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Monday, May 02, 2011

This is a Great Idea…

I think donations to candidates running for public office should be tax deductible. I also think the limit should be $50 per candidate per person. I also think each person should have a limit of $200 per year.

I also think local candidates should have a higher limit, as they are more important to each person’s daily lives.

I also think there should be free media for all candidates that have over 2% of the polling or at least enough signatures. There has to be a fix!

If you live in Virginia, like me, you should realize there is a Political Contributions Credit.

When you file Virginia Tax Returns, a Political Contributions Credit is available to individuals who make contributions to candidates for state or local political office. The credit is 50% of the amount of the contribution, subject to a $25 limit for individuals and a $50 limit for married taxpayers filing jointly. Remember, every little bit counts! This is not for Federal Tax Returns though.

We are getting there; we need many more controls on all the money being spent by politicians.

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