July 31, 2012

LINKS: Destroy Campaign Finance Regulation?

The Atlantic: The Only Way to Fix Campaign-Finance Regulation Is to Destroy It
Over the last four decades, the campaign finance system has become a Rube Goldberg-esque contraption of complex, senseless, and indecipherable regulations. To fix it, new “reforms” (a.k.a. regulations) are routinely proposed, and some are even passed — such as the McCain-Feingold Bill in 2002. But the gush of money into politics continues unabated.

Campaign Finance Institute: The National Parties are Holding Their Own Financially at the Eighteen-Month Mark
According to reports filed with the Federal Election Commission on July 20, the two national committees and four congressional committees had raised a combined total of $792 million in the eighteen months between January 1, 2011 and June 30, 2012.

The Hill: Anxious Obama Campaign Plans High-Dollar Fall Fundraising Spree
Asked whether Obama would shift to do more fundraising or host more rallies in the coming weeks,  a campaign official – careful not to get ahead of the president’s schedule – said to “expect a balance of events, a combination of different kinds of events” for the foreseeable future.

The Texas Tribune: Senate Runoff Race Spending Topped $45 Million
Both Dewhurst and Cruz raised nearly $8 million each. Factoring in loan repayments, Dewhurst supplemented his war chest with $19 million of his own money, $8 million of which he has invested since July 12. Cruz contributed more than $1 million of his money to his campaign, including $250,000 he added in earlier this month.

CBS News:  Top 10 Super PAC donors through June
Adelson and his wife, Miriam, gave the pro-Romney Restore Our Future $10 million in June. During the primary campaign, the Adelsons and their children bet heavily on Newt Gingrich, giving the pro-Gingrich Winning Our Future $21.5 million; $5 million was refunded in May.

Politico:  How Corporate PACs handle Bad PR
“It makes good sense on everyone’s part for a company PAC to suspend campaign money during a period of scrutiny or a period of investigation,” Gonzalez said. “What I look for is whether the company is accountable for its mistake, assumes responsibility and takes substantive measures to correct it. Then I’ll make a decision about accepting support.”

Center for American Progress Action Fund: Romney Tax Plan: Many Happy Returns for Big Oil
The world’s five biggest public oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell—would keep special tax breaks worth $2.4 billion each year. And by cutting corporate tax rates, the Romney plan could lower the companies’ annual tax bill by another $2.3 billion, based on an analysis of the companies’ tax expense for 2011. The special tax breaks, supplemented by Gov. Romney’s lower corporate rates, could benefit the oil companies by more than $4 billion annually.

  • jacklohman

    A not-well-known clause of the Constitution (Article III) allows congress to set its own rules for salaries and campaign contributions, but no congressman wants to go there. They like the system broken, and like that they can blame the Supreme Court for their woes. And most political bribes filter down to the mainstream media, so don’t expect them to fight the corruption.

    U.S. Constitution Article III, section 2, clause 2:

    “In all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party, the supreme Court shall have original Jurisdiction. In all the other Cases before mentioned, the supreme Court shall have appellate Jurisdiction, both as to Law and Fact, with such Exceptions, and under such Regulations as the Congress shall make.”

    It limits congressional election control to congress itself — and not the co-equal Supreme Court — and today’s congress has the power to ignore or reverse Citizen’s United and even the 1976 Buckley v. Veleo decision as it relates to congress taking cash bribes. That is, IF it wants to!!!

    We have three co-equal branches of government, not one over the other!

    The Court cannot control congress OR the executive branch. These co-equal branches can set their own rules of conduct. See http://moneyouttapolitics.org for more details.

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