Marble Freedom, in existence for a year, gets $1.6 BILLION (with a b) in dark money

[lawgator1]

Massive dark money windfall: New conservative group got $1.6 billion from single donor | CNN Politics

Billionaire donates $1.6 billion in stock and so he doesn't pay taxes. Marble Freedom sells the stock, but they have no gain.

Marble Freedom is led by Leonard Leo, the co-chairman of the conservative Federalist Society, who advised former President Donald Trump on his Supreme Court picks and runs a sprawling network of other right-wing nonprofits that don't disclose their donors, which are often referred to as dark money groups.

The massive donation instantly makes the Utah-based group one of the most well-funded organizations bankrolling conservative causes in the US -- a staggering distinction for a group with zero public profile or even a website. In comparison, the single contribution is more than double the total amount raised by Trump's presidential campaign committee during the entire 2020 election cycle. 

And you wonder why the American people are suspicious that the dark money game is all about billionaires buying influence.

 

[Orangeburst]

Massive dark money windfall: New conservative group got $1.6 billion from single donor | CNN Politics

Billionaire donates $1.6 billion in stock and so he doesn't pay taxes. Marble Freedom sells the stock, but they have no gain.







And you wonder why the American people are suspicious that the dark money game is all about billionaires buying influence.

Disgusting and not one sided..Congress and the Feds like it though.

 

[volinbham]

I posted less than a year ago how the left has raised considerably more dark money than the right and it was crickets.

 

[McDad]

Sounds like a smart move to donate and avoid taxes. Outrageous!

Who is in charge of changing tax code right now?

 

[hog88]

I posted less than a year ago how the left has raised considerably more dark money than the right and it was crickets.

LG is fine when his team does it.

 

[hog88]

Sounds like a smart move to donate and avoid taxes. Outrageous!

Who is in charge of changing tax code right now?

The same people (just in different suits) as it was 40 years ago.

 

[McDad]

The same people (just in different suits) as it was 40 years ago.

Darn them people. Don't they understand evil conservatives are using their tactics?

This is serious business to LG, ya know.

 

[lawgator1]

I posted less than a year ago how the left has raised considerably more dark money than the right and it was crickets.

More than $1.6 BILLION to a single group?

Yeah, no.

 

[dovervolz]

Massive dark money windfall: New conservative group got $1.6 billion from single donor | CNN Politics

Billionaire donates $1.6 billion in stock and so he doesn't pay taxes. Marble Freedom sells the stock, but they have no gain.







And you wonder why the American people are suspicious that the dark money game is all about billionaires buying influence.

Funny that you pick this time to cry about dark money. Soros and company have been doing it for years and you stay quiet about it. Now all of a suden its wrong. It it was alright then, then its alright now. So you should just STFU about it.

 

[Vol8188]

Still never figured out how this works. The idea that you can donate money or assets without losing money overall.

Why’re we upset at a billionaire for giving away his wealth? Isn’t being a billionaire evil?

 

[Vol8188]

Massive dark money windfall: New conservative group got $1.6 billion from single donor | CNN Politics

Billionaire donates $1.6 billion in stock and so he doesn't pay taxes. Marble Freedom sells the stock, but they have no gain.







And you wonder why the American people are suspicious that the dark money game is all about billionaires buying influence.

Billionaire gives away wealth =bad?

 

[Vol8188]

Disgusting and not one sided..Congress and the Feds like it though.

I don’t see a problem at all. People should be able to donate their money as they see fit

 

[Vol8188]

Sounds like a smart move to donate and avoid taxes. Outrageous!

Who is in charge of changing tax code right now?

Is that even possible? The left seems to make this claim a lot. “Person x only donated to avoid taxes”.

I realize our tax code is massive but I’m pretty sure any donation only decreases your taxable income meaning you’d only save x% of the donation. So you’d still be losing money overall.

 

[McDad]

Is that even possible? The left seems to make this claim a lot. “Person x only donated to avoid taxes”.

I realize our tax code is massive but I’m pretty sure any donation only decreases your taxable income meaning you’d only save x% of the donation. So you’d still be losing money overall.

I think the donation was an asset (like stocks or real estate). Donating bypassed capital gain tax. Assuming donor sold asset with realized appreciation and gave proceeds over to the vile conservative cabal.

 

[Vol8188]

I think the donation was an asset (like stocks or real estate). Donating bypassed capital gain tax. Assuming donor sold asset with realized appreciation and gave proceeds over to the vile conservative cabal.

Either way the donation itself is greater than the overall gain you’d be taxed on and even then you’d only be taxed on a % of that gain. Instead you lost 100% of the gain and 100% of the investment.

 

[McDad]

Either way the donation itself is greater than the overall gain you’d be taxed on and even then you’d only be taxed on a % of that gain. Instead you lost 100% of the gain and 100% of the investment.

I understand what you're saying. Billionaire gave it away and "lost" it.

What I'm saying is he's better to donate the asset and let the tax exempt charity sell it rather than sell it himself and pay 20% to Unkie Sam.

 

[AirVol]

More than $1.6 BILLION to a single group?

Yeah, no.

‘Dark money’ topped $1 billion in 2020, largely boosting Democrats

Does it really matter the cost LG. Why can’t you admit the Dims are as corrupt as the GOP?

 

[McDad]

More than $1.6 BILLION to a single group?

Yeah, no.

You don't mind it or post diatribes unless the amount is large and it goes to a single group?

 

[allvol123]

“Dark” money? Do we really need to go there.

 

[0nelilreb]

Funny that you pick this time to cry about dark money. Soros and company have been doing it for years and you stay quiet about it. Now all of a suden its wrong. It it was alright then, then its alright now. So you should just STFU about it.

Yes but all the Soros stuff is just conspiracy, tin foil , hat stuff .. this is real and now it’s serious !

 

[MOOOOONEY]

Massive dark money windfall: New conservative group got $1.6 billion from single donor | CNN Politics

Billionaire donates $1.6 billion in stock and so he doesn't pay taxes. Marble Freedom sells the stock, but they have no gain.







And you wonder why the American people are suspicious that the dark money game is all about billionaires buying influence.

The Joe Biden administration had an opportunity through the inflation tax bill to make them “pay their fair share” but instead choose to target the middle and lower class earners.

 

[allvol123]

I’m not even reading thru this. If someone if finding a way to pay less money to the IRS, good for them!

 

[Grand Vol]

Where did this term dark money come from anyway?

Almost sounds racist.

 

[0nelilreb]

Where did this term dark money come from anyway?

Almost sounds racist.

Only because the woke machine isn’t 100% positive that “ white privileged money “ will help them or not .

 

[Thunder Good-Oil]

The US Treasury probably ends up with more revenue in the long run than if that wealth was just passed through to future generations of family beneficiaries. An organization that well funded is going to have a large staff that generates payroll taxes year after year. Plus the organization will probably spend it much faster than the trust fund would - the billion plus will quickly filter through the economy. Most likely far more efficiently than via government programs.

It’s his money. He earned it. He gets to decide how to distribute it.