How Significant Is Money In Presidential Elections Essay
How significant is money in American Presidential Elections? (30)
Although the parties cannot exert tight control over candidates, their ability to raise and spend money has a significant influence. Studies have shown that the Republican Party spends six times more money on their campaigns than the Democrat Party. Since ‘Citizens vs FEC’ got the law passed that as much money can be given or fundraised to a campaign in any amount, sponsors, interest groups, corporate fronts and lobbyists can all contribute to a campaign.
It is said that the huge significance of money compromises America’s democracy. This is why spending limits have been introduced. In the aftermath of the crooked Watergate scandal, anxiety over campaign finance led to the passage of two major reform bills—the Revenue Act of 1971 and the Federal Election Campaign Act of 1974—that …show more content…
Most of the money is spent on TV advertisements, but they also have to pay for staffing, offices, travel, hotel accommodation and professional advisers. Campaign contributions come from individual voters, pressure groups, party committees and political action committees (PACs). A PAC is a type of organisation that pools campaign contributions from members and donates those funds to campaigns. Super PACs are the result of a 2010 Supreme Court Ruling. Super PACs may not make contributions to candidate campaigns or parties, but may engage in unlimited political spending independently of the campaigns. Unlike traditional PACs, they can raise funds from individuals, corporations, unions and other groups without any legal limit on donation size. Super PACs may support particular candidacies. For example, in 2012 ‘Restore Our Future’ raised and spent over US$40million on Mitt Romney’s presidential campaign. The money raised by Super PACs allows a candidate to become more well-known through
Although the parties cannot exert tight control over candidates, their ability to raise and spend money has a significant influence. Studies have shown that the Republican Party spends six times more money on their campaigns than the Democrat Party. Since ‘Citizens vs FEC’ got the law passed that as much money can be given or fundraised to a campaign in any amount, sponsors, interest groups, corporate fronts and lobbyists can all contribute to a campaign.
It is said that the huge significance of money compromises America’s democracy. This is why spending limits have been introduced. In the aftermath of the crooked Watergate scandal, anxiety over campaign finance led to the passage of two major reform bills—the Revenue Act of 1971 and the Federal Election Campaign Act of 1974—that …show more content…
Most of the money is spent on TV advertisements, but they also have to pay for staffing, offices, travel, hotel accommodation and professional advisers. Campaign contributions come from individual voters, pressure groups, party committees and political action committees (PACs). A PAC is a type of organisation that pools campaign contributions from members and donates those funds to campaigns. Super PACs are the result of a 2010 Supreme Court Ruling. Super PACs may not make contributions to candidate campaigns or parties, but may engage in unlimited political spending independently of the campaigns. Unlike traditional PACs, they can raise funds from individuals, corporations, unions and other groups without any legal limit on donation size. Super PACs may support particular candidacies. For example, in 2012 ‘Restore Our Future’ raised and spent over US$40million on Mitt Romney’s presidential campaign. The money raised by Super PACs allows a candidate to become more well-known through