Nonprofit… but for political gain
Posted in Democracy Alliance, George Soros on Nov 13th, 2007
Let there be no question, the left is fine tuning its nonprofit money machine. This just in via the Los Angeles Times.
When Taco Bell heir Rob McKay and his fellow “investors” gathered in Washington this month to fund start-ups, they weren’t looking for the latest idea hatched in some tinkerer’s garage.
Instead, the investment partnership known as Democracy Alliance, a group that includes filmmaker Rob Reiner and billionaire George Soros, were looking to be angels to political start-ups. In the 2008 election, their millions could be part of the new thing in politics.
Some major political players are expected to shift their money away from traditional campaign entities in favor of an old standby: the nonprofit. By giving to nonprofits, donors are unfettered by contribution caps that apply when they give directly to candidates. They also can be assured of anonymity.
The law allows nonprofits to be “very aggressive politically, while shielding donors from disclosure,” former Federal Elections Commission Chairman Michael E. Toner said. “That is a very attractive combination.”
