TikTok’s $400 million fine is a slush fund to finance Congress’ PACs
TikTok’s $400 million fine was announced Friday by Todd Blanche, President Donald J. Trump's Attorney General.
TikTok is a social media platform that is 19.9% owned by China.
The money will be paid as a tax deduction to NGOs (non-governmental organizations) instead of a non-deductible federal penalty and fine.
The money trail will show that it ends up with political action committees (PACs) to fund November congressional campaigns.
As a settlement, the $400 million TikTok payment:
bypasses Congress to avoid legal scrutiny
details about who gets the money are not public records.
Friday’s court records confirm the case was dismissed without explanation.
None of the money will be paid to the children who were harmed by disclosure of personal information allegedly protected by federal law.
In fact, in court records, TikTok’s attorneys denied that their client did anything wrong.
https://www.justice.gov/archives/opa/press-release/file/971826/dl
Back in 2016, Congress attempted to close the “Stettlement Slush Funds” loophole by passing this law:
https://www.congress.gov/bill/114th-congress/house-bill/5063/all-info
It died in the Senate on Sept. 8th, 2016, after passing the House on Sept. 7th, 2016.
https://www.congress.gov/bill/114th-congress/house-bill/5063/all-info
More details are in this story posted on June 5th, 2017: