Senator Chuck Grassley of Iowa has questioned the legitimacy of the
George Kaiser Family Foundation. The Kaiser Foundation is controlled by Obama sugar daddy and Solyndra investor George Kaiser. As reported on this blog the foundation has allowed Kaiser to become extremely wealthy while paying virtually no taxes.
“The government didn't’t just lose out on its investment through the $535 million loan guarantee,” Grassley said yesterday at a Senate Finance Committee hearing. “It also lost out on the tremendous subsidy it provided the George Kaiser Family Foundation through the charitable contribution deduction.”
The so called charitable trust while valued at $4 billion has donated only $215.4 million to charity in the last three years. It is particularly poignant that while Obama is urging higher taxes on the wealthy, "millionaires and billionaires who need to pay their fair share" George Kaiser, an Obama campaign bundler and recipient of Department of Energy largess pays less personal taxes than Warren Buffet's secretary.
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