New Money Laundering Opportunity hidden within the Pension Bill

[cyberpj]

Here's a way for rich old republicans (read Mom and Pop Bush) to continue to move their money through the system and donate it to their favorite charities (like son Neil's education business -- and probably Scholastic too.)

I think they give to the charity and the charity gives to the proper business.
They save it tax free,
they donate it tax free,
their BFEE businesses get it tax free.
Can't beat that.

I found the following info way down deep in this article in my local paper. People don't realize the little tricks they're pulling to make and keep money away from the rest of us. Neither does our darilng opposition party. If you look deep enough, I'll bet there's a fortune moving around this way, just another way to launder the money.

snip...
Earlier this month, President Bush signed a pension reform bill requiring donated clothing and household items to be in "good" condition in order to be eligible for tax deductions.

snip...
In addition to tightening the rules for deductions, the provisions also allow taxpayers 70 or older to withdraw up to $100,000 a year from an IRA without paying a tax if the money is donated to a charity. The break is temporary, though, and expires at the end of 2007. (hint: that's so he can use it but not the next guy.)

Bush. You just gotta hate him don't ya?


http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20060901/NEWS/609010362