Tag: self-funded

Trump Benefited From ‘Extraordinary’ Influx Of ‘Dark Money’ In Final Days Of 2016 Campaign

Republican presidential candidate Donald Trump speaks during a campaign stop at the First Niagara Center, Monday, April 18, 2016, in Buffalo, N.Y. (AP Photo/John Minchillo)

Hillary Clinton’s electoral collapse in the final days of the 2016 presidential campaign has often been attributed to former FBI Director James Comey’s 11th-hour decision to reopen an investigation into the Democratic nominee, or anti-Clinton ads on social media originating from Russian sources. But a new paper argues that a crucial and overlooked factor in Clinton’s lackluster finish was a huge influx of so-called dark money in support of President Donald Trump in the campaign’s final days.

“Dark money” is a term used to describe political spending by anonymous donors through nonprofits, which don’t have to disclose the names of the people giving them contributions. Thanks to a series of Supreme Court decisions around the end of the last decade, these organizations are now often used to fund political ads at key moments of campaigns. According to a working paper by Thomas Ferguson, Paul Jorgensen and Jie Chen published by the Institute for New Economic Thinking this week, dark money was mobilized on behalf of Trump in the final weeks of the campaign at an unprecedented scale.

“What happened in the final weeks of the campaign was extraordinary,” the authors wrote.

“Firstly, a giant wave of dark money poured into Trump’s own campaign — one that towered over anything in 2016 or even Mitt Romney’s munificently financed 2012 effort … The gushing torrent, along with all the other funds from identifiable donors that flowed in in the campaign’s final stages should refocus debates about that period.”

At the beginning of November, nearly $13 million worth of dark money was spent supporting Trump, compared to roughly $6 million worth of such funding for Romney at the same time in 2012, according to the authors’ review of FEC and IRS data. That increase does not correspond with a rising amount of dark money between the two election cycles: total dark money spending actually fell to $181 million in 2016 from a high of $308 million in 2012.

The paper doesn’t identify how much dark money benefited Clinton during the course of the 2016 election, but her total fundraising nearly doubled Trump’s, $1.2 billion to $647 million. Trump also generated a record amount of small dollar donations for a Republican candidate.

[International Business Times]

After Pledging to Donate Salary, Trump Declines to Release Proof

President Donald Trump pledged to forgo a presidential salary, but as his second payday approaches, the White House is declining to say if the president has donated any of his earnings yet.

During the campaign, Trump promised he would take “no salary” if elected — a pledge he reiterated after he won.

“I’m not going to the take the salary,” he said on CBS’ “60 Minutes” in November.

The Constitution, however, requires that the president receive a salary, and that it not be reduced during his term. Federal law mandates the president receive a $400,000 annual salary, paid out once a month.

Trump aides have previously said Trump would donate his salary to the Treasury Department or a charity.

MSNBC requested details and documentation about any salary donations from the White House, the Treasury Department and the Office of Personnel Management, which all declined to say whether Trump has donated any of his salary to date. (OPM referred questions to the White House.)

Last month, White House spokesperson Sarah Huckabee Sanders told the website Politifact that Trump “will be giving” his salary “back to Treasury or donating.” The site noted the White House “declined to answer several inquiries into whether Trump has gotten a paycheck already.”

Under the law, Trump would receive his first monthly paycheck for $33,333 in February, and another $33,333 on March 20.

Salary donations are not the only area where Trump’s pledges to donate revenue are lacking transparency.

During the transition, Trump also unveiled a plan to “donate all profits from foreign governments’ patronage of his hotels and similar businesses” to the Treasury Department. The plan was released by Trump’s private law firm, Morgan Lewis, but no system or accounting has been released for how or when such donations will be processed or disclosed.

(h/t NBC News)

Media

Donald Trump Jacked Up His Campaign’s Trump Tower Rent Once Somebody Else Was Paying It

Donald Trump’s campaign is defending its reasoning for more than quadrupling what it pays to rent office space in the Republican presidential nominee’s namesake tower, saying the higher rent comes from occupying more space.

Federal Election Commission filings show that the Republican nominee’s campaign paid $169,758 in rent last month for space at the Manhattan skyscraper — a dramatic jump of 5 times the amount from March, when the campaign paid Trump Tower LLC only $35,458 in rent.

The spike in rent, which was first reported by The Huffington Post, is a result of the campaign adding two more levels to its existing space, the campaign said Tuesday.

“We calculated the rent based on the average rent per square foot in the area,” the campaign said in a statement provided to CNN.

“Overall, we still pay over $40,000 less in rent than the Clinton campaign,” the statement added. “Also, Mr. Trump makes a personal contribution of $2 million per month to the campaign, obviously a much higher amount than rent.”

Clinton’s campaign is paying about $212,000 a month, according to the Huffington Post, in rent for its 80,000 square feet of office space in Brooklyn.

Steven Cheung, Trump’s director of rapid response, also told the Associated Press the “expansion is in anticipation of more staff.”

