New Tax Penalty on Non-Profits with Employees Making Million Dollar Salaries (healthcare, dollars)
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The new provision pours some cold water on million dollar salaries at nonprofit organizations.
...
Earlier this year, the Wall Street Journal combed through the most recently available IRS data and found that 2,700 employees at U.S. nonprofits were paid more than $1 million in 2014. All indications are that the number has grown even more since then.
...
So what is the new tax law going to do about it?
Every organization that pays a salary of more than $1 million per year to any of its top five earning employers will face a stiff new 21 percent excise tax. That means any nonprofit-designated charity, college, and hospital that routinely asks us for donations, or charges expensive tuition or medical bills will have to justify paying those high salaries against a hefty new tax.
Now I want to see who is going to complain about this one.
This hits organizations such as hospitals, colleges, religious organizations, 78 college football coaches make over $1 million in salary
With increasing medical bills and tuition costs - it makes no sense for non-profits to be paying that much in salary.
I actually think this is great. It's like something liberals would do.
According to the WSJ article referenced, the top nonprofit compensation packages seemed to be going to university-related and hospital-related executives.
Leave it to a strong business man and leader to close some of the business tax loopholes. But even though this is something leftists have wanted, they will complain anyway just because it came from Trump. Of course, had it come from Obama, they would have celebrated it as though it were the best thing to ever happen to this country.
Y'all really do think that the President's job is to create laws, don't you?
You realize that all this -- for better or worse -- came from Congress?
I don't have any complaints but I must admit to a certain amount of confusion.
I thought that the GOP was pro-compensation as in if you work hard you deserve to be well-paid for your efforts.
People constantly defend high salaries and golden parachutes for people in the finance industry and the like, so why pick on the non-profits, many of whom hire the very same people as have worked in private industry?
Or is this only for non-profits that the GOP doesn't like?
It just shows how wrong you are about the GOP, doesn't it?
Gee, is there anything ELSE you may be totally wrong about?
Non-profits acting as shakedown and slush fund organizations is an open secret in Washington DC. Joe Biden recently started a non-profit foundation of which slobbering liberals were stumbling all over themselves to give Biden accolades for focusing on equal rights. But the rest of us know that the Biden Foundation will be nothing more than a shakedown artist who will demagogue companies and the rich to donate under the threat of being "against equal rights." Meanwhile, Joe and Jill will take home huge salaries because - you know - they are The Biden's and are entitled to a comfortable salary. Perfect way to pad your retirement years, right Joe?!
I appreciate any effort by the GOP to reign in these organizations.
It just shows how wrong you are about the GOP, doesn't it?
Gee, is there anything ELSE you may be totally wrong about?
What am I wrong about?
Are you saying that the GOP doesn't believe leaders of industry should be well-compensated?
Is that why they've long argued for profit uber alles, defended corporate raiding (see Romney, Mitt) and now embrace he who *sits* on the golden throne?
Or is it, as I noted earlier, only for those non-profits that they don't like?
You know, the ones that might actually help people and stuff.
Non-profits acting as shakedown and slush fund organizations is an open secret in Washington DC. Joe Biden recently started a non-profit foundation of which slobbering liberals were stumbling all over themselves to give Biden accolades for focusing on equal rights. But the rest of us know that the Biden Foundation will be nothing more than a shakedown artist who will demagogue companies and the rich to donate under the threat of being "against equal rights." Meanwhile, Joe and Jill will take home huge salaries because - you know - they are The Biden's and are entitled to a comfortable salary. Perfect way to pad your retirement years, right Joe?!
I appreciate any effort by the GOP to reign in these organizations.
Thanks for answering my question.
It would have just as easy to replace Joe and Jill Biden with Mitt and Ann Romney but you didn't.
Tells me everything I wanted to know.
Charities in America are all scams to enrich the executives of the the org. One look at any non-profit books you can tell it is ripping people off and not providing enough services to the ones that need it. There are billions going to charities yet there are still people starving and homeless that's clear sign that the money doesn't go to the needy.
The new provision pours some cold water on million dollar salaries at nonprofit organizations.
...
Earlier this year, the Wall Street Journal combed through the most recently available IRS data and found that 2,700 employees at U.S. nonprofits were paid more than $1 million in 2014. All indications are that the number has grown even more since then.
...
So what is the new tax law going to do about it?
Every organization that pays a salary of more than $1 million per year to any of its top five earning employers will face a stiff new 21 percent excise tax. That means any nonprofit-designated charity, college, and hospital that routinely asks us for donations, or charges expensive tuition or medical bills will have to justify paying those high salaries against a hefty new tax.
Now I want to see who is going to complain about this one.
This hits organizations such as hospitals, colleges, religious organizations, 78 college football coaches make over $1 million in salary
With increasing medical bills and tuition costs - it makes no sense for non-profits to be paying that much in salary.
Win! Finally it gets addressed!
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