Patriot Majority USA, a social welfare nonprofit, told the Internal Revenue Service that its mission is “to encourage a discussion of economic issues.” In exchange for keeping its donors private and paying fewer taxes, it must limit its involvement in politics.
Australian Prime Minister Julia Gillard yesterday unveiled a plan to boost education spending by A$14.5 billion ($15.2 billion) over six years in what she called the biggest overhaul of school funding in 40 years.
Australia, which is introducing some of the toughest anti-smoking laws in the world, invested A$147.7 million ($148.2 million) in shares of tobacco companies including British American Tobacco Plc to pay for politicians’ retirement.
Sean Noble, a former congressional aide, had an account ready when the U.S. Supreme Court ruled in 2010 that corporations could join wealthy donors and spend freely in federal elections. In less than a year, he had $62 million at his disposal.