Real reason for new arrangement (page 2)

Vanderhoven7

Where is there info on the WTS forgiving loans?

Splash

Vanderhoven, this is the instruction in the BoE letter which describes this new arrangement.

Essentially, the loans are all forgiven but the WT asks the elders to make a monthly donation instead. The recommended amount for this donation is at least the same as the loan repayment value was.

Splash

daringhart13

Irony......money given to them as donations, then being used as loans for them to collect interest on.

Yeah....irony.

You can't say that the WTBTS are forgiving anything when, instead of expecting a few Kingdom Halls to pay back money, they are now requiring ALL Kingdom Halls to give manditory donations in larger amounts.

It seems to be a dangerous and hypocritical case of Matthew 18:23-35.

skeeter1

Personally, I think it mainly has to do with a shell game. Turn a 5 year outstandign loan into a perpetual giving arrangment.

As a charity, they don't pay taxes. But, if the IRS/other governments wanted to try to reclassify them as either a "for profit" company or as a 'foundation' becuase a large majority of their business structure was lending money for interest and amassing real estate and cash. It isn't soup kitchens and half-way houses to help the poor. As a for profit entity, they would fall under alot of banking rules and the interest revenue would be taxable. As a foundation, interest revenue is taxable. So, I think the WTS is afraid the government (either US or otherwise) is going to reclasify them. To protect the interest stream, best to make it/call it something else.

Beth Sarim

i really don't think that the government can reclassify the Borg as a taxable system, but I think they could be padding themselves for an onslaught of lawsuits about sexual assault.

AndDontCallMeShirley

The WT has not charged interest on loans for several years now. They quit for the reasons skeeter posted above.

Also, with the new arrangement, the WT has turned what were fixed loans with a payoff date in view into payments that have no end. The "donations" that the congegations obligate themselves to in lieu of their former loan payment are, for all intents and purposes, permanent.

The reason the congregation publishers do not understand the arrangement is because they are read only one of the three pages the letter contains. The elders are under strict orders to not fully disclose all the information to the congregation:

"This postscript should not be read to the congregation, and this letter should not be posted on the information board."

.

As per the BOE letter outlining the new arrangement:

"What amount should be used for this new resolved monthly donation? The elders in congregations currently making loan repayments would likely propose a resolution that is at least the same amount as the current monthly loan repayment..."

AndDontCallMeShirley

@ Beth Sarim: i really don't think that the government can reclassify the Borg as a taxable system

.

The government can and will when justified.

The reason the WT went to a donation-only arrangement for literature is because the government filed suit against Jimmy Swaggert by determining he was operating a taxable enterprise under existing laws. WT supported Jimmy Swaggert in this case, and when he lost, WT immediately discontinued charging for literature so as to not suffer the same fate.

BackseatDevil

Here's something funny:

In Roman times, a call would go out to bid on who would win the contract to collect taxes for a certain area. The wealthy or predominant men of the town would bid and whoever made the highest bid won. Now, the winner would assure Rome that they would receive an agreed upon amount of money however often (monthly, yearly). Once that was assured, Rome had no concern as to how much the tax collector charged the town's people... as long as Rome got their money. The tax collector would then over charge in order to turn a profit.

This is why tax collectors became listed among “sinners” as they were cheaters and swindlers.

NOW, does this arrangement seem ODDLY FAMILIAR??

Real reason for new arrangement

Share this