The non-partisan Government Accountability and Oversight, P.C. (GAO) has its sights set on a Democratic candidate for president. They’ve accused Mike Bloomberg of breaking IRS rules surrounding his various non-profit organizations, saying they’re being used not only to benefit his for-profit businesses, but more importantly they’re giving him a boost for his presidential campaign.
In a letter sent to IRS Commissioner Charles P. Rettig, the watchdog group called on the IRS to investigate Bloomberg Family Foundation Inc. and “Bloomberg Philanthropies,” both of which the GAO believes “may be operating in violation of the Internal Revenue Code.”
The ironic part is some of the media reports the GAO references were intended to paint the Trump Foundation as doing what Bloomberg’s various charities have done. The cases against the Trump Foundation have been weak despite Herculean efforts to make something out of nothing. The organization operated essentially the same over the years. Meanwhile, Bloomberg’s various charities seem to have been inherently political, even before he was officially a presidential candidate, with their efforts to promote their founder ramping up around his campaign announcement late last year.
The letter states, “As one former White House counsel and lawyer for the Democratic National Committee writes, ‘The law governing the activity of charitable organizations can be complex, but on the question of whether 501 (c)(3) charities can engage in political activity, it could not be more straightforward. They cannot. The IRS enforces an ‘absolute’ prohibition on any intervention in political campaigns.'”
If the IRS finds Bloomberg’s charities have been helping him secure the Democratic nomination for president, the potential repercussion could be to remove their tax exempt status. But the real damage will come to the perception of his campaign and his integrity. Using charitable donations to advance one’s political ambitions is generally deemed highly inappropriate.
This is big news. Mainstream media likely won’t report it until there’s a groundswell of awareness that makes their cover up too conspicuous. They want Mike Bloomberg as the Democratic nominee. How far will they go to hide the truth for him?
Image via Gage Skidmore