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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKellyanne Conway Just Closed a Million Dollar Deal Thanks to Her Ties to Trump
Full article posted with the permission of Newsweek -- DonBY CHRISTIANNA SILVA ON 9/28/17 AT 5:20 PM
Kellyanne Conway just sold her polling company and got to keep all the funds, thanks to a conflict of interest loophole that let her avoid costly taxes because she belongs to the executive branch.
Before Conway became the first woman to run a successful presidential campaign and slid into her comfortable office in President Donald Trumps White House, she entered politics through the polling business. Over two decades ago, Conway started The Polling Company and Woman Trend, a unit within the company, that tracks social, cultural, financial, professional and health trends affecting women.
She owned her own GOP polling firm all the way through the presidential race, until Thursday, when CRC Public Relations bought The Polling Company/Woman Trend. Terms werent announced, but back in March, Conway estimated the value of her stake at somewhere between $1 million and $5 million.
Conway resigned from The Polling Company/Woman Trend after she accepted her position as counselor to Trumpsomething she had to do because it was a conflict of interest. Bloomberg reported in August that Conway had been taking steps to sell her consulting firm all summer and that she received permission to defer capital gains taxes, which turned out to be another positive impact of being part of the executive branch.
All executive branch employees can defer these kinds of taxes when they are required to sell their assets because of federal conflict of interest laws. Shell be required to invest the proceeds in Treasury bills or widely diversified mutual funds, in order to receive that deferral. So she won't pay any taxes based on any of the proceeds, which makes 2017 one of Conway's highest-earning years ever.
The fewer conflicts of interest people in the White House have, the better off the country will be, Scott Amey, general counsel for the nonpartisan Project on Government Oversight told USA Today. I support the move. I just think you have to question the timing of it and why this wasnt done earlier, he said.
Virginia-based CRC Public Relations, the firm that bought Conways polling company, has worked with: Federalist Society; the Koch Brotherss political advocacy group Americans for Prosperity; Americans for Tax Reform; PhRMA; and other digital conservative advocacy groups as clients, so the move didnt come as a surprise to most.
The Polling Company is a natural fit for CRC," the firm's president, Greg Mueller, said in a statement. "It is an established brand with a strong reputation among conservatives, Republicans, public policy organizations, corporations and associations."
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http://www.newsweek.com/kellyanne-conway-just-closed-million-dollar-deal-thanks-her-ties-trump-673913
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Kellyanne Conway Just Closed a Million Dollar Deal Thanks to Her Ties to Trump (Original Post)
DonViejo
Sep 2017
OP
InAbLuEsTaTe
(24,122 posts)1. What a racket!!
Cracklin Charlie
(12,904 posts)2. What is it that this carbuncle on the Presidency even does?
Trump administration is infested with carbuncles.
Golden Raisin
(4,608 posts)3. She's a professional and shameless liar
and regime propagandist before TV cameras.
ProfessorGAC
(64,988 posts)4. Given Her Penchant For Peddling Obvious Untruths. . .
. . .i think CRC might be buying a fraudulent polling firm. With Conway involved, the notion that they manipulate the sampling and adjust the outcomes is far from unbelievable. Rather, i believe it's damned likely.
ATL Ebony
(1,097 posts)5. Hope you'll spend it all in legal fees and we have the pleasure of seeing you in silver bracelets.