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Started By
Message
If Rispone is elected governor, will he be able to personally pocket "contributions?"
Posted on 9/26/19 at 9:32 pm
Posted on 9/26/19 at 9:32 pm
I first thought Rispone had spent $11.5 million of his own money:
But I looked at his campaign finance report and it is actually $11.5 million in loans that he made to his campaign.
My question is, assuming he's elected and holds fundraisers to retire the "debt" his campaign has, does that mean the money people then donate will be going back into Rispone's pocket?
And is he loaning with interest to his campaign?
I'm not being facetious. I genuinely don't know. I can certainly see the logic of why this was set up as a loan to the campaign. But if donations to retire a governor's campaign "debt" go right back into his personal pocket, up to $11.5 million of it (maybe with interest?) - that is an odd look for a guy who is campaigning against "corruption."
quote:
Despite trailing in most polls, Rispone has a huge funding advantage and has spent millions advertising on television. He has poured at least $11.5 million of his own personal wealth into the race. That has allowed him to drown out Abraham in TV advertising, where the bulk of campaign ad dollars are spent.
But I looked at his campaign finance report and it is actually $11.5 million in loans that he made to his campaign.
My question is, assuming he's elected and holds fundraisers to retire the "debt" his campaign has, does that mean the money people then donate will be going back into Rispone's pocket?
And is he loaning with interest to his campaign?
I'm not being facetious. I genuinely don't know. I can certainly see the logic of why this was set up as a loan to the campaign. But if donations to retire a governor's campaign "debt" go right back into his personal pocket, up to $11.5 million of it (maybe with interest?) - that is an odd look for a guy who is campaigning against "corruption."
8
Posted on 9/26/19 at 9:34 pm to ExtraGravy
Good question
Posted on 9/26/19 at 9:36 pm to ExtraGravy
The answer is YES. That's why it's shown as a loan and not a gift. Or he shows it as a loss and takes it off his taxes.
Posted on 9/26/19 at 9:38 pm to ExtraGravy
Who cares. It'll all go to the 2023 campaign.
Posted on 9/26/19 at 9:39 pm to LSUgrad1998
quote:
The answer is YES. That's why it's shown as a loan and not a gift. Or he shows it as a loss and takes it off his taxes.
Thank you. Do you know if he can charge interest, or is loaning at interest?
I must say, if it's legal it's legal, but I don't like the idea of a governor personally pocketing the "contributions" lobbyists and influential people will be lining up to give.
Posted on 9/26/19 at 9:39 pm to LSUgrad1998
quote:
The answer is YES. That's why it's shown as a loan and not a gift. Or he shows it as a loss and takes it off his taxes.
So I can donate my hard earned money and run for office and get s tax deduction????
I don’t think so.
Posted on 9/26/19 at 9:41 pm to ExtraGravy
quote:
Thank you. Do you know if he can charge interest, or is loaning at interest?
I must say, if it's legal it's legal, but I don't like the idea of a governor personally pocketing the "contributions" lobbyists and influential people will be lining up to give.
Politicians loan their campaign money all the time. If it’s legal to pay yourself back with donations it shouldn’t be.
Posted on 9/26/19 at 9:41 pm to ExtraGravy
The campaign can pay Rispones loans to the campaign. What wrong with that?
Posted on 9/26/19 at 9:45 pm to ExtraGravy
Hang on—what is he pocketing? If he takes a million dolllars and loans it to his campaign and contributors give a million to the campaign and it pays him back what is the issue??? How does that differ from someone who takes a million from contributors and spends it on the campaign? Both will spent a million dollars of contributions on the campaign.
Posted on 9/26/19 at 9:47 pm to ExtraGravy
I don't know what the law is now, but I remember seeing David Duke on Larry King, and he kept giving out his mailing address every minute. I couldn't understand why.
Then I realized he was expecting campaign contributions -- later I learned that per rules of the time, any money he didn't spend he could keep.
Supposedly Pat Buchanan netted $12M out of his prez campaigns this way...
Then I realized he was expecting campaign contributions -- later I learned that per rules of the time, any money he didn't spend he could keep.
Supposedly Pat Buchanan netted $12M out of his prez campaigns this way...
Posted on 9/26/19 at 9:47 pm to I B Freeman
quote:
The campaign can pay Rispones loans to the campaign. What wrong with that?