However the Trump campaign has not expanded, in March the campaign had 197 paid employees and consultants, while in July it paid 172 employees and consultants.

“If I was a donor, I’d want answers,” said a prominent Republican National Committee member who supports Trump, asking for anonymity to speak freely. “If they don’t have any more staff, and they’re paying five times more? That’s the kind of stuff I’d read and try to make an (attack) ad out of it.”

Indeed, Hillary Clinton’s campaign pounced on the reports of larger rent payments. Democratic vice presidential nominee Tim Kaine said Tuesday that Trump “has highly unusual expenditures, even in this campaign.”

The 172 employees paid by the Trump campaign last month is dwarfed by the more than 700 paid staff on Clinton’s campaign.

“So, as an example, Donald Trump is renting space in one of his buildings to his campaign and the campaign is paying Donald Trump personally for the space,” Kaine said during a roundtable in Lakewood, Colorado. “Once he started to fundraise dramatically, he was self-funding for a while, but once he started to fundraise dramatically, he immediately tripled the rent payment that his campaign donors were paying him personally.”

It isn’t the first time that Trump’s campaign has appeared to be working in concert with his business interests. Federal records have shown that Trump had directed almost a fifth of his campaign cash to companies to which he is linked.

(h/t CNN, Huffington Post)

Reality

While we must stress that there is no direct evidence that Donald Trump is purposefully lining his pockets with the money from donors, but the timing of raising his rent 5 times (that he pays to himself) as soon as he begins accepting external donations while having no good explanation does raise major questions.

However it is important to remember Trump has suggested in 2000 when he mulled making an independent run: “It’s very possible that I could be the first presidential candidate to run and make money on it.”

Historically, candidates would separate themselves from their business interests when running for office. Trump has done the opposite by promoting his businesses while running for office.

Trump Hides Fundraising By Mega-Donors

Donald Trump has always insisted his campaign is self funded (it’s not) so he can’t be bought, but he has been accepting large donations from mega-donors while refusing to disclose who they are.

Over the weekend Trump attended two “high-dollar soirees” in Nantucket and Cape Cod, including one at the home of a Koch brother, William, where the co-hosts received six tickets to a VIP reception and photograph with the Republican nominee as thanks for raising at least $100,000. Because there is a $2,700 limit on contributions to political campaigns, fundraisers, referred to as “bundlers,” who can tap networks of friends and business associates for money are very valuable—individual contributions must be disclosed, but the only bundlers who must be identified are those who are also registered as federal lobbyists.

Outside of this being a major flip-flop on a key selling point to his supporters of self-funding, is the issue of a complete lack of transparency compared to his Democratic rival when it comes to fundraising bundlers.

Trump had not disclosed any such bundlers through June—or, actually, any at all. Clinton, meanwhile, has named 499 bundlers (including lobbyists) who have raised at least $100,000 for her campaign.

From Politico:

So far, Clinton’s political operation has outraised Trump, announcing a $90 million haul in July between her campaign and the Democratic Party. But Trump said last week that he had raised about $80 million between his campaign and various GOP committees, boasting, in particular, about the $64 million in smaller digital and direct-mail donations.

But despite Trump’s rhetorical focus on small-dollar contributors, he is still dependent on bundlers and six-figure political donors.

In his Trump Victory joint fundraising account, which raised $25 million from late May through the end of June, roughly half the funds came from only 25 families.

Throughout primary season, Trump boasted that he was “self-funding” his campaign, a claim that was only ever partially true, and to the extent that was true was only so because he couldn’t get the big establishment backers—at least at first—to support him.

Last year, when he was still working to denigrate Florida senator Marco Rubio, Trump tweeted, “Sheldon Adelson is looking to give big dollars to Rubio because he feels he can mold him into his perfect little puppet. I agree!” But in May, Trump ate dinner with the conservative financier and his wife in Manhattan, and last month at the Republican National Convention in Cleveland he made sure to stop by their private suite at the Quicken Loans Arena.

“She’s totally controlled by the special interests,” Trump said of Clinton last week. Maybe so! But if she is, then so is he.

(h/t Gawker, Politico)

 

20% of Donald Trump’s Campaign Spending Goes to Himself

Donald Trump’s campaign is almost broke, and is paying an unusual amount of money to Trump-owned businesses. That’s according to the presumptive Republican presidential nominee’s FEC filing, details of which were released Monday night.

The report provided a number of rather shocking facts, including that his campaign raised just $3.1 million in May compared to Democratic rival Hillary Clinton’s $27 million.

In comparison, Mitt Romney’s campaign raised $86.5 million in May during the 2012 presidential race. And on Monday night alone, Clinton raised about $1.6 million at a celebrity-studded fundraiser in New York City.

Another eyebrow-raising tidbit: Of the $6.7 million the Trump campaign spent in May, nearly 20% went to Trump-owned businesses or family members.

Furthermore, the filing suggests that Trump himself is drawing a salary from the campaign, which would be highly unusual.

The campaign also spent $208,000 on hats.

If Trump’s fund-raisers want to feel even worse, their haul was far less than a 2013 Kickstarter campaign to fund a “Veronica Mars” movie, as well as a recent Kickstarter campaign to fund “Reading Rainbow.”

And in a way, Buzzfeed’s widely publicized refusal earlier this month to accept Trump ads may have benefited the candidate: The original ad buy was for $1.3 million, exactly the amount the Trump campaign has left in the bank, according to the FEC report.

(h/t Market Watch)

Reality

According to The New York Times the spending raised eyebrows among campaign finance experts and some of Mr. Trump’s critics who have questioned whether the presumptive Republican nominee, who points to his business acumen as a case for his candidacy, is trying to do what he has suggested he would in 2000 when he mulled making an independent run: “It’s very possible that I could be the first presidential candidate to run and make money on it.”

“He could end up turning a profit if he repaid himself for the campaign loans,” said Paul S. Ryan, a campaign finance expert with the Campaign Legal Center. “He could get all his money back plus the profit margin for what his campaign has paid himself for goods and services.”

“We don’t have clear answers,” Mr. Ryan said. “Historically, candidates would separate themselves from their business interests when running for office. Trump has done the opposite by promoting his businesses while running for office.”

 

 

Trump Campaign: We’re Facing an Emergency Goal of $100,000

The Donald Trump campaign on Saturday released its first “emergency” fund-raising email, in response to an ad blitz from the Hillary Clinton campaign.

“Right now we’re facing an emergency goal of $100,000 to help get our ads on the air. We need your contribution by 11:59 P.M. Tonight,” the email from Team Trump said.

“Crooked Hillary is about to invade your TV with ads attacking Mr. Trump. But we’re preparing to fight back,” it reads.

The email promises to release ads attacking Clinton on her role in Benghazi, the integrity of her donors and reported FBI probing of her private email server while secretary of state.

The urgent fundraising email is routine for most presidential campaigns. But it’s particularly notable since Trump insisted repeatedly during the GOP primary season that he was self-funding his campaign, only to start asking for donations later on.
Republican officials and activists are increasingly concerned that Trump is underestimating the fundraising challenge ahead as he faces off against Clinton, the presumptive Democratic nominee.

As the general election heats up, the Clinton campaign on Thursday aired its first general election television ad, targeting Trump for comments about violence at his events and what critics have said was mocking of a disabled New York Times reporter.

Despite the Trump campaign’s urgent appeal for campaign donations on Saturday afternoon he raised the prospect of paying for his general election bid himself. At a Las Vegas rally, he argued that if GOP establishment types didn’t fully support his campaign he could self-fund, rather than relying on the party apparatus to help bring in donations.

“Life is like two way street, right?” Trump said. “Otherwise I’ll just keep doing what I’m doing. I’ll just keep funding my own campaign. I’m ok with that. That’s the easy way. I mean for me, that’s the easy way. But, hopefully I can continue to go the way we’re going, and this weekend we raised a lot of money. We’ve raised a lot of money for the Republican Party. We’ll keep doing it, because we do have tremendous support within the party that I can tell you.”

(h/t CNN)

Reality

Trump went back on his promise to self-fund his campaign in May 2016.

With the many other flip-flops since becoming the Republican party’s nominee, he’s rejected almost every stance that his supporters loved which separated him from the other candidates.

Donald Trump Flip-Flops on Campaign Self-Funding

Facing a prospective tab of more than $1 billion to finance a general-election run for the White House, Donald Trump reversed course Wednesday and said he would actively raise money to ensure his campaign has the resources to compete with Hillary Clinton’s fundraising juggernaut.

His campaign also is beginning to work with the Republican National Committee to set up a joint fundraising committee after his last two rivals—Texas Sen. Ted Cruz and Ohio Gov. John Kasich—dropped out in the wake of Trump’s resounding Indiana win on Tuesday.

“I’ll be putting up money, but won’t be completely self-funding,” the presumptive Republican nominee said in an interview Wednesday. Trump, who had largely self-financed his successful primary run, added that he would create a “world-class finance organization.” The campaign will tap his expansive personal Rolodex and a new base of supporters who aren’t on party rolls, two Trump advisers said.

The new plan represents yet another flip-flop for Trump, who has for months portrayed his Republican opponents as “puppets” for relying on super PACs and taking contributions from wealthy donors that he said came with strings attached.

Mr. Trump’s creation of a joint fundraising committee comes eight months behind that of his likely general-election foe, Clinton. She and the Democratic National Committee reached an agreement last August to create the Hillary Victory Fund, which raised more than $60 million through the end of March. Of that, about $13 million has been transferred to Mrs. Clinton’s campaign, while nearly $6 million has gone to the DNC.

The former secretary of state raised more than $213 million for her campaign through the end of April, on top of more than $67 million raised by her allied super PACs.

(h/t Fox News)

Reality

With the many other flip-flops since becoming the Republican party’s nominee, he’s rejected almost every stance that his supporters loved which separated him from the other candidates.

Media