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Detailed text transcripts for TV channel - FOXNEWS - 20120708:16:11:00

I.r.s. and the department of labor and property tax records to see how unions spend their tax-free funds and we re standing in front of the westin diplomat here in hollywood, florida. this is a luxury hotel that s actually not owned by donald trump. it s owned by a union. if unions were held to the same standards as other nonprofits they d get a failing grade. according to a study by the illinois policy institute, unions spend less than half of the money they collect in dues on member interests like collective bargaining. instead, labor bigwigs blow money on themselves holding conferences in places like las vegas, the caribbean and right here in fort lauderdale, florida, the grand central of union junkets where in one year, the afl-cio spent $1.7 million in tax-free union funds on conferences. now, the issue is unions are nonprofits meaning they don t have to pay taxes on member dues although they have to pay taxes on their for profit activities like owning a resort hotel. ....

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