Campaign finance. Rarely do we find themes that cut across party lines, that unify the sharp lines between Liberals and Conservatives. With partisanship in Congress at an all-time high, it’s hard to imagine anyone agreeing on anything of substance. Yet the 2015-2016 election cycle has indeed revealed a consensus; a staggering 84 percent of Americans now thinking that money has too much influence in political campaigns.
One candidate, however, claimed to be above all this. Republican presidential nominee, Donald Trump, put his campaign’s self-finance at the very heart of his White House bid. Here are five reasons why such claims are suspect.
1. He Thinks Being Rich Is A Qualification
Both Bernie Sanders and Democratic presidential nominee Hillary Clinton have spoken of the need for campaign reform. In this, Clinton was often on the defensive.
Paid speeches she made to Wall Street and Clinton Foundation ties to big business were just some of the accusations.
Using his own money?
Meanwhile over in the Republican camp, then wannabe nominee Donald J. Trump made much of the fact that he alone was self-financing his own campaign. In Trump’s eyes, having the money to pay for things seems to be a qualification in and of itself. At any rate, as with all things Trump, such claims should be taken with a pinch, or perhaps even a handful of salt. He had this to say on the subject:
“I’m self-funding. I’m putting up my own money. “It’s something I don’t know that I’m given proper credit for, but you know what, I feel better about it because nobody has me. I’m working for you.”
2. His Self Finance Claims Are Not True
Trump was, of course, really working for himself. By the end of 2015, the Trump campaign had amassed around $19 million, some $13 million of that coming from Trump’s own pockets. Around 34 percent of his funding then, came from outside sources via the helpful donate button on his website. To complicate matters further, Trump was not actually spending his own money, it was merely a loan, one no doubt he intends to claim back at some unspecified point in the future.
The first pro-Trump PAC crashed and burned.
Also in 2015, at least one Super PAC had thrown their weight behind the property tycoon’s presidential bid, though it was forced to shut down after allegations emerged that it had coordinated with the Trump campaign. For the record, you’re not supposed to do that.
3. He Has Plenty Of Super PAC Support
As the bitterly contested Republican nomination process spilled over into 2016, and as Trump’s crowning became an increasingly obvious fait accompli, his support rocketed. Pro Trump PACs such as Great America and Rebuilding America were both in situ by June, with the latter claiming to have already amassed $32 million in contribution commitments from just donors. The money looks like it will be well spent, with one advert already having been lambasted for its misleading content.
Large donations made up a sizable portion of his total finance.
Trump’s pride in the early days of his sort-of self-financed campaign has not resurfaced. Current contributions suggest that 41 percent of his funds are from individual contributors with 14 percent of them listed as ‘large’ donations.
4. His Economic Advisory Committee Is Full Of Donors
The GOP nominee unveiled his economic advisory committee over the weekend, possibly in an effort to draw attention away from his disgraceful treatment of the Kahn family. The group of 13 men, and they are of course, all men, includes five major donors whose families have given Trump’s campaign, and his joint fundraising account with the Republican Party, more than $2 million. To make things worse, the cadre of advisers read like a who’s who of Wall Street financiers, the very same people Trump claimed Clinton was in bed with just a few short months ago.
5. He Grants Special Access To Fellow Billionaires
Billionaire investor Andy Beal is just one example of the kind of access for sale in the Trump camp. Beal already gave $100,000 to the Make America Great PAC last summer, the one that was forced to close shop. He has also been linked to the aforementioned Great America PAC, though it’s unclear as to whether he has donated money to it or not. Still, the $449,400 he gave to Trump Victory, the maximum legal amount no less, makes up a sizable chunk of the nominee’s total funds. Not that Trump seemed to sense any conflict of interest. On Friday he said:
“I am pleased that we have such a formidable group of experienced and talented individuals that will work with me to implement real solutions for the economic issues facing our country.”
Others were less impressed. According to Trevor Potter, president of the Campaign Legal Center and former chairman of the Federal Election Commission said Trump’s actions are:
“Following the path he has said was corrupt: raising large sums of money and then giving donors special access.”
A revolving door?
Trump’s double standards are nothing new, his flair for hypocrisy is after all one of his few genuine talents. What remains to be seen is how much more influence peddling Trump will engage in. As his favorability ratings hit a historic low, he is likely to become more desperate.
As the campaign heats up, he’s likely to turn increasingly to others to finance it. A come one, come all revolving door is hardly out of the question. It remains to be seen if his supporters even care.
Watch The Young Turks shatter Trump’s “self-funding” illusion:
