Posted on 08/18/2011 1:00:31 PM PDT by SmithL
It would be safe to say that many San Franciscans don't understand public financing.
John St. Croix, executive director of the Ethics Commission, says potential political candidates literally walk into the office and ask for some public financing funds, please.
"And they expect to walk out with a check," St. Croix says.
It's not that easy. But it isn't very hard either. Raise $25,000 and you get $50,000. Scare up $100,000 and you get a 4 to 1 match for $400,000. No wonder there are 16 candidates for mayor. It's political happy hour.
The idea of public financing is a good one - no one wants a candidate who is beholden to a corporation or special interests - but this is a poor use of public funds. This is the first mayoral race with public financing and voters are learning that it allows candidates to get easy money and, in some cases, to waste it.
(Excerpt) Read more at sfgate.com ...
No problem...they'll tax...uh...who's left to tax in SF?
The cashing in. More looting.
What the heck did they think would happen when you pay people to run for Mayor? It’s crap like this that make me wonder how man has survived all these years. I guess the smart ones are able to do enough to take care of the dumb ones.
Let’s see......
I can register myself as a candidate. Small fee, please.
I can borrow $100,000 from a bank or a friend who is equally well to do.
I can put that $100,000 into my campaign fund.
I then prove to the SF powers that be that I have ‘raised’ $100,000 for my campaign, with the bank account that has that $100,000 in it.
I get $400,000 from the city of SF as ‘qualified’ funds.
I go back & pay back the loan I got for $100,000.
I have $300,000 of taxpayer money & it is all TAX FREE!!!!!
What did I leave out????
Is there a single person in the entire Bay Area who doesn’t get this scam????
I am a simple full-charge bookkeeper retired in the high desert of N Nevada & I can see that people should be lining up for this trough of piggy payouts!!!!
Someone needs to use some serious Drano & clean out SF!!!!!
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