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No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 4:36 pm
by Skjellyfetti
If there was any issue that would meltdown this board... I would expect this to be it.
A tax by executive action. On contributions to athletics.
By hook or crook, President Obama would like to eliminate the tax deductions for donors to college sports who use their contributions to get tickets to games.
A month ago, Obama revealed his plan that would no longer let donors deduct four-fifths of the value of a gift made to a school, even if priority seating rights they get in exchange are worth more than one-fifth of the gift’s value. It was thought that Obama’s plan would not likely to become law soon because the constitution gives congress the power to lay and collect taxes, and Republicans, who control congress, were sharply critical of the plan.
But as Robert Wood wrote yesterday, White House Press Secretary, Josh Earnest, says the President was “very interested” in raising taxes through executive action. The President wants to deny tax deductions for donations linked to sports tickets. Many colleges and universities rely on event tickets to goose alumni contributions. Today, if you give to charity and your contribution makes you eligible to buy advance tickets, you can only deduct 80% of your contribution, not 100%. The White House says no part of your donation should be deductible, period.”
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Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 5:00 pm
by SDHornet
Interesting if true. Would cripple a lot more programs then just the top earners. Would also reek more havoc at the large FB schools.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 5:45 pm
by Pwns
Let's say you are a contributor to both a P5 and a mid-major team. If you can't contribute to both without a tax deduction, which do you think that person will sooner do without?
I don't see how this won't hurt mid-majors more.
Non-revenue sports will be cut so Obama can feel like he's sticking it to the fatcats.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 5:48 pm
by SDHornet
Will this also impact business level donors? If so that is where the real pain will come from. Those are the large dollar donors for the non P5 programs.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 6:20 pm
by Skjellyfetti
Pwns wrote:
Non-revenue men'ssports will be cut so Obama can feel like he's sticking it to the fatcats.
FYP.
Gotta keep the non-revenue women's sports for Title IX purposes.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 6:35 pm
by JohnStOnge
Obama acting as a dictator. What else is new?
The issue is a lot broader than just this specific thing about sports donations. We have a serious problem with the person who occupies the Presidency right now. He's an extreme egomaniac who does not believe in remaining within the legitimate bounds of powers granted his position by the Constitution. He apparently thinks the President functions pretty much as a King would.
This guy is the worst. He really is.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 6:40 pm
by Skjellyfetti
JohnStOnge wrote:He's an extreme egomaniac who does not believe in remaining within the legitimate bounds of powers granted his position by the Constitution.
Uhm. You do realize you just described the modern American President in general... not Obama specifically, right?
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 6:47 pm
by Ivytalk
A dumbazz President who wears Mommy jeans to an opening day baseball game and throws the first pitch like a spastic girl has no bidness taxing sports donations. What do you expect from a Muslin Columbia grad?
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 7:12 pm
by kalm
Ivytalk wrote:A dumbazz President who wears Mommy jeans to an opening day baseball game and throws the first pitch like a spastic girl has no bidness taxing sports donations. What do you expect from a Muslin Columbia grad?
IT's on a role tonight!
Have you been dipping into the Weekly Standard again?
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 7:19 pm
by JohnStOnge
Uhm. You do realize you just described the modern American President in general... not Obama specifically, right?
No, I did not. No other President of my lifetime has been like this one is in terms of ego or in terms of being willing to push the envelope of Executive authority.
Unjustified ego by the way. This President is a snarky punk who has no clue but thinks he's the greatest ever. That's about as dangerous as it gets.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 7:30 pm
by Grizalltheway
He's pretty uppity, alright.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 7:33 pm
by kalm
Grizalltheway wrote:He's pretty uppity, alright.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 7:51 pm
by Baldy
kalm wrote:Ivytalk wrote:A dumbazz President who wears Mommy jeans to an opening day baseball game and throws the first pitch like a spastic girl has no bidness taxing sports donations. What do you expect from a Muslin Columbia grad?
IT's on a
role tonight!
Have you been dipping into the Weekly Standard again?
*roll
Compass point school.
Re: No talk about the tax on sports donations?
Posted: Wed Mar 04, 2015 8:32 pm
by kalm
Baldy wrote:kalm wrote:
IT's on a
role tonight!
Have you been dipping into the Weekly Standard again?
*roll
Compass point school.
Ahem…that's the Harvard of the Palouse to you...
Re: No talk about the tax on sports donations?
Posted: Thu Mar 05, 2015 5:20 am
by Baldy
kalm wrote:Baldy wrote:
*roll
Compass point school.
Ahem…that's the Harvard of the Palouse to you...
Correct, it's also the Cosmetology and Truck Driver Training Institute of the Palouse as well.
A fine, well-rounded institution, I'm sure.
Re: No talk about the tax on sports donations?
Posted: Thu Mar 05, 2015 10:37 am
by GannonFan
Dumb article. There's no chance that an executive action could be used in such a way. Heck, there's already considerable doubt that the executive action on immigration, at least the portion of the action that granted new services and benefits as opposed to the part that just would choose not to enfore current legislation, won't survive the courty challenge that is currently blocking it. There's no way the tax code can be changed in such a way without Congressional action, no matter what the press secretary says.