What if Corporation ABC creates a foundation under 501(c)(3) of the tax code? And contributions by the corporation to the foundation are tax deductible and the foundation itself is exempt from taxation? Conceivably ABC could lower their tax bill significantly by plowing excess profits into the foundation?
ADDENDUM: I've been criticized in other threads about my posting of Pat Buchanan columns. OK, if you don't like Pat, you may also have an aversion of
Father George Rutler. I've listened to him on TV and wondered where he wrote his essays. Now I know. This man (priest) is not a shrinking violet that many in Holy Mother Church have turned into.
The article deals with the current state of affairs and the Catholic perspective. Some may read it and ponder its words. Others will read it and ignore it, and others won't read it because it disagrees with their thinking. Your choice.