- Days left

Super PACs Are Super-Fly! ProPublica Rocks an Explanation of Unrestricted Cash

×
SuperPACsOver the past few months, newspapers, magazines and the Internet have been crammed with stories about super PACs. On the bright side, an ever-larger portion of the voting public has become aware of that the political system has a big, fat loophole that allows unlimited, almost-unrestricted campaign funding. In fact, notable PAC superstars like Sheldon Adelson, Foster Friess and Frank L. VanderSloot have become, if not household names, at least well-known for their contributions to the political process.

Unfortunately, despite the best efforts of Jon Stewart and Steven Colbert -- not to mention much of the news media -- there still seems to be some widespread confusion about how exactly super PACs work, and how they came into being. Recently, investigative journalism website ProPublica and educational music company Explainer Music took the Schoolhouse Rock tack, creating "Oh, Super PACs," a 1970s Super Fly-style video that explains how super PACs are funded. Take a listen:




Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.

Increase your money and finance knowledge from home

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

TurboTax Articles

Employer Sponsored Health Coverage Explained

The Affordable Care Act, also known as Obamacare, is simpler than some people may give it credit for. The basic rule to remember is that everyone must carry Minimum Essential Coverage (MEC) or pay a penalty. Employers with 50 full-time employees or more are obligated to sponsor plans for their workers to help them meet this requirement.

How to Report RSUs or Stock Grants on Your Tax Return

Restricted stock units (RSUs) and stock grants are often used by companies to reward their employees with an investment in the company rather than with cash. As the name implies, RSUs have rules as to when they can be sold. Stock grants often carry restrictions as well. How your stock grant is delivered to you, and whether or not it is vested, are the key factors when determining tax treatment.

What is a Schedule Q Form?

The Internal Revenue Service (IRS) has two very different forms that go by the name Schedule Q. One of them is for people who participate in certain real estate investments; this is known as a Form 1066 Schedule Q. The other Schedule Q deals with employer benefit plans. It?s not something an individual taxpayer would normally have to deal with, though a small business owner might need it.

Incentive Stock Options

Some employers use Incentive Stock Options (ISOs) as a way to attract and retain employees. While ISOs can offer a valuable opportunity to participate in your company's growth and profits, there are tax implications you should be aware of. We'll help you understand ISOs and fill you in on important timetables that affect your tax liability, so you can optimize the value of your ISOs.

Add a Comment

*0 / 3000 Character Maximum

5 Comments

Filter by:
nklswrth

We, the people, were sold out by the US Supreme Court's decision to allow Super PAC's to take over election campaigns!. The naming rights to the White House are now in the hands of the biggest corporate Super PAC underwriters. Welcome to the VanderSloot Oval Office. For an additional contribution you can spend a night in the Adelson-Lincoln Bedroom. Care for tea with the President in the Friess Rose Garden? What's next, Joe Camel logos on the side of the Predident's limousine? BP Green Air Force One?

March 21 2012 at 8:59 AM Report abuse rate up rate down Reply
oneviewpoint

MORE on Obama-multi-Billionaire George Soros funded propaganda (including the "ProPublica" VIDEO above) being broadcast by AOL/HuffPuff-Bruce Watson:

Soros spending $48 Million funding media organizations:
http://www.theblaze.com/stories/part-2-of-foxs-soros-expose-whys-he-spending-48-million-on-the-media/

http://www.foxnews.com/opinion/2011/05/18/soros-spending-48-million-funding-media-organizations/#ixzz1MjCyQehs

Soros has given $8 BILLION to his "Open Society Foundations":
http://www.foxnews.com/opinion/2012/02/27/george-soros-rich-man-who-is-hated-around-world/

He gave $1 Million to "Media Matters" (a propagandist working closely with Obama's staff)- to target Fox News:
http://www.newsmax.com/Headline/george-soros-fox-glenn/2010/10/20/id/374340

AOL/HuffPuff acts very much like a Super-Pac when it provides - free-of-charge to Obama, all of its poltical propaganda - while trying to dishonestly pass it off as "Finance" "News".

Shouldn't AOL/HuffPuff have disclosed any of this when it tried to sell its readers this Soros-funded VIDEO by "ProPublica".

Anyone got an idea of how much money it would cost to print all these AOL/HuffPuff Obama-propaganda stories, day after day, week after week? How much would it cost for Obama for this "spotlighted" "article" (misrepresented as a "news") in AOL's "Finance" section?

How can any poor Republican Super-Pac compete against this sort of constant deception?

March 21 2012 at 5:03 AM Report abuse rate up rate down Reply
oneviewpoint

Bruce Watson/AOL/HuffPuff are truly Outrageous! What hypocricy! This video is funded by the biggest leftist multi-billionaire "superstar" of them all.

This Obama-propaganda "video" is produced by "ProPublica", a leftist organization founded by multi-billionaires - the Sandler Foundation and radical leftist multi-billionaire Obama-supporter GEORGE SOROS!

"Super-Pacs" are small potatoes - minor players - compared to the web of extreme-left organizations funded by a small group of billionaires. Soros has funded scores of radical-extreme-leftist political groups (his tentacles are everywhere) attempting to radically influence American society, the economy, and state and national elections.

For a quick introduction to Soros' activities see: http://www.foxnews.com/opinion/2011/05/11/dont-hear-george-soros-ties-30-major-news-organizations/#ixzz1M8trgdMt

For an alphabetized (very long) list see: http://www.freerepublic.com/focus/f-bloggers/2625790/posts

There is nothing inherently wrong with anyone exercising their First Amendment rights - but it is obscene for Bruce Watson - AOL/HuffPuff posts to demonize "Super-Pacs", while trying to pull a fast on over on their readers!

And it is particularly hypocritical when Obama now has the biggest Super-Pac himself!

AOL/HuffPuff is a deplorable Obama-propagandist.

March 21 2012 at 2:33 AM Report abuse +1 rate up rate down Reply
fesambay

Super paks are just another way the rich can get richer. get the guys you wnat into office and then roll in the money. cast you bread upon the water...

Super paks must end. Change Con. Only way.

March 20 2012 at 7:54 PM Report abuse -1 rate up rate down Reply
1 reply to fesambay's comment
democracks0

YEAH RICH GUYS LIKE OBAMA IRRITATE ME TOO.

March 20 2012 at 9:12 PM Report abuse +1 rate up rate down Reply