I don’t know why you would think tha assessment has any credibility. You aren’t going to know what they have and frankly that isn’t relevant to taxation as we don’t tax wealth.
Why? We don’t assess anyone’s wealth because that’s insanely hard to do and is why every wealth tax that gets adopted eventually gets dropped.
What right do we have to know what a foreign nation, which the Vatican is, has?
Why would you want government workers to decide what is and is not acceptable for a Church? This is literally why the Congregationalists moved to Plymouth.
My point is that, in the US, other organizations that accept charity have to produce documentation detailing their spending. Religious organizations should be held to the same standard.
Because those things are related. If you don’t spend all your revenue, you end up accumulating wealth - that’s profit. Which is directly in contradiction of being a nonprofit entity.
The wealth a church has can be derived from gifts which aren’t revenue and aren’t profits. For example when my local bishop died he gave the diocese his collection of first edition theological texts. Those books have value and this are wealth but zero profit is gained by having them because they aren’t being sold.
At no point was I “incorrectly pedantic” you seem to just not know the difference between wealth and profits which is odd considering the claims you have made about your academic background.
I don’t know why you would think tha assessment has any credibility. You aren’t going to know what they have and frankly that isn’t relevant to taxation as we don’t tax wealth.
We don’t, but civilized countries do.
Would be nice if we had some kind of visibility into that, huh?
Why? We don’t assess anyone’s wealth because that’s insanely hard to do and is why every wealth tax that gets adopted eventually gets dropped.
What right do we have to know what a foreign nation, which the Vatican is, has?
Why would you want government workers to decide what is and is not acceptable for a Church? This is literally why the Congregationalists moved to Plymouth.
My point is that, in the US, other organizations that accept charity have to produce documentation detailing their spending. Religious organizations should be held to the same standard.
Their spending not their wealth yet you brought up wealth not spending.
Because those things are related. If you don’t spend all your revenue, you end up accumulating wealth - that’s profit. Which is directly in contradiction of being a nonprofit entity.
Profit is the revenue you have left after your expenses. Profits can become wealth but wealth is not profits.
If you can’t understand the above you should be asking questions more than making definitive statements.
The fact that you think this contradicts what I said really speaks to your reading ability.
Is the same as what I said
Now go be incorrectly pedantic somewhere else.
The wealth a church has can be derived from gifts which aren’t revenue and aren’t profits. For example when my local bishop died he gave the diocese his collection of first edition theological texts. Those books have value and this are wealth but zero profit is gained by having them because they aren’t being sold.
At no point was I “incorrectly pedantic” you seem to just not know the difference between wealth and profits which is odd considering the claims you have made about your academic background.