Writing in The New Yorker magazine, Jeffrey Toobin writes: “Campaign
finance operates by shaky, or even nonexistent, rules, and powerful players
game the system with impunity. A handful of I.R.S. employees saw this and
tried, in a small way, to impose some small sense of order. For that, they’ll
likely be ushered into bureaucratic oblivion.”
Also: “It is certainly true that the I.R.S., and every other
part of the government, should be evenhanded in how it applies the law,
regarding liberal and conservative groups alike. If left-leaning organizations
were disguising their true purposes to obtain 501(c)(4) status, the I.R.S.
should have turned them down, too.”
Maybe it did. The detail will likely come out as the matter
is pounded to death by pointy fingers in the coming weeks.
What, if anything, will the issue do to the stock market?
Hard to know, but my guess: Nothing.
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