Posted on 05/25/2015 2:53:25 PM PDT by Casual
So there are around 20 Repubs running for President all raising money. What happens to their money when they stop running? Does it go to the Clinton Fund?
Cancun, Cozomel, Aruba, Marakesh, Paris...
No I think they return it to the donors.../S
Maybe they take it offshore....for a little vacation.
Hookers and blow. The same thing that happens to all untraceable unobligated money in this country.
Santorum can afford two large mansions across the country, but I have no idea what that man does for a living and I’m not aware of any best selling books he has written that could lend credence to the idea that he earned those two large mansions.
They get to keep the money that is not used for the campaign.
Santorum’s net worth has been estimated between $880,000 and $3 million,[249] which is mainly held as five rental properties around Penn State University,[250] two personal homes in Great Falls and Penn Hills,[251] and some IRA accounts.[252] In 1997, Santorum purchased a three-bedroom house in the Pittsburgh suburb of Penn Hills. In 2001, he bought a $640,000 house in Leesburg, Virginia,[133] sold it in 2007 for $850,000,[253] and purchased a $2 million home in Great Falls, Virginia.[254] It was announced on May 1, 2014 that Rick Santorum would become Chairman and CEO of EchoLight Studios, a faith and family film studio and distributor. No compensation for that position was disclosed.
Source: Wikipedia
The actual campaign funds theoretically can’t be turned to personal use, but ‘leadership PAC’ money can be.
The campaign funds can remain under the candidate’s control or passed out to national committees or other candidates, or rolled into a PAC.
I can’t believe candidates can just keep money donated for campaigns.
I’ve
heard that some office holders have used leftover campaign funds from one election in their next election. If they can just keep it, how is it any different than outright bribery???
Ah, if only reporters would ask such a question of every single candidate for the highest office of the land.
Kickbacks.
They are only allowed to use the money for campaign purposes. This I the law.
I should note that building a mansion and calling it campaign headquarters is allowed under the law, as far as I understand.
Hire your wife as a “consultant” making big $$$, launder it through PACs, that sort of thing, I would guess.
It isn’t all that different. There are some rules like the funds have to be used on campaign expenses. Very loosely defined.
Its a racket. See tagline.
McCain ‘borrowed’ some $20 million left over from his 2008 presidential run to rerun for his Senate seat in 2010.
It may be legal but it seems shady, especially since McCain had to get money from the national presidential fund when his presidential campaign went broke.
The campaign funds can remain under the candidate’s control or passed out to national committees or other candidates, or rolled into a PAC.
So you roll your campaign funds into a leadership PAC and then take it.
Yeah,
That’s the ticket.
These blood leaches return All the campaign money not used specifically on their campaigns.
Cause as we All know, they all are honest.
And i wear size 16 shoes too
Not exactly. A leadership PAC is a different entity than a regular “separate segregated funds” PAC. The laws are so convoluted not even many politicians have a clue. They depend on explanations from specialized lawyers, who of course can be paid with PAC money.
And it gives the feds something to threaten to prosecute politicians for.
They keep it. That’s why politicians in office wait until the last minute to say they’re not running for re-election. They want to get all the donations they can get.
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