Obama and Romney in the race for money.
Linkedin

Obama and Romney in the race for money.

Seattle : WA : USA | May 08, 2012 at 2:17 PM PDT
XX XX
Views: Pending
 
Watch Donald Trump Endorse Mitt Romney for GOP Presidential Candidate

To overcome domestic competition, the Republicans are tripping over themselves to raise money behind their virtual nominated to boost its bid. But Democrats expect record collection. Donors like billionaires get into the campaign.

The race for the November presidential most likely will become the costliest in the history of the United States. Because of its political and electoral system, run a campaign in that country, which in the case of the Republicans is also preceded by an extended period of primary-requires millions.

President Barack Obama craves far exceed $ 750 million it raised in 2008. Its goal is to reach 1,000 million dollars. And it seems that it will succeed. "I think it will break all records, "he told CNN Expanding Brad Smith of the Center for Competitive Politics.”Now we break all records almost every cycle," he added.

On the opposite side, the preoccupation with money was heard over recent months. The top Republican leaders insisted again and again that prolonged internal strife led to "waste" resources required for the dispute with the president, who is seeking reelection. But with the resignation of Rick Santorum and Newt Gingrcih to his presidential aspirations, the virtual nominee Mitt Romney has a good chance of getting funds where before was forbidden.

Analysts expect debt collectors to make a leap in the coming weeks. The former Massachusetts governor will surely benefit from lowering their contenders and many of the conservatives who financed them before now turn their money to him. And will also be enabled to use their own money, something not insignificant if you consider that it is a billionaire. But the resolution of the inner race of the opposition will also help the president, they say. Identified with a rival, many Democrats will be more determined to help in the campaign.

The role of the magnates.

The two candidates likely to give up receiving public funds that the law provides for an election. This prevents financed by private grants, but judging by what happened in recent years, none want to miss this opportunity. And that's where the so-called Super PACs will be crucial.

These super political action committees were accepted by the Supreme Court in 2010 as a mechanism to raise funds for candidates. Although they may not coordinate strategies with the campaign teams, the reality is that the proximity of those who are allowing these decisions to be made anyway, even before the contest begins.

A relaxation of the requirements for contributions has enabled large wealthy countries to play a crucial role in the Super PACs. The top 100 individual donors to these committees represent only 3.7 percent of taxpayers; however, money represents 80 percent of the proceeds. According to CNN Expansion, major donors and 46 gave 67 million dollars so far this season.

Who are these people? Magnates of industry and strong men of Wall Street, usually. But billionaires also include other items on the list, such as Sheldon Adelson, an icon of the gaming business in Las Vegas had 25 million dollars to a Super PAC that supported Gingrich. It is hoped that now lean toward Romney.

At first it seems that the emergences of these super rich give more air to the conservatives, who already spent millions on the inside. Many of them have spoken out against Obama's economic policy and expect Romney to help them improve their businesses.

This new method, in which the magnates, previously forbidden to make contributions as bulky, come to occupy a greater role in financing the campaign, brought about a drastic change in the donor map. According to USA Today, Texas leads the list of states with more money given, followed by Nevada and California. New York and Washington DC hold the following positions.

1 of 17
Next
Obama and Romney in the race for money
Donors like billionaires get into the campaign.
Vicky247 is based in Lahore, Punjab, Pakistan, and is a Reporter on Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 

Blogs

 >

Images

 >
 

More From Allvoices

Related People

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Most Commented Reports



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.