Monday, November 12, 2012
The Really BIG Money in the 2012 Presidential Campaign
Super PACs are a new kind of political action committee created in July 2010 following the outcome of a federal court case known as SpeechNow.org v. Federal Election Commission.
Technically known as independent expenditure-only committees, Super PACs may raise unlimited sums of money from corporations, unions, associations and individuals, then spend unlimited sums to overtly advocate for or against political candidates. Super PACs must, however, report their donors to the Federal Election Commission on a monthly or quarterly basis -- the Super PAC's choice -- as a traditional PAC would. Unlike traditional PACs, Super PACs are prohibited from donating money directly to political candidates.
Money can't buy you happiness, money can't buy you love -- hell, sometimes it can't buy you an election. (11/12/2012)