to shield hundreds of millions of dollars in income by claiming tax exempt status. jim angle reports on how it s allegedly being done. republican members on the house ways and means committee want the irs to examine how the aarp rakes in revenues from medical companies that use its names. they re trying to manage these companies to increase their revenue. republican critics note aarp s income just from united healthcare skyrocketed from 2007 to 2009, even as the recession was hitting. from $284 million to $427 million, over a 50% increase. and in 2010, revenues soared to $670 million. aarp avoids taxes on that and other income by classifying it as royalties, also known as passive income. a longtime democratic tax lawyer says the nonprofit group the sierra club offers a perfect example of passive income.
delaying classes. hi, contessa. the logic is pretty clear. you can t get blood out of a turnip. the school board is being forced to try to operate without adequate funding. the board voted eight to one to delay the start of school, not cancel school, but to delay it until the requisite funding is received from the city council. that was done a couple days ago. that s where we are right now. are you saying you have no money if the city doesn t pay? no, that s an interesting there is an interesting funding formula in the state of tennessee, as you well know, and andrea knows as well. education funding in the united states is very complex. so that although the city talks about their contribution is only about 10% of our budget, according to state education funding, if we don t receive the entire 10%, then the state will cut off its funding of memphis city schools. so about $427 million from the state is at stake. councilwoman, what s the
according to state education funding, if we don t receive the entire 10%, then the state will cut off its funding of memphis city schools. so about $427 million from the state is at stake. councilwoman, what s the holdup? i really think the holdup, i have to take my hat off to the president jones for casting the no vote not to delay schools, because we have allocated funds to the memphis city school system. their budget is $1 billion, and some people say 3%, some say 10% of the monies that we give them and if there had been prudent management, there should be no reason whatsoever to delay schools. we want the teachers back in school. we want the children back in school. there has been so much misinformation being