Discussion»Statements»Rosie's Corner» Does Bloomberg get to take a tax writeoff for what he spends on trying to be the Dem candidate for prez? Or does he just eat the loss?
No. Also any donations given to a candidate or PAC are not deductable.
They should not be either. Can you imagine those who would run just for the right off? And if they are not a current office holder, they are allowed to pay themselves from campaign funds. So if it were deductable it would serve as a tax havens for some. Gives me a headache just thinking about it.
I didn't expect that contributions could be written off. That would make no sense. But money out of your pocket? You can deduct expenses you incur trying to get a job I believe. Why would that be any different? Thank you for your reply m2c.