gotta have it! - weeblyfulksgov.weebly.com/uploads/1/3/8/8/13887839/money_and... · 2020. 1....
TRANSCRIPT
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Gotta have it!
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Money!!
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People running for office
Individuals
Political Action Committees (Interest Groups)
Political Parties
527s (non taxable organizations) or charities
Super PACs
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Will candidates “buy” their way into office? ◦ Nixon was so shady in his
financial dealings that the Federal Election Commission was created
◦ (2 million from one donor)
Will special interest groups try to buy favors?
Does this bring corruption to elections?
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Campaigns are expensive!
Presidential candidates have to pay for ◦ Primaries (speeches, commercials, traveling)
◦ Conventions (all those balloons!)
◦ The Presidential campaign (speeches, TV commercials, fancy suits and haircuts, paying employees, airfare, food, hotels, fuel, brochures, communication, pollsters, private consultant, speech writers etc.)
◦ A 30 second commercial can cost $50,000 or more!!
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http://www.washingtonpost.com/wp-
srv/special/politics/track-presidential-
campaign-ads-2012/
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Because money equals influence ◦ Get the candidate you agree with elected
◦ Get a friend into office
◦ Get laws passed the way you want them
◦ Get laws repealed
◦ Access to the government
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The FEC: Federal Election Commission ◦ 6 people that oversee all campaign spending
(appointed by Pres., with Senate confirmation)
◦ http://www.fec.gov/
◦ All of this is thanks to Nixon
I’m the man!
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1. DISCLOSURE REQUIREMENTS
Contributions must be made through a single committee that reports all the
contributions in a “timely matter.” (usually 48 hours)
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2. LIMITS ON CAMPAIGN CONTRIBUTIONS
I thought money
didn’t grow on
trees?!?
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3. LIMITS ON CAMPAIGN SPENDING (EXPENDITURES) Buckley v. Valeo, 1976: money = freedom of speech (so presidential candidates can contribute as much $ as they want to their own campaigns, unless they accept federal matching funds).
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4. PROVIDE PUBLIC FUNDING (TAX DOLLARS) FOR PARTS OF THE ELECTION PROCESS
The government gives money to pre-convention campaigns (if you raise over 100,000 and they will only match private donations)
• national conventions (they get grants to cover the ENTIRE convention)
• Presidential election campaigns (if candidates refuse the money, they can raise as much as they want from private donors- but if you take it you can only spend as much as the subsidy and can’t take from any private sources. MOST refuse today!)
• You are only eligible if you have won 5% of the popular vote. (so you have to be popular already in order to get more $)
• This money comes from US (we check a box on our federal income tax forms to give $3 to the process).
◦ http://www.fec.gov/finance/2004matching/matching.sht
ml
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I’ll take that federal
matching money, thank
you very much!
http://www.youtube.com/watch
?v=KDwODbl3muE
http://politicalhumor.about.com/b/
2004/01/21/howard-dean-
scream-remixes.htm
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Hard Money: ◦ Raised and spent to
elect candidates for the White House and Congress
◦ HARD to raise
◦ Can be traced, FEC keeps track
◦ Legal
Soft Money: ◦ Funds given to party
organizations for such “party-building activities” as candidate recruitment, voter registration drives, etc.
◦ Unreported to FEC, unlimited, filtered illegally back to candidates
◦ Has been banned since 2002 (still happens!)
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Sponsored by John McCain and Russ Feingold
Bans soft money contributions
Became effective November 6, 2002
The law also limits issue advertising within 60 days of a general election or within 30 days of a primary election
A commercial that discusses a topic but does not favor a particular candidate
Too bad soft money still keeps
flowing! These darned
loopholes in the law!
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Pros of CFR Keep rich people from too much power
Limit corruption One person = one vote
Cons of CFR Money is free speech Still has loopholes Hard to regulate
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Watch a video to answer this question.
http://learning.blogs.nytimes.com/2012/05/22/follow-the-money-understanding-super-pac-spending/
Are Super PACs good for our democracy?
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http://www.youtube.com/watch?v=E5IEEv4RVIc&feature=youtu.be
Do you agree/disagree with any of his points? Explain.
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What do you
think? Is it
better to get a
lot of small
donations
from lots of
people, or to
get fewer but
larger
donations?
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Isn’t this supposed
to be a democracy,
where everyone is
equally as
important? Yeah, but I
guess those with
money are just
more equal than
the rest of us!
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B
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C.
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D.
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Last night, you read the Supreme Court’s opinions about the BCRA in 2003. Now you will read what changed in 2010. Make sure you answer the questions at the end of the article. Tomorrow we will have a short seminar on the two articles.