Super PACs Are Super-Fly! ProPublica Rocks an Explanation of Unrestricted Cash

SuperPACsOver the past few months, newspapers, magazines and the Internet have been crammed with stories about super PACs. On the bright side, an ever-larger portion of the voting public has become aware of that the political system has a big, fat loophole that allows unlimited, almost-unrestricted campaign funding. In fact, notable PAC superstars like Sheldon Adelson, Foster Friess and Frank L. VanderSloot have become, if not household names, at least well-known for their contributions to the political process.

Unfortunately, despite the best efforts of Jon Stewart and Steven Colbert -- not to mention much of the news media -- there still seems to be some widespread confusion about how exactly super PACs work, and how they came into being. Recently, investigative journalism website ProPublica and educational music company Explainer Music took the Schoolhouse Rock tack, creating "Oh, Super PACs," a 1970s Super Fly-style video that explains how super PACs are funded. Take a listen:




Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.

Getting Divorced

If you're going through a divorce, taxes may be the last thing on your mind, so we're here to help. We've got tips for you on which filing status to choose after the divorce, who can claim the exemptions for the kids, and how payments to an ex-spouse are treated for tax purposes.

Read More

Brought to you by TurboTax.com

5 Tax Tips for Single Parents

Filing taxes as a single parent requires coordination between you and your ex-spouse or partner. Usually the custodial parent claims the child as a dependent, but there are exceptions. A single parent is allowed to claim applicable deductions and exemptions for each qualifying child. Even though you claim your child as a dependent, she may still have to file her own tax return if she has income, such as from an after-school job.

Read More

Brought to you by TurboTax.com

7 Requirements for the Child Tax Credit

The Child Tax Credit can reduce your tax bill by as much as $1,000 per child, if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit.

Read More

Brought to you by TurboTax.com

Guide to Filing Taxes as Head of Household

The IRS has provided a series of guidelines to help taxpayers understand whether or not they qualify to file as head of household.

Read More

Brought to you by TurboTax.com
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.