What makes a Super PAC special? Unlike candidates, Super PACs can receive unlimited donations but they are not allowed to coordinate activities with any candidate or campaign. So basically they can take in as much money as humanly possible but they cannot work with the candidate. It is the second part of this that we feel is totally stupid. Were the people at the Great America PAC sitting around thinking “I wish we could ask Donald how we can help him”?
At a 3 to 1 ratio, campaigns prefer alcohol to pizza. Since last September campaigns have spent $133K on pizza and $400K at Bars, Pubs and Wine establishments. We went through all the expenditures since last September and screened for pizza joints and places with either “Bar”, “Pub” or “Wine” in the name. While I am sure that not all the $400K was spent on alcohol, you do not put “Bar” in your restaurant’s name because you want to attract more kids.
Beware of candidates claiming they are Green, because most likely they are not. Over the last 6 months, political candidates have spent more than $15 million on printing. That equates to about 170 acres of trees. But that is not all, trees do not magically transform into paper. It takes a lot of water, about 20 million gallons and a lot of oil, about 49 thousand barrels. Also do not forget all the electricity needed.
Only 73 companies in the S&P500 Index earned more than the total amount of federal political contributions in 2017 and it was not even an election year. In 2017 Federal contributions exceeded $3.3 billion dollars. Let’s put this into perspective. