Sethbag wrote:I guess what gets me is that Bob seems to be upset that people are protesting against the Mormon church for their stand on Prop 8. Why is that so abhorrent, Bob?
You're confusing me with somebody else. Nothing upsets me. Protest all you want. (I guess, intellectually only, in your case.)
But I personally don't see what sense there is in allowing multi-billion dollar corporations to "earn" billions of dollars a year and not pay taxes on that like every other corporation out there.
Charitable contributions are not "earnings". Even if the Church were not tax exempt, its receipts would be gifts and would not be "earnings" under the U.S. Tax Code. The donors would however be subject to gift tax. The Church would, however, pay tax on invested earnings which it largely does already with the entities which hold assets outside of the church structure.
As I pointed out in a prior post, the Church contributed no cash to Prop 8; no tax exempt funds were contributed by the Church. On the other hand, there were many tax-exempt organizations on the anti-Prop 8 side which did contribute funds.
Facts and truth, maybe?