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The Billion Dollar Race for President

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posted on Sep, 15 2008 @ 05:32 PM
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The billion-dollar race for president

BARACK Obama raised $66 million (£37 million) for his presidential campaign in August, a record-breaking sum which puts the United States on track for its first billion-dollar election.

More...





A Presidential election is now a BILLION DOLLAR industry.

Think about that. I mean *really* think about that.


Incidentally, two additional points:

1) During a time when everyone is presumably hurting for money, isn't it odd this donation number could be achieved?

2) Why did I read this first in a foreign paper? Just curious.



[edit on 15-9-2008 by loam]




posted on Sep, 15 2008 @ 05:48 PM
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I don't see how it seems so impossible..... he's got the liberals in Hollywood tucked firmly in his pocket feeding him everything he needs, plus Oprah backing him, etc. This isn't really any surprise at all.



posted on Sep, 15 2008 @ 06:19 PM
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No wonder the regular American citizen can not longer afford this candidates, but corporate America and the foreign lobbyist body can.

The irony.



posted on Sep, 15 2008 @ 10:47 PM
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reply to post by marg6043
 


But that's the thing. I don't think these are corporate contributions.




The predictions were right about the cash – but wrong about its source. Since 2003, corporations and unions have been forbidden to donate, and people are limited to $2,300 each, thanks to legislation from Mr McCain and a fellow senator. The rules have turned campaign finance upside down, cutting off the oceans of "soft" money that had washed over the two established parties.

The finance rules are tight: money spent on merchandise counts towards an individual's $2,300 limit and those buying T-shirts and banners at both party conventions had to register names, addresses and amounts. The result has been a revolution: money is pouring into politics as never before, but the cash comes increasingly from the voters, not special interests.



[edit on 15-9-2008 by loam]



posted on Sep, 16 2008 @ 12:07 AM
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Originally posted by loam

1) During a time when everyone is presumably hurting for money, isn't it odd this donation number could be achieved?



Yes. Where would people who had to spend their tax rebate on food and gas get $2300 to flush down the toilet? Do you think the donations are fraudulent, like from dead and ficticious people?

I guess it would be hard to sort out who is actually not hurting for money, and who among them donated.



posted on Sep, 16 2008 @ 12:56 AM
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if you do the math, just ten million people with 2300 dollar donations could easily top 20 billion dollars, so one billion only requires a few hundred thousand people.



posted on Sep, 16 2008 @ 12:58 AM
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You know.. its cool when you can buy your slavery.. Really cool.. They had it wrong in the 1800s, they should have made the blacks/Chinese pay to be slaves..

Well at least they got it right this time..



posted on Sep, 16 2008 @ 01:17 AM
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Who hear thinks once either of these guys gets into office; they will do future nation wide fund raisers to help the poor, better health care or contribute to education?

... Yeah right.



posted on Sep, 16 2008 @ 07:44 AM
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I don't know about you but this contributions doesn't seem to come from regular joes with foreclosure homes and on unemployment lines.


Oil and gas industry executives and employees donated $1.1 million to McCain last month -- three-quarters of which came after his June 16 speech calling for an end to the ban -- compared with $116,000 in March, $283,000 in April and $208,000 in May.


Hum, is always a way to get away with funneling funds from big corporate America to their favorite Presidential candidates puppets.

And BTW it goes both ways.

www.washingtonpost.com...

So the donations are not as innocent as they want to make them looks.


Campaign money watch

www.campaignmoney.org...


Obama has, however, accepted more than $213,000 in contributions from individuals who work for, or whose spouses work for, companies in the oil and gas industry, according to the Center for Responsive Politics. That's not as much as Sen. Hillary Clinton, who has received more than $306,000 in donations from people tied to the industry, but it's still a substantial amount.


www.factcheck.org...

The new trend now have the employees and executives of corporate America doing the funding.





[edit on 16-9-2008 by marg6043]



posted on Sep, 16 2008 @ 07:52 PM
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reply to post by marg6043
 




Good job.

I meant to check on some of that detail.

Well, I guess records are meant to be broken. I assume in 2012 (assuming the end of the world does not arrive), we'll be at $2 billion.

Maybe we should outsource our campaigns to China or India... Food for thought.



posted on Sep, 16 2008 @ 08:22 PM
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Hiyah Loam,

Interesting thread....

Do we have any Canadians reading this? I heard something a few years back...that in Canada, all candidates only have 2 MONTHS, to campaign and can only spend a certain cash amount in those 2 months, then the election, then done.

Is this true?? And if so....is that not the most awesome system???

Elections are so way out of hand here in the U.S. it's criminal. The amount spent, the amount of time spent raising the money and campaigning etc, it's obscene.



posted on Sep, 16 2008 @ 08:31 PM
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Originally posted by LateApexer313
Elections are so way out of hand here in the U.S. it's criminal. The amount spent, the amount of time spent raising the money and campaigning etc, it's obscene.


Well, yes. Consider each of the Senators that ran over the last 18 months in this race. Where else in the universe do you get paid a public salary to campaign?


Can you imagine asking your employer to pay you while you go job hunting and interview?


Pretty ridiculous. But, hey, it's the American way...



posted on Sep, 16 2008 @ 09:00 PM
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reply to post by LateApexer313
 


Yes that's about right, they have just started campaigning, and the election is Oct 14/08, here is a little info on the Federal Political Donations.



ew Rules for Federal Political Donations

Bill C-2, the Federal Accountability Act, received royal assent on December 12, 2006. It makes changes to a number of other acts, among them the Canada Elections Act.

