[EL] The New Socialism - Super-PACs Stealing From Rich People

Sun Nov 4 20:37:50 PST 2012

Two other things could also be simultaneously true: That there is some
logic to a national ad buy as an affordable way to reach swing states; and
also that the SuperPAC and c(4) operatives are ripping off rich donors.

That's particularly true if Obama wins on Tuesday because of a superior
field operation, voter registration, GOTV, etc. The GOP SuperPACs and
c(4)'s seem to have chosen to invest mainly in broadcast advertising
instead of field. That probably has something to do with the economic
motivations of consultants who make money off the media commissions. There
is a class of political consultants who own horse farms in Virginia and
townhouses in Georgetown -- and they didn't make their money off field
operations, opposition research, advance, or any of the myriad other
functions of a political campaign. The incentives to overspend on media are
huge.

Mark Schmitt
Senior Fellow, The Roosevelt Institute <http://www.rooseveltinstitute.org/>
202/246-2350
gchat or Skype: schmitt.mark
twitter: mschmitt9

On Fri, Nov 2, 2012 at 2:31 PM, Smith, Brad <BSmith at law.capital.edu> wrote:

>  “But they can't both be true.”  ****
>
> ** **
>
> Not really. I’ve suggested 1) that there was a lot of hysteria about
> Citizens United that came from overlooking the diminishing returns of ever
> higher spending; and 2) that, however, there are reasons to spend money on
> the presidential race that have little to do with the immediate race.
> Republican campaigning for President in California is of little value for
> 2012, but could be of long term value, both for the Republican Party and
> for better government generally. ****
>
> ** **
>
> I think that can both be true, and indeed I think both are true.****
>
> ** **
>
> *Bradley A. Smith*
>
> *Josiah H. Blackmore II/Shirley M. Nault *
>
> *  Professor of Law*
>
> *Capital University Law School*
>
> *303 East Broad Street*
>
> *Columbus, OH 43215*
>
> *(614) 236-6317*
>
> *bsmith at law.capital.edu*
>
> *http://www.law.capital.edu/faculty/bios/bsmith.asp*
>
> ** **
>
> *From:* will.moore.law at gmail.com [mailto:will.moore.law at gmail.com] *On
> Behalf Of *Will Moore
> *Sent:* Friday, November 02, 2012 12:05 PM
> *To:* Smith, Brad
> *Cc:* Election Law
> *Subject:* Re: [EL] The New Socialism - Super-PACs Stealing From Rich
> People****
>
> ** **
>
> Brad, ****
>
> ** **
>
> You've made two arguments here.  1) These ads are useless and that shows
> that campaign finance laws are silly because campaign money has diminishing
> marginal utility that is zero at a relatively low amount. So there's no
> harm to opening the system.  2) These ads are useful.
>
> Either could potentially be a useful argument.  But they can't both be
> true.  So which one do you find most persuasive?****
>
> ** **
>
> -Will****
>
>
>
> William Moore
> *The Moore Firm - Business Law*
> 5755 Oberlin Dr., Suite 301, San Diego CA 92121 | www.themoorefirm.net
> (858) 210-7999 | wmoore at themoorefirm.net
>
>
> ****
>
> On Fri, Nov 2, 2012 at 7:02 AM, Smith, Brad <BSmith at law.capital.edu>
> wrote:****
>
> When Citizens United was decided, people including Russ Feingold would say
> ridiculous things, including "the total net worth of U.S. corporations
> was $23.5 trillion, and after tax profits were nearly $1 trillion. During
> the 2008 election cycle, Fortune 100 companies alone had profits of $605
> billion. That’s quite a war chest that may be soon unleashed on our
> political system.”****
>
> ** **
>
> As Will's comment illustrates, that's absurd. You can't do it. Indeed, if
> Will is correct, then appears we're now spending just about the right
> amount - with just a few days to go, the campaigners finally "ran out of
> useful things to do with their money." ****
>
> ** **
>
> However, actually I think it is more complicated than that. ****
>
> ** **
>
> One of the bad things that campaign finance regulation has done is to
> require centralized fund-raising and campaign systems, especially at the
> presidential level. Between passage of the 1974 Amendments to FECA and
> Citizens United and SpeechNow.org, it was extremely difficult to spend any
> meaningful dollars, or even small amounts of money, outside of the national
> party and the national campaign, in a presidential race - especially
> because of the constraints imposed by tax funding (with its accompanying
> spending limits) and coordination rules. As a result, presidential
> elections adopted a top down command structure, with nothing wasted in
> "uncompetitive" states. Prior to that time, much more money would be raised
> and spent locally, outside the national campaign structure, even in states
> that were not "competitive" in a particular election. The presidential
> campaign was the motivating force and central event for state and local
> party building. ****
>
> ** **
>
> The demise of local presidential campaigning has hurt local minority
> parties, contributing to the increase in geographically polarized voting
> areas. ****
>
> ** **
>
> California badly needs a competitive two-party system, and spending some
> money around the most visible political campaign - the presidency - in
> order to build support for the party in the state is probably a good thing
> for the public, and in the long run a smart thing for the party.****
>
> ** **
>
> *Bradley A. Smith*****
>
> *Josiah H. Blackmore II/Shirley M. Nault*****
>
> *   Professor of Law*****
>
> *Capital University Law School*****
>
> *303 E. Broad St.*****
>
> *Columbus, OH 43215*****
>
> *614.236.6317*****
>
> *http://law.capital.edu/faculty/bios/bsmith.aspx*****
>   ------------------------------
>
> *From:* law-election-bounces at department-lists.uci.edu [
> law-election-bounces at department-lists.uci.edu] on behalf of Will Moore [
> wmoore at themoorefirm.net]
> *Sent:* Friday, November 02, 2012 9:05 AM
> *To:* Election Law
> *Subject:* [EL] The New Socialism - Super-PACs Stealing From Rich People**
> **
>
> Saw 3 anti-Obama ads on the Channel 8 news in San Diego this morning from
> American Crossroads and Restore Our Future. Again, these ran on Local TV in
> San Diego.  California.   ****
>
> ** **
>
> This means that they ran out of useful things to do with their money
> before they ran out of money.
>
> If I was a rich, right-wing ideologue, I'd be asking for a refund. As it
> is, I'm contemplating starting a conservative Super-PAC so I can steal
> money from rich, right-wing ideologues - just like Karl Rove does.
>
> -Will
>
> William Moore
> *The Moore Firm - Business Law*
> 5755 Oberlin Dr., Suite 301, San Diego CA 92121 | www.themoorefirm.net
> (858) 210-7999 | wmoore at themoorefirm.net****
>
>
> _______________________________________________
> Law-election mailing list
> Law-election at department-lists.uci.edu
> http://department-lists.uci.edu/mailman/listinfo/law-election****
>
> ** **
>
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