Posted on 02/24/2020 5:30:39 PM PST by karpov
House Democrats held a panicked hearing this month about how to respond to the Supreme Court’s 2010 decision in Citizens United v. Federal Election Commission, which upheld the right of corporations to spend in elections. Their concern was the undue influence corporate spending might have on the coming elections.
In the entire 2016 campaign cycle, corporations spent less than $300 million on federal races, less than 5% of total spending. Meanwhile, former New York Mayor Michael Bloomberg has already spent more than $360 million on cable, broadcast and radio advertisements since declaring his candidacy in mid-November. That doesn’t include Mr. Bloomberg’s spending on staff, office space, logistics and internet advertising. Overturning Citizens United wouldn’t touch that money.
“It’s a shame Mike Bloomberg can buy his way into the debate,” tweeted Sen. Elizabeth Warren. The Washington Post’s Greg Sargent typifies liberal angst with the claim that Mr. Bloomberg’s spending “threatens to constitute a moral and political disaster.”
Whether Mr. Bloomberg’s ad barrage translates to more than a brief blip in the polls remains to be seen—he was savaged by his rivals in his first debate.
But Mr. Bloomberg’s ad campaign is likely to help the eventual Democratic nominee, whether it is Mr. Bloomberg or someone else. Many of his ads directly attack President Trump. Since Mr. Bloomberg is a candidate, federal law mandates that he get the lowest unit ad rate. If Mr. Bloomberg used the same money to fund a super PAC, it would have to pay market rates. Thus being a candidate wins Mr. Bloomberg an advantage in softening up Mr. Trump for the Democratic nominee. At the same time, super PACs backing other candidates have to pay far more for their ads than Mr. Bloomberg does, while their campaigns are subject to strict limits
(Excerpt) Read more at wsj.com ...
Thank goodness for the Democrats decades long push for campaign finance laws which have taken big-money out of politics.
Do I need /S?
ALL regulation somehow advantages a privileged class.
Paging Captain Obvious.
The mass media has been attacking candidate Trump and then President Trump 24/7 for five years.
An ad campaign attacking him is just....boring....total waste of money.
There can’t be a dozen people left in the country who haven’t figured out their view on the President by now!
Aw, call the waaaaaaaaaahmbulance.
(HAT TIP AMERICAN THINKER)
A YouTube video of Bloomberg speaking at Oxford Dec 2016 reveals much about Bloomberg’s beliefs and thinking:
<><> he is dismissive of the working class,
<><> he sees the average guy as an ignoramus,
<><> the working class are unintelligent, unable to find useful work in the technological age.
Bloomberg considers himself the crown prince....a member of an intellectual elite.
Those working class types (voters) he deplores are paying close attention.
They quickly grasp his real opinion of them and they are unlikely to vote for someone
who sees them as serfs in need of the noble guidance and patronage from know-it-all Bloomberg.
LOL!
"Buck up, Mini-Mike -- if *I* can stay in the race, *anyone* can."
Campaign staff gives Bloomberg a really hard question: "Are you the most qualified candidate for president."
Bloomberg: "Yes, I am."
Campaign Staff: "Great........see you at your inauguration."
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