Political Campaign Contributions Of The United States Essay

Political Campaign Contributions Recently in the U.S., the most frequent mentioned topic would be 2016 presidential election. People on both sides have donated to political campaigns from the very beginning. And one of the concerns is that can campaign donors write off any of these contributions on their federal income taxes? According to the IRS, the answer is a very clear NO. â€Å"You can’t deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate aren’t deductible,† informed in IRS Publication 529 (Political Contributions, 2015). It is also non-deductible for any of the portions of dues to lobbying or political activities. Public funding of Presidential elections means that qualified Presidential candidates receive federal government funds to pay for the valid expenses of their political campa igns in both the primary and general elections. Most political contributions, for the obvious reason of creating a more politically disinterested tax system, are not tax deductible. Political contributions and its limit have a long history and evolution process. In 1896, an Industrialist named Mark Hanna made excessive amount of contributions to candidate William McKinley. It was controversial of the growing influence of big business in American politics. 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