Campaign Finances

Sources of Campaign Finances:

Campaign financing stands to be a major factor in determining the next President off the United States. The past election, between Mitt Romney and Barack Obama, proved that managing your expenses correctly can lead to your overall success as a potential president. The expenditures concluded that both  Romney and Obama focused on the media, the administrative process, and campaign financing the only main difference was that Romney had to start fundraising later than Obama. Fundraising is one of the major sources of campaign financing. While in office Obama continued to broaden his range of political supporters and a possible source for income, which is one advantage for the incumbent, these people are kept on the data base of downers. This advantage Romney failed to have however, he still maintained a positive amount of downers. Fundraising can also be sought by major industries:

Obama:

Rank	Industry	Total
1	Retired	$50,002,197
2	Lawyers/Law Firms	$25,130,021
3	Education	$19,528,183
4	Health Professionals	$9,460,088
5	Business Services	$7,821,996
6	Civil Servants/Public Officials	$7,411,453
7	Computers/Internet	$7,092,464
8	Women's Issues	$6,913,532
9	TV/Movies/Music	$5,908,556
10	Securities & Investment	$5,860,499
11	Real Estate	$5,194,404
12	Misc Business	$5,114,363
13	Printing & Publishing	$4,486,820
14	Hospitals/Nursing Homes	$3,793,537
15	Other	$3,715,931
16	Misc Finance	$3,105,920
17	Construction Services	$2,151,759
18	Non-Profit Institutions	$2,091,325
19	Democratic/Liberal	$2,081,932
20	Pharmaceuticals/Health Products	$1,702,795

http://www.opensecrets.org/pres12/indus.php?cycle=2012&id=N00009638

Romney: 

Rank	Industry	Total
1	Retired	$56,306,153
2	Securities & Investment	$19,610,445
3	Real Estate	$12,942,203
4	Lawyers/Law Firms	$12,267,294
5	Health Professionals	$10,198,075
6	Misc Finance	$8,155,948
7	Misc Business	$6,876,970
8	Business Services	$5,496,837
9	Oil & Gas	$4,748,461
10	Commercial Banks	$4,205,950
11	Republican/Conservative	$4,030,460
12	Insurance	$4,010,360
13	Misc Manufacturing & Distributing	$3,486,951
14	General Contractors	$3,327,582
15	Education	$3,109,207
16	Computers/Internet	$2,966,214
17	Accountants	$2,544,065
18	Automotive	$2,490,074
19	Crop Production & Basic Processing	$2,248,399
20	Hospitals/Nursing Homes	$2,046,819

http://www.opensecrets.org/pres12/indus.php?cycle=2012&id=N00000286

Not only are these industries important to the development of the fundraising of each candidate, but they also reach out to their own groups giving free media coverage, which contributes to name recognition and funds.

Media coverage is a great way to gain financing throughout the nation however sometimes the media can promote different views on these issues. Helping only one or neither side, look at these clips below:

http://www.youtube.com/watch?v=4Sc9Ota2Alc                              -Romney Campaign hits a wall
http://www.youtube.com/watch?v=Q0g8COdYcU0&noredirect=1  -"Their" 5 trillion attack is not true

Within these campaigning techniques, through media coverage, some discrepancies are found within our government. While not directly related to the campaign financing, sometimes the media can produce different views to sway the public one way or another. Also the financing that takes place in producing more advertisement against the other candidate.

http://www.youtube.com/watch?v=P3hY1eagq88  -Reagan Warned Us about Obama

http://www.youtube.com/watch?v=wfSczpSXslY  -Romney uses Hillary Clinton to attack Obama 

http://www.youtube.com/watch?v=Oz1aLR05eb8 -Romney's America

The willingness of each candidate to supply the media with enough negative material  on the other, grows every year, with an increase of technology resources it becomes easier to publicize anything. This can also work to the advantage of the candidates, the public can easily access any information they wish and as a result win more voters. Instead of putting too much money into the media the candidates only have to put information about their views on a well known political blog or twitter to receive the public's opinions. 

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Regulation of the campaign finances can also be seen in different court cases throughout history; while the media can allow for name recognition and other benefits, the people can hold a lot of power through supporting a candidate through PACs and super PACs. Regulation of these financing can also be an issue within elections. The Financial Election Campaign Act of 1974 (FEC) discussed how the limitation on PACs and individual groups leads to an argument of a violation of the First Amendment. The FEC attempted to pass the following limits: limits on contributions, limits of expenditures, and a required disclosure. As a result the the court decided to limit the contribution of different corporations and require a disclosure for all amounts. As the social reforms continued a money cap was placed on how much an individual or outside group could give to a candidate. However, this did not close the doors to any super PACs donating ability.  

http://www.leftycartoons.com/wp-content/uploads/campaignfinancemonster.png

This political cartoon alludes to the Finance Election Campaign Act of 1974, the man seems oblivious to the fact that he has left the massive dragon (or financial contributions) alive while telling the public that the soft money has ended (the ability to give unlimited amounts of money to a specific party candidate). While the Senate has dealt with one problem of funding, the outside groups or investors have found a way around them by the creation of super PACs: which allows all money to be given directly to the party not the candidate. So throughout history more candidates have been gaining support form the super PACs rather than the PACs that have a limit of $5,000 (increased with inflation).


Here by:

Obama:
Super PACs:
1911 United
Black Men VoteIndependent SourceJewish Council for Education & ResearchLetOurPresidentLead.comLocal VoicesPriorities USA ActionTexans for America's Future
http://www.opensecrets.org/pres12/candidate.php?cycle=2012&id=N00009638

Romney:
Super PACs:
America is Great PAC
Campaign for American Values
Crossroads Generation
Middle Resolution
Proper Role of Government Action Fund
Restore Our Future
Special Operations for America
Strength & Liberty PAC
Texas Strategic Alliance PAC

http://www.opensecrets.org/pres12/candidate.php?cycle=2012&id=N00000286

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This picture below gives the power to the corporations, the followup on the FEC was the McCain Feingold Act which was congress's last stitch effort to reform the United States of America's campaign financing. By limiting soft money contributors the Supreme Court thought that they could hold the major finances off of the campaign, however with the court case: Citizen United vs. FEC, it was made clear that the government was replacing the people with the corporations and ignoring the First Amendment - freedom of speech. Giving money to a desired candidate is an act of the First Amendment therefore cannot be limited but the government. 

http://www.hannaharendtcenter.org/wp-content/uploads/2012/02/cartoon.jpg