Liberal Sugar Daddy George Soros May Face A ‘Monster’ That Will Eat Away His Political Power
by Norvell Rose, Western Journalism
In January of this year, Western Journalism reported on the millions of dollars that liberal billionaire George Soros and his politically involved foundations gave to help various groups of Ferguson protesters. “Buses of activists from a litany of organizations — all funded in part by Mr. Soros” showed up in the Missouri city scorched by riots related to the police-involved death of Michael Brown.
Soros, of course, is widely recognized for his generous support of liberal causes, politicians, lobbying efforts, and media organizations. The website DiscoverTheNetworks.org has compiled an eye-opening list of many dozens of groups funded directly or indirectly by George Soros and his Open Society Institute. Among the recipients of Soros’ millions are or have been:
– Air America Radio (now defunct),
– American Federation of Teachers,
– American Immigration Law Foundation,
– American Institute for Social Justice,
– Arab American Institute,
– Center for American Progress,
– Democracy Alliance,
– Feminist Majority,
– Immigration Advocates Network,
– Media Matters for America,
– National Council of La Raza,
– Planned Parenthood,
– Southern Poverty Law Center,
– Think Progress,
– Tides Foundation, and
– The Democratic Party, among many others.
A Fox News report in 2014, prior to the mid-term elections, noted three other significant organizations supported generously by George Soros — groups that mainstream media coverage failed to identify as benefiting from the billionaire’s funding.
The Center for Public Integrity has received $2,716,328 from Soros’s Open Society Foundations since 2000.
…the Center for Responsive Politics…has received $725,000 from Soros’ foundations since 2000.
…the Soros-funded Sunlight Foundation…has received $1,377,066 from Soros’s foundations since 2008.
But now, according to a report by Bloomberg Business, George Soros “may face a monster” that could take a huge bite out of his fortune, cutting deeply into the amount of money he has to shower upon his far-left friends. That ravenous “monster,” according to Bloomberg reporter Miles Weiss, is a massive tax bill that might rear its ugly head as a result of the 84-year-old mega-donor’s use of a loophole that has allowed him to defer billions in taxes.
Because Congress closed the loophole in 2008, hedge fund managers such as Soros have been ordered to pay up by 2017 in accordance with applicable tax rates. “Applying those rates to Soros’s deferred income would create a tax bill of $6.7 billion,” Weiss wrote.
Ironically, as Fox News points out, Soros has long advocated for higher taxes on the wealthy, even as he took advantage of a U.S. law that allowed him to defer paying his own “fair share” to Uncle Sam. He also apparently tried to move a lot of his money offshore to avoid having to cough up a huge wad of dough as a result of the tax loophole’s closure by the Congress.
“…Soros moved assets shortly before the change to Ireland, seen as a possible shelter from the law. But tax attorneys told Bloomberg they don’t know of a way for money managers to avoid the bill in 2017,” the Fox News article states.
It will be interesting to watch for any political favor the White House might be able to do for Soros concerning his lurking monstrosity of a near-$7 billion tax bill, especially in light of the alliance Western Journalism recently told you about with regard to Soros’ support of President Obama’s amnesty for illegal immigrants.
What do you think about George Soros calling for the wealthy to pay higher taxes while reportedly doing all he can to avoid paying his own? Let us know by commenting below.