Stephen has his Super PAC and that's great. He has been displaying the names of his donors across the bottom of the TV screen and we appreciate that.
But something was missing for Stephen. He wanted secrecy. So, friend of the show Trevor Potter showed up again with all the paperwork complete so that Stephen could get his very own 501(c)(4).
Stephen is the sole director of the corporation and therefore he had the power to elect himself president, secretary and treasurer. And he did so.
He can take in money and no one need know who it came from. Why, in 2011, Karl Rove's American Crossroads took in 90% of its money from just three billionaires!
So, Stephen can take in unlimited money and no one will know where it came from. And in a really sweet deal, he can take that transparent money from his Super PAC and give it to this 501(c)(4). So while the Super PAC is all out in the open, the 501(c)(4) can hide away in the shadows.
He can donate money to political causes or candidates as long as that's not his main objective. Oh, yeah, it's about education, yep, that's what the purpose of his 501(c)(4) is all about.
To get him started, Kevin Kline was on to host The Donating Game.
And now for something completely different:
Stephen had as his guest Dallas Mavericks owner Mark Cuban. Since he is a billionaire, Stephen asked him what he would like to donate money for but wouldn't want anyone to know he was doing it. Unfortunately, just as Mark was answering, the screen went to a "Sorry, Technical Difficulties" graphic. So, we'll never know.
Thursday, September 29, 2011
Sorry Technical Difficulties
Labels:
501(c)(4),
Karl Rove,
Kevin Kline,
Mark Cuban,
SuperPAC,
Trevor Potter
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