I'm Not Concerned
Sigh. Yet another article about a campaign finance "loophole"
An inconsistency in campaign-finance rules places former Massachusetts Gov. Mitt Romney (R) in an advantageous position should he decide to subsidize his White House run with his own fortune.
Romney’s personal assets reportedly exceed $500 million, and he has shown willingness to self-finance. He already has loaned himself more than $2 million to help kick-start his campaign. His top opponents for the GOP nomination, Sen. John McCain (Ariz.) and former New York City Mayor Rudy Giuliani, are not nearly as wealthy.
It's not a loophole. It's a constitutional right for people to spend their wealth. It does reveal the foolishness of much of the rest of campaign finance reform. Remember, the independently wealthy candidates who have self-financed a presidential run in the recent past have not fared all that well; Ross Perot's millions got him exactly zero electoral college votes; Steve Forbes won 2 primaries in 1996 as I recall (Delaware and Arizona) and none in 2000.
Labels: 2008 Candidates, Campaign Finance Reform, Mitt Romney