Democratic Campaign Confusion: pacs, “money from Wall Street” and all that

First things first:


Well said. And yes, if Sanders comes from behind and pulls off the upset, I’ll vote for him without hesitation and also give his campaign some financial support. To not do so would be nuts for me.

Now about all of that “Hillary takes money from Wall Street”. First of all, companies cannot give money to presidential candidates. They can give money to Super PACS (which cannot coordinate with the campaign) and 527 groups (unlimited contributions). 527 groups cannot coordinate with a campaign either.

And candidates can have PACs. And there are limits to what one can give to a candidate or what a PAC can give.

And yes, there are Super Pacs spending money on the behalf of Bernie Sanders, though the amount is modest (by Presidential campaign standards) and he has zero control over that.

But back to Hillary Clinton and “Wall Street money”: of course, people who work on Wall Street have given her money, just as I have. But Sanders has gotten small donations from people who presumably work at jobs. Now one doesn’t have to disclose one’s employer unless the contribution is 200 dollars or more.

But people who say that large corporations or Wall Street firms are giving to her campaign are either lying or simply don’t know what they are talking about.


April 16, 2016 - Posted by | politics, politics/social | , , ,

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