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SSCG8c: Examine campaign funding and spending.

SSCG8c: Examine campaign funding and spending. Bell Ringer. Please answer the following questions: How can social media help or hurt a political campaign? Why is it important for politicians to utilize media in their campaign? What would you do with $887 million?. Videos:

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SSCG8c: Examine campaign funding and spending.

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  1. SSCG8c: Examine campaign funding and spending.

  2. Bell Ringer Please answer the following questions: How can social media help or hurt a political campaign? Why is it important for politicians to utilize media in their campaign? What would you do with $887 million?

  3. Videos: How Campaign Finance Works http://www.youtube.com/watch?v=JwqEkjipAoY

  4. Hard Money Vs. Soft Money • 'Hard' money is contributed directly to a candidate. It is regulated by law and monitored by the Federal Election Commission. • 'Soft' money is contributed to the Republican and Democratic National Committees, and to the party committees in each state. 'Soft' contributions are not as heavily regulated.

  5. Paying for Presidents • Presidential Campaigns = Big Money • Billions of dollars were spent to elect a President in 2012.

  6. 2012 Campaign Stats By the Numbers: http://www.washingtonpost.com/wp-srv/special/politics/campaign-finance/

  7. Political Action Committees (PAC) • Special groups that raise money for candidates with whose political platform they agree. • Heavily regulated by the Federal Election Commission. • Came about after WWII

  8. Political Action Committees • In 1905, President Theodore Roosevelt introduced the first campaign finance regulations • Limit the influence of wealthy individuals and special interest groups. • Deter abuses by mandating public disclosure. • More regulations came in the 1970’s in the wake of the Nixon presidency.

  9. PACS • A limit for individuals to $5,000 per year for Federal PACs; • Corporations and unions may not contribute directly to federal PACs, • Union-affiliated PACs may only solicit contributions from members; • Independent PACs may solicit contributions from the general public and pay their own costs.

  10. Top PACs from 2011-2012 • Honeywell International$1,746,428 36% 64% • National Assn of Realtors$1,628,900 45% 54% • National Beer Wholesalers Assn$1,511,500 42% 58% • AT&T Inc$1,355,000 37% 64% • Intl Brotherhood of Electrical Workers$1,319,150 98% 2% • American Assn for Justice$1,300,500 96% 4% • Lockheed Martin$1,289,500 41% 59% • Credit Union National Assn$1,184,800 47% 53% • American Bankers Assn$1,146,100 25% 75% • Every Republican is Crucial PAC$1,101,000 0% 100% • Boeing Co$1,068,500 40% 60% • Carpenters & Joiners Union$1,037,500 77% 23%

  11. Super PACs • Super PACs are a new kind of political action committee created in July 2010 following the outcome of a federal court case known as SpeechNow.org v. Federal Election Commission. • Can give unlimited amounts of money raised from corporations, union, individuals to candidates. • Must report donors monthly or quarterly to Federal Election Commission.

  12. Super PACs • As of March 13 2012 Super PACs have raised $130,353,017.

  13. Super PACs • Restore Our Future supports Romney Conservative $36,797,202 • Winning Our Future supports Gingrich Conservative $13,114,797 • Red, White & Blue supports Santorum Conservative $2,817,675 • Make Us Great Again supports Perry Conservative $5,485,885 • Endorse Liberty supports Paul Conservative$3,396,997 • Our Destiny PAC supports Huntsman Conservative $3,166,244 • House Majority PAC Liberal $3,020,215 • Freedomworks for America Conservative $3,045,084 • American Crossroads Conservative $23,439,951 • Priorities USA Action supports Obama Liberal$4,459,431

  14. Recent Legislation • Bipartisan Campaign Reform Act of 2002 or the McCain –Feingold Act sought to limit the amount of soft money raised from 527 organizations – which are non-profits. • Soft Money is money raised for party building and not given to specific candidates • Hard Money goes directly to the candidate • This legislation was a product of the 1996 election and an revision of reforms from the 1970s.

  15. Recent Legislation • Citizens United v. Federal Elections Commission - 2010 • Relaxed regulations introduced by McCain-Feingold concerning the amount of money corporations could donate • Which held that the First Amendment prohibited the government from restricting political expenditures by corporations and unions. • Led to the creation of Super PACs

  16. Videos: Super PACs http://www.youtube.com/watch?v=KyN2EVbMy80 http://www.youtube.com/watch?v=pMvG54GjtRI&feature=related

  17. Money in U.S. Elections • Continuing Problems with Campaign Finance • Rising Costs of Campaigns • Candidates’ Personal Wealth • Declining Competition • Increasing Dependence of PACs and Wealthy Donors • Growthin Individual • Contributions and Use • of the Internet to Fund • Campaigns

  18. Closing Answer the following questions: How do PACs and Super PACs influence campaigns? Are they a good thing or a bad thing? Explain your answer.

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