This backgrounder summarizes the main changes to the rules for political contributions to the Canada Elections Act.
Who can donate

As of January 1, 2007, only citizens and permanent residents of Canada can make political donations to registered parties, registered electoral district associations, candidates, nomination contestants and leadership contestants.

Corporations, trade unions and unincorporated associations may no longer make political donations to candidates, registered electoral district associations or nomination contestants of registered parties. The existing prohibition on donations from these organizations to registered parties and leadership contestants of registered parties remains. However, an employer can give an employee who wishes to be a nomination contestant or a candidate a paid leave of absence during an election period, and that leave will not be considered a contribution.
Limits on donations

1. Contribution limits from individuals are now:

* no more than $1,100* in any calendar year to each registered political party

* no more than $1,100* in total in any calendar year to the various entities of each registered political party (registered associations, nomination contestants and candidates)

* no more than $1,100* to each independent candidate for a particular election

* no more than $1,100* in total to the leadership contestants in a particular leadership contest

2. Contributions to own campaign: Nomination contestants, candidates and leadership contestants may make additional contributions from their own funds to their own campaigns. These contributions are not indexed for inflation and do not count against the individual's contribution limit.

* A nomination contestant or candidate of a registered party may contribute not more than $1,000 in total from his or her own funds to his or her own campaign; contestants may divide this amount between their nomination and candidate campaigns as they wish.

* A candidate in an election, who does not represent a registered party, may contribute not more than $1,000 in total from his or her own funds to his or her own campaign.

* A contestant in a particular leadership contest may contribute not more than $1,000 in total from his or her own funds to his or her own campaign.

3. Cash contributions: No individual may make a cash contribution in an amount that exceeds $20.

4. Receipts: A receipt must be issued for each contribution received of, or with a commercial value of, $20 or more.

New reporting requirements for gifts to candidates

Candidates may not accept any "gift or other advantage" (see definition below) from the day on which they become candidates for the purposes of these provisions (see definition below) to the day they withdraw or become members of Parliament, or election day, in any other case.

The gifts or advantages to which these provisions apply are those "that might reasonably be seen to have been given to influence [the candidate] in the performance of his or her duties and functions as a member, were the candidate to be elected."

Exception: A candidate may accept a gift or other advantage that is given by a "relative" (see definition below) or as a normal expression of courtesy or protocol.

Reporting requirements: Within four months after election day, candidates must send the Chief Electoral Officer a statement with the name and address of every person or organization from which they received gifts or other advantages worth more than $500 during the candidacy period as defined in the Act. They must also report the nature of each gift, its commercial value and cost, if any, to the candidate, and the circumstances under which it was given. This statement is confidential, but may be examined by the authorities that prosecute offences under the Canada Elections Act.
Definitions

1. Gift or other advantage means:

1. an amount of money if there is no obligation to repay it

2. a service or property, or the use of property or money, that is provided without charge or at less than its commercial value

Contributions by an eligible individual or transfers as defined in section 404.2 of the Act are not considered gifts or other advantages for the purposes of these provisions.

2. Candidate:

For the purpose of these provisions, a person becomes a candidate on the earlier of:

1. the day on which he or she is selected at a nomination contest, or

2. the day on which the writ is issued for the election

3. Relative:

A relative is a person related to the candidate by marriage, common-law partnership, birth, adoption or affinity.

4. Common-law partnership:

If two persons have cohabited in a conjugal relationship for at least one year, the relationship is defined as a common-law partnership.

Coming into force: The provisions on gifts come into force on June 12, 2007.
Transition to the new rules

With respect to contribution limits that apply to an event instead of on an annual basis – that is, contributions to leadership contestants and candidates without a registered party affiliation – while the new contribution rules apply after January 1, 2007, they are triggered only by a contribution made after the law comes into force. Any contribution that was legal when it was made under the previous rules remains legal. However, individuals may not make any additional contributions after January 1, 2007, if their total contributions for the event would exceed the new limit.

In terms of reporting, candidates, nomination contestants and leadership contestants who accepted contributions, or incurred election expenses or nomination or leadership contest expenses, before January 1, 2007, report according to the previous rules for those transactions.



posted on Sep, 16 2008 @ 09:25 PM
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Yeah, I'm in the UK and election lengths and amounts of cash spent are incomparable. I've always felt that if £1 million was gifted to one of our political parties, £950,000 would go to the election, £40,000 to general admin and £10,000 towards researching policy.

My question is: How much money have your two sides spent on researching their policies? I know that in my country the answer would be pitiable.



posted on Sep, 16 2008 @ 09:56 PM
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Originally posted by redled
...researching their policies?


What's that?


In our country we spend the full BILLION on placards and buttons.



posted on Sep, 16 2008 @ 10:02 PM
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reply to post by QuadroClip
 


Thanks QuadroClip for such a precise and detailed answer to my question...

We so need just this exact thing here in the U.S.

A strict guideline of rules about donating, a strict set time limit on gathering said donations and running a campaign...then the vote.

No muss no fuss.



posted on Sep, 16 2008 @ 10:21 PM
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The $2300/mnth is bogus.

Obama is using loopholes - Hollywood celebs alone are giving much more than that.

Remember, Obama backed out of public fundnig - the first Candidate for a very long time to do that.

Mod-Edit - completely pointless and non-topic related partisan rhetoric removed - in case you hadn't noticed the madness has stopped



[edit on 17/0908/08 by neformore]



posted on Sep, 17 2008 @ 12:11 PM
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Loam I found this one too,

Foreign donations to 2008 US Political Candidates

Interesting that most funding to all candidates are from Zurich, london and Amsterdam.

www.freebase.com...




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