Money and Campaigns. Two competing interests... 1.We don’t want elections to be purchased by the...
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Transcript of Money and Campaigns. Two competing interests... 1.We don’t want elections to be purchased by the...
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Money and Campaigns
Two competing interests . . .
1. We don’t want elections to be purchased by the highest bidder
2. We want to be able to financially support candidates we agree with
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Money and Campaigns
Watergate – 1972
President Nixon uses money from large contributors to cover-up involvement in the break in.
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Money and CampaignsI. Federal Election Campaign Act – 1974
A. Two goals:1. Tighten reporting of contributions2. Limit spending
B. Created the FECC. Created the Presidential Election Fund
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Money and Campaigns
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Money and Campaigns
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Money and CampaignsI. Federal Election Campaign Act – 1974
A. Two goals:1. Tighten reporting of contributions2. Limit spending
B. Created the FECC. Created the Presidential Election FundD. Provided public funding for presidential
primary campaigns
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Money and Campaigns
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Money and CampaignsI. Federal Election Campaign Act – 1974
D. Provided public funding for presidential primary campaigns
1. To qualify for primary matching funds, candidate must have to have raised at least $5,000 in 20 states
2. The federal government will match contributions of up to $250
3. Candidates then agree to limit their spending
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Money and CampaignsI. Federal Election Campaign Act – 1974
D. Provided public funding for presidential primary campaigns
4. Most candidates now forgo (since George W. Bush in 2000)
a. Can raise more money on their ownb. Don’t want to limit expenditures
E. Provided public funding for the general election
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Money and Campaigns
Senator Barack ObamaDemocrat
$750,000,000
Senator John McCainRepublican
$84,100,000
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Money and Campaigns
President Barack ObamaDemocrat
$1,230,000,000
Governor Mitt RomneyRepublican
$1,019,000,000
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Money and Campaigns
2012 Campaign Spendinghttp://elections.nytimes.com/2012/campaign-finance
http://demonocracy.info/infographics/usa/political_spending/2012_elections.html
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Money and CampaignsI. Federal Election Campaign Act – 1974
D. Provided public funding for presidential primary campaigns
4. Most candidates now forgo (since George W. Bush in 2000)
a. Can raise more money on their ownb. Don’t want to limit expenditures
E. Provided public funding for the general election
F. Required full disclosureG. Limited contributions
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Money and CampaignsI. Federal Election Campaign Act – 1974
H. Buckley v. Valeo – cannot limit the amount a candidate contributes to his own campaign
I. Soft money – money raised general party activities
1. Not subject to contribution limitations
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Money and Campaigns
II. McCain-Feingold – 2002 (BCRA)A. Banned soft moneyB. “hydraulic theory of money and
politics”C. 527s
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Money and Campaigns
III. Political Actions Committees (PACs)A. May channel up to $5,000 per
candidateB. Must report all contributions and
expenditures to the FEC
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Money and Campaigns
Doctrine of Sufficiency
Candidate “A” Candidate “B”
$$
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Money and Campaigns
Doctrine of Sufficiency
Candidate “A” Candidate “B”
$$
Sufficient to get message across and compete