Whatever the outcome of the presidential race, I'm admonishing citizens everywhere to write to their representatives today, beseeching them to require immediate and full disclosure of all personal and online campaign donations, as well as more equity between candidates' and supporters' contributions to campaigns. It is simply unfair to allow a wealthy man such as Mitt Romney to "loan" his own campaign $35 million-plus, when a candidate such as Mike Huckabee doesn't possess a personal fortune and only can receive $2,300 maximum from people such as you and me.
Past campaign finance reform, such as the McCain-Feingold law, restricts our First Amendment rights, among other detriments, and political action committees can weaken partisan politics. Trade unions and corporations might be prohibited from giving directly to a candidate's campaign, but soft money still sifts through the system. Equally broken, however, is campaign protocol in which a rich man possibly can pay his own way into the White House.
Where would Romney be right now if he were running on a financially level playing field with Mike Huckabee? Where would Mike be if he had the same financial empire as Mitt? If Mike beat Mitt in Iowa despite Mitt's 10-1 spending against him, Mike certainly would be winning if he could do the same in other states. If Mike is among the last four GOP candidates standing now (third in the delegate count), just think what his placement would be with a surplus of funds to battle on the airways like McCain and Romney.
As The Washington Post rightly noted, "Romney's money is his mojo: If he's not spending, he probably isn't winning."
The truth is, for Mitt, that his presidential run is the biggest investment gamble of his life. And with the White House appraising at roughly $106 million, he's betting his largest wager on owning the Oval Office.
As one appraiser calculated, "To qualify for a jumbo 30-year, fixed-rate loan at 7.5 percent, and assuming 10 percent down, the proud new owners of the 132-room house at 1600 Pennsylvania Ave. would need to pull down an annual salary of at least $18 million."
Of course, that's pocket change for Mitt.
Then again, in an economic housing slump and with a possible recession on the horizon, Romney just might be able to take advantage of its owners (us) and maneuver them into a buyer's market steal.
The question is: Will we let him?
Burke opposes out-of-state political contributions – unless they help her campaign | Adam Tobias | 260