IRS To Take On Karl Rove? Tax Laws Could Take A Bite Out Of Secret Political Spending
WASHINGTON — Top Republican political strategist Karl Rove’s method of secretly funneling unlimited contributions from big donors was so hugely successful in the 2010 campaign that Democrats are now trying to copy it. But his model may yet end up backfiring spectacularly.
In one scenario, groups like Rove’s Crossroads Grassroots Political Strategies could find themselves subject to massive fines, ranging as high as 35 to 70 percent of the money they received in secret donations.
In another scenario, their deep-pocket donors could be hit by a 35 percent tax on their contributions.