There are many organisations which are exempt from paying tax on their earnings. Tax exemption is usually granted to what are known as ‘non-profit’ organisations.
The very moniker should describe accurately the fact that these companies make no profit on their activities. Yet around the world, and in The USA in particular, there is
an underlying theme of organisations which are in effect ‘companies’ and these ‘companies’ are in ‘business’ to make a profit, yet they are exempt from paying tax.
Below is an article which caught my attention a while ago. After reading it, I realized that the government/IRS or whoever is responsible for overseeing the financial
standing of these ‘businesses’ are either: blind, deaf, stupid, greedy, corrupt or inept. Or maybe all.
Since the dark ages,the days of the crusades, and the Roman Empire, the church has always been at the centre of civilizations. Today the church is not so different in stature,
but is vastly different in definition. The church is one of the wealthiest organisations in the world. whether that be, the Catholic, Evangelical, Scientologist, Mormon, to
name but a few. These organisation generate $billions every year but are ‘classified’ as non-profit organisations. The list contains organisations which you and I would class
as businesses. The NFL. Football is one of the biggest, if not the biggest sport in the USA, and even advertising products during NFL games generates vast sums of money.
(The following information comes courtesy of www.Adage.com (AdvantageAd).
Given these type of figures and the enormous salaries top players command, where does this income come from? and why is it not treated as taxable income, like your salary or my salary?
(Courtesy of Forbes magazine)
It is made up of all the merchandising, endorsements, attendance gate receipts, TV rights etc…, and you don’t need to be a genius to work out that this is a business.
How can they in any shape or form be classified as a ‘non-profit organisation’?
It would seem to me that this is just another part of the ‘establishment’s hold on the ‘affairs of the country’ This control filters down for the government at the top level, to the business executives, church leaders, law firms and associations (lawyers play an integral part of this whole system, by defining the conditions whereby these entities operate), the media, and any other entity which stands to gain from this current status quo.
I found a definition of non-profit organisations. Where do most of these companies serve a public benefit over making a profit for themselves and their investors?
I am not a very political person, but it seems to me that ‘the system is being milked’ by whatever means possible, without thought of right or wrong, moral or immoral. This will not change until attitudes change. Don’t hold your breath!!