One of the biggest problems facing this nation is the amount of money that has been “sequestered,” to term it, for “Non-Profit Organizations,” or “NPO’s.” Why? They present a problem when they can be used by an unscrupulous individual or groups of unscrupulous individuals (for examples, a George Soros, or the Democratic Party respectively). What is an NPO? Let’s look at what they are and see if the definition is characterized by actual NPO actions.
Here is an excerpt from a book that describes NPO’s (what they should be):
“The main financial difference between a for-profit and a not-for-profit enterprise is what happens to the profit. In a for-profit company like Ford or Microsoft or Disney or your favorite fast-food establishment, profits are paid to the owners, including shareholders. But a nonprofit can’t do that. Any profit remaining after the bills are paid has to be plowed back into the organization’s service program. So profit can’t be distributed to individuals, such as the organization’s board of directors, who are volunteers in every sense of the word.”
“Nonprofit Kit for Dummies,” ISBN: 0-7645-5347-X, pg. 8
Austere and stoic, these NPO’s, all! Ahh, but what is conveniently left out is the salary portion…for the directors. Those salaries are written off as an operating expense by the “Non-Profit,” but they’re hardly the funds gleaned by a “simple volunteer for the beneficent NPO.” Another paragraph from the book shows this:
…for the most part, we’re talking about an organization that the Internal Revenue Service has classified as a 501(c)(3). They receive exemption from federal income taxes and sometimes relief from property taxes at the local level. Nonprofit organizations classified as 501(c)(3) receive extra privileges under the law. They are, with minor exceptions, the only group of tax-exempt organizations that can receive tax-deductible contributions from individuals and organizations.
Being a nonprofit organization does not mean that an entity is exempt from paying all taxes. Nonprofit organizations pay employment taxes just like for-profit businesses do. In some states, but not all, nonprofits are exempt from paying sales tax…”
One of the group’s biggest donors is the Tides Foundation, a non-profit funded by billionaire progressive philanthropist George Soros. Tides gave AfGJ $50,000.
The United Steel Workers labor union also contributed $5,000. The city of Tucson is also listed in AfGJ’s 990 as a donor, but a city official says that the city acted merely as a pass-through for a Native American tribe that provided a grant to the activist group. The city official said that no city money went to AfGJ.
Charities associated with several major corporations also donated. Patagonia.org, the outdoor apparel and equipment company, gave $40,000. The Ben & Jerry Foundation, the charity associated with the ice cream maker, gave $20,000. And Lush Cosmetic gave $43,950.
Another bit of irony is seen in the $5,000 contribution from the Peace Development Fund, a group that claims to support organizations that fight for human rights and social justice.
Another major donation came from a group that was chaired by Hillary Clinton during the 1980s. The New World Foundation gave $52,000 to AfGJ.
There’s a solitary man at the financial center of the Ferguson protest movement. No, it’s not victim Michael Brown or Officer Darren Wilson. It’s not even the Rev. Al Sharpton, despite his ubiquitous campaign on TV and the streets.
Rather, it’s liberal billionaire George Soros, who has built a business empire that dominates across the ocean in Europe while forging a political machine powered by nonprofit foundations that impacts American politics and policy, not unlike what he did with MoveOn.org.
Mr. Soros spurred the Ferguson protest movement through years of funding and mobilizing groups across the U.S., according to interviews with key players and financial records reviewed by The Washington Times.
In all, Mr. Soros gave at least $33 million in one year to support already-established groups that emboldened the grass-roots, on-the-ground activists in Ferguson, according to the most recent tax filings of his nonprofit Open Society Foundations.
George Soros is having a very good crisis. Other investors are wilting, political power structures are being upended and market economists are scrambling to fashion new theories, but the world’s most famous speculator is having a belated heyday.
“It is, in a way, the culminating point of my life’s work,” the 78-year-old says in his heavy Hungarian accent during an interview at his London mansion.
If Soros had retired from the money markets at 48 to become a philosopher – which was his life plan when he set up his own Wall Street hedge fund at the age of 43 – the world is unlikely to have heard of him, as either an ideas man or a money man. Even if he had ended his career 20 years later, he would have been remembered as little more than the big-stakes gambler who “broke the Bank of England” with his 1992 bet against the pound that earned him $US1.1 billion.
At 68 Soros had just predicted a global financial collapse which did not happen, just as he had done a decade earlier; his pet theory of market behaviour, which he calls “reflexivity”, had been largely ignored; and his political donations had bought him little sway in Washington. Yet today, he says, all those strands seem to have come together – “the American election, the financial crisis, the theory of reflexivity, so it is actually a very stimulating period”.
In the latest from the front lines of the establishment’s war against free speech and culture, a mainstream YouTuber gets woke after accidentally going against their social programming agenda.
The cultural Marxism of the dying establishment and their dinosaur pravda will go to any length to label dissenters as racists and Nazis, even if everyone can see with their own eyes that it is ridiculous satire.
Every time the dinosaur media cooks up some false impression that is instantly recognizable to internet denizens, as false, they dig their own fake news grave deeper.
In return they get trolled by an irreverent troll culture that does not care about their fake morals, and the trolls up the ante every time.
Is the media and establishment so brain dead that they create and build up their own worst enemies? (which is exactly what happened with Donald Trump) Or is this an orchestrated attempt by a few controlling interests to build up and supply both sides of a war?
Just like WW1 and every conflict since, are we seeing the masters of Wall Street simply play their old games of manipulating and funding both sides of a conflict?
More meddling in our economy by central banks, encouraged by paid celebrity economists, is what got us into this mess in the first place.
Jeffrey P. Snider
Like it or not, this is where we have been all along and a great many people are just now catching up. No matter what Janet Yellen says about the economy, she is talking out the side of her mouth. Internally, the recovery is gone, and it is never coming back. Externally, we have sub-5% unemployment so we all should be so happy, especially with, in her view, stable prices.
To their credit, many prominent economists aren’t so enthusiastic about those prospects. Among them are Larry Summers, Paul Krugman, and Brad DeLong, all who recognize that “something” just isn’t right and therefore “something” else should be done about it. Thus, the real economic debate over the coming years (unfortunately) will take shape around those two facets. Having wasted nearly a decade on purely central bank solutions that were never going to work, the real discoveries can now possibly take place.
The problem is as I wrote yesterday, where in a rush to do anything and everything “different” the Trump administration might actually spoil the process. De-regulation and income tax cuts, as well as the repeal of Obamacare, are all very good things that sorely need to be addressed; but they didn’t cause this depression and thus won’t get us out of it. And you can bet that none of Summers, Krugman, or DeLong will be in favor of those options, so if they all fail to restore economic growth, as I believe they will if left in isolation, then that will severely diminish those ideas for perhaps a generation or more. That would be a fatal mistake, especially since for the first time in many generations people outside of Economics are receptive to “new” ideas (that are only new because they have been out of practice and actively discouraged for so long).