LewRockwell.com Had To Sever Itself from Its Tax-Deductible Connection Because of the "Ron Paul Problem"
August 6, 2007
Because LRC was an adjunct to the tax-exempt Center for Libertarian Studies, its positive references to Ron Paul's ideas raised a threat of the loss of CLS's tax-exempt status. So, on June 30, LRC "seceded" from CLS. Now donations to LRC are no longer tax-deductible. The details are here:
My view is that LRC is deserving of support, despite the loss of its tax-deduction. The site has become the most heavily trafficked site in the world of anti-bureaucracy ideas. Here is where we go to find out what disaster government has imposed on us lately.
In the world of LRC, every government boondoggle is a potential I-35 bridge waiting to collapse.
By the way, Congress will pay $250 million of future tax revenues and new debt to re-build the bridge. The political lesson here is clear. If a state government wants a brand-new bridge at Federal expense, it can get it by not keeping its risky bridges in repair. "Keep on truckin!"
Government rewards failure. The bigger the failure, the greater the reward.