parties11.pps - Campaign Finance POLS 125 Political Parties Elections “There are two things that are important in politics The first is money and I

parties11.pps - Campaign Finance POLS 125 Political Parties...

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Campaign Finance POLS 125: Political Parties & Elections “There are two things that are important in politics. The first is money and I can’t remember what the second one is.” —Ohio political boss and U.S. Senator Mark Hanna, 1895
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How much does it cost to run for president? George W. Bush (R) $345,259,155 John Kerry (D) $310,013,730 Ralph Nader $4,563,877 Source: Total spending by all presidential candidates = $717.9 million $74.6 million in public financing during the general election $74.6 million in public financing during the general election $0
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How much does it cost to run for president? Barack Obama (D) $730 million John McCain (R) $333 million Source: Total spending by all presidential candidates = $1.76 billion $84 million in public financing during the general election Rejected public financing
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How much does it cost to run for president? Barack Obama (D) $541 million Mitt Romney (R) $336 million Source: Total spending by all presidential candidates = $1.96 billion Rejected public financing First incumbent president to rejected public financing
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Washington on the “customary means of winning votes” 28 gallons of rum 50 gallons of rum punch 34 gallons of wine 46 gallons of beer 2 gallons of cider royal There were only 391 eligible voters in his district!
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Lincoln’s Campaign Expenses in 1846 75¢ for a barrel of cider “I did not need the money. I made the canvass on my own horse; my entertainment, being at the houses of friends, cost me nothing; and my only outlay was seventy-five cents for a barrel of cider, which some farm-hands insisted I should treat them to.”
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Why do we spend so much more today? Expansion of the electorate: The 17th Amendment was passed in 1913. It instituted the direct popular election of U.S. Senators. About the same time, most states turned from party nominating conventions to direct primaries. With the ratification of the 19th Amendment in 1920, women won the right to vote. Increasing government involvement in the economy: Corporate tax policy Anti-trust law Cost of mass media Television markets Internet
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Do we spend too much on political campaigns? 231 million voting age citizens = $7.62 per person 213 million voting eligible citizens = $8.67 per person 172 million registered voters = $10.23 per person 131 million votes cast = $13.43 per person
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Where does all this money come from? Answer #1: Public financing Do you want $3 of your federal tax to go to the Presidential Election Campaign Fund? Yes No Today, just 11% of taxpayers check off the box that allocates $3 to the federal election campaign fund—down from 28% two decades ago.
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Candidates are increasingly opting out of public financing during the primary season.
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