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Danilo_G
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?
RosieG

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?

Posted - February 24, 2020
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Responses


  • 34665
    No. Those are not tax deductable expenses. 
      February 24, 2020 5:14 AM MST
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  • 113301
    Thank you for the info m2c and Happy Monday to thee. So running for prez expense is not tax deductible. Should it be?
      February 24, 2020 5:27 AM MST
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  • 34665
    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. 
      February 24, 2020 5:34 AM MST
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  • 113301
    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.
      February 24, 2020 5:40 AM MST
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  • 34665
    Because anything political is not deductable. It is a way of fightinh corruption. 
      February 24, 2020 5:44 AM MST
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