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Money and Elections
Transcript of Money and Elections
Money and Elections Introduction: Objectives:
1. Explain the issues raised by campaign spending.
2.Describe the various sources of funding for campaign spending.
3.Examine federal laws that regulate campaign finance.
4.Outline the role of the Federal Election Commission in enforcing campaign finance laws.
5. Distinguish hard money from soft money. Campaign Spending: A candidate must now raise and spend at least $1 million dollars Most spending will be spent on:
Primaries and caucuses
and General election Campaigns. Radio and Television Time
Professional Campaign Managers and Consultants
Posters and Bumper stickers
Travel Things that Candidates will Spend their Money on.. Television Ads are the largest cost in campaign Budgets. There are two sources from collecting money:
Public Treasury Fund-raising Campaign Donations are a form of political Participation. Private givers are the major Source Also, Candidates have Luncheons, Dinners, Picnics, and receptions to raise money. Fund-Raising Continued .... (They collect $100, $500, $1,000 a plate depending on the occasion. )
.....and reach up to $100,000 or more Dollars. 1. Small Contributors- those who give $5 or $10 dollars, ( only 10% of the people of voting age ever make a campaign contributions)
2. Wealthy Individuals and family- called "fat cats" who make large donations.
3. Candidates- candidates must have money to, (Ross Perot set all time record, he spent some $65 million dollars of his own money.)
4. Various Non-Party groups- Political action committees.
5. Temporary Organizations - groups formed for immediate purposes. Types of funding: Regulation laws are found in four detailed laws Federal Election Commission Federal Election Campaign act (FECA) of 1971
FECA Amendments of 1974 and 1976
Bipartisan Campaign Reform act of 2002. -(FEC) independent agency in the Executive branch, that are administers all federal laws dealing with campaign finance. Federal Election Commission Requires the timely disclosure of Campaign Finance Data
Place limits on Campaign Contributions
Place Limits on Campaign Expenditures
Provide Public Funding for several parts of the Presidential Election Process Laws that (FEC) is supposed to Enforce.. No person can donate no more than $2,300 to a candidate,
No more than $5,000 to a Political Action Committee (PAC),
and No more than $28,500 to a National Party Committee. Limits: Political Action Committees (PAC)- the political arms of a special-interest groups and other organizations with a stake in electoral politics. Vocabulary: Subsidy- is a grant of money, usually from the government regulating finance. Hard Money- Contributions that are given directly to candidates for their campaign for congress or the white house. Soft Money- Funds given to the parties or to other political organizations, in unlimited amounts. CNN Political Unit. "Obama Campaign Outraised Romney Campaign in August." â“ CNN Political Ticker. CNN Cable News Network, 2012. Web. 21 Sept. 2012. <http://politicalticker.blogs.cnn.com/2012/09/21/obama-campaign-outraised-romney-campaign-in-august/>.
McClenaghan, William A. "Magruder's American Government." McClenaghan, William A. Magruder's American Government. New Jersey: Prentice Hall, 2009. 864.
Over, NEW YORK (CNNMoney) -- With Primary Season. "Campaign 2012 Finance: Bring on the Cash Money." CNNMoney. Cable News Network, 24 Apr. 2012. Web. 20 Sept. 2012. <http://money.cnn.com/2012/04/24/news/economy/campaign_finance/index.htm>.
Schmitt, Mark. "Can Money Be A Force for Good?." American Prospect Vol. 20, No. 1. Jan 2009: A13-A15. SIRS Issues Researcher. Web. 20 Sep 2012.
Taylor, Steven L. "campaign finance." In Schultz, David, ed. Encyclopedia of Public Administration and Public Policy. New York: Facts On File, Inc., 2003. American History Online. Facts On File, Inc. http://www.fofweb.com/activelink2.asp?
ItemID=WE52&iPin=EPAPP0045&SingleRecord=True (accessed September 20, 2012). Works Cited: "More than $1.6 billion was raised for the presidency alone and Barack Obama raised and only spent $640 million of that total" "Campaign finance refers to the methods by which candidates obtain the monies needed to fund their quest for elective public office." Campaign Finance "Obama's campaign spent heavily in the month, too, with their haul of $84.8 million just surpassing their $83.7 million in August spending." "I think we will break all the records," said Brad Smith of the Center for Competitive Politics. "We break all the records almost every cycle now."