts)CONTROL!
Johonny
(20,888 posts)world wide wally
(21,754 posts)staggering amounts of money to them for a long time. I venture to guess in the TRILLIONS
louis-t
(23,297 posts)pissing their money away.
progressivebydesign
(19,458 posts)and then I want to see him kicking his desk and breaking his foot.
Marr
(20,317 posts)They've purchased a nice little block of the "opposition party", too. So they can gain BIG amounts of ground when Republicans hold office, and still gain ground (or at least hold the line) when Democrats are in office.
libodem
(19,288 posts)Republican lite. I think the founders felt it would bring them some of that big money from business.
Marr
(20,317 posts)whistler162
(11,155 posts)the Koch's and Adelson and be asked how he plans to repay the money he lost plus the vig!
MrSlayer
(22,143 posts)50 million to that piece of shit Adelson is like 10 bucks to regular people. And the Kochs split the bill so it's even less to them. They had nothing to lose and everything to gain.
CheapShotArtist
(333 posts)Puh-lease...
Cha
(297,655 posts)http://theobamadiary.com/2012/11/03/heads-up-president-obama-in-milwaukee-2/#commen
If they just paid they're taxes..then they would actually be helping America and they're Against It.