It's not illegal. But imagine the lobbyists or maybe wealthy landowner who want some deal pulled that will make them rich, say a highway project approved, the state to buy some of their worthless land, special state subsidies for their business venture- you name it. And they say, "the governor knows he'll be able to retire that debt eventually and get all his money back. But boy, wouldn't it be a powerful statement if we could raise him $5 million in one evening! We'll throw a huge party! By coincidence, we'll need a decision pretty soon on this favor we are asking for. And hey, I'm sure money isn't everything, but he won't forget who put $5 million back in his pocket in one night."
Yeah- not illegal. As for "what's wrong with that", I think the question answers itself.
Michael Kinsley used to say about Washington, "the scandal is not what crimes politicians commit. The scandal is what's legal."
Posted on 9/26/19 at 9:49 pm to I B Freeman
quote:
Hang on—what is he pocketing? If he takes a million dolllars and loans it to his campaign and contributors give a million to the campaign and it pays him back what is the issue??? How does that differ from someone who takes a million from contributors and spends it on the campaign? Both will spent a million dollars of contributions on the campaign.
Donor gives money to Rispone’s campaign if goes back to Rispone’s bank.
Donor gives money to Edwards it goes to the campaign’s bank where limits are placed on how it’s spent or until the candidate retires I believe.
Posted on 9/26/19 at 10:02 pm to ExtraGravy
Wrong thinking.
There is nothing “wrong” with this at all.
If JBE takes a million from gumbo pac and spends it on his campaign it is no different.
What Rispone has done is he put his own money instead of gumbo pacs into his campaign so he could start spending on his campaign. If he spends it all and gets no campaign contributions he is out it all. JBE is out nothing—all his money is contributions.
The aforementioned wealthy land owner can give to either candidate. Rispone can’t take home more money than he has loaned into the campaign.
Y’all need to step back and think about that again. It’s not even close to improper.
There is nothing “wrong” with this at all.
If JBE takes a million from gumbo pac and spends it on his campaign it is no different.
What Rispone has done is he put his own money instead of gumbo pacs into his campaign so he could start spending on his campaign. If he spends it all and gets no campaign contributions he is out it all. JBE is out nothing—all his money is contributions.
The aforementioned wealthy land owner can give to either candidate. Rispone can’t take home more money than he has loaned into the campaign.
Y’all need to step back and think about that again. It’s not even close to improper.
This post was edited on 9/26/19 at 10:06 pm
Posted on 9/26/19 at 10:07 pm to LSUgrad1998
Contributions to political campaigns are not tax deductible nor would be these loans.
Posted on 9/26/19 at 10:43 pm to I B Freeman
quote:
If he spends it all and gets no campaign contributions he is out it all.
if he loses the election- could he write off the bad loans as a loss against future income on his taxes?
If so, then he gets a big tax break if he loses. And of course if he wins, he gets the money back, thanks to lobbyists.
Posted on 9/26/19 at 11:37 pm to Kafka
quote:That's why he ran so much. That and peddling his endorsement.
Then I realized he was expecting campaign contributions -- later I learned that per rules of the time, any money he didn't spend he could keep.
Posted on 9/26/19 at 11:39 pm to ExtraGravy
Wait, I thought Ralphie cucks said that it was bad to sling mud at other Republicans in the primary?
Posted on 9/27/19 at 4:42 am to ExtraGravy
No on the tax break. Any money the campaign does not pay him back becomes a campaign contribution and those are not tax deductible.
What is the difference between lobbyists giving the campaign money that end up paying the expenses of the campaign that were paid with loans and lobbyists giving JBE money that is used to pay expenses of the campaign?? You are making something out of nothing.
What is the difference between lobbyists giving the campaign money that end up paying the expenses of the campaign that were paid with loans and lobbyists giving JBE money that is used to pay expenses of the campaign?? You are making something out of nothing.
Posted on 9/27/19 at 5:53 am to ExtraGravy
quote:
assuming he's elected and holds fundraisers to retire the "debt" his campaign has, does that mean the money people then donate will be going back into Rispone's pocket?
effectively, yes. he's not personally spending that money. he's loaning it to his campaign and excess monies left over can "pay off the debt"
Posted on 9/27/19 at 6:59 am to ExtraGravy
This is the normal procedure for every self financed campaign ever run.
Surprised you’re surprised.
And it’s not corrupt.
Now the misuse of JBE’s medical welfare funds is corruption.
Surprised you’re surprised.
And it’s not corrupt.
Now the misuse of JBE’s medical welfare funds is corruption.
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