Koch Brothers, Worth $50 Billion, Sue Widow Over $16.00 of Nonprofit’s Stock (Secret Owners of Cato)

[freefall]

8. Thanks for posting this, stockholmer.

Wouldn't it be wonderful if the IRS pursues this and all those folks who have been donating for years had to file amended returns because Cato is deemed to have violated the legal requirements of a 501(c)(3)?

To me that would be the best outcome this situation could possibly have. Based on the information in the article Cato has definitely been in violation. Whether or not the IRS will follow through remains to be seen.

Hopefully, Cato is already losing its reputation as a truly nonpartisan, libertarian organization:

http://www2.macleans.ca/2012/03/19/the-billionaire-koch-brothers-want-the-cato-institute-to-bolster-the-republican-party/

"Some libertarians have been outraged by the attempt to force Cato into a more Republican-friendly posture; Julian Sanchez, a Cato fellow, wrote a “pre-signation” letter announcing he would leave if the Kochs succeed: “I’ll be sad to go, if it comes to that, but sadder to see a proud institution lose its autonomy.”

To be continued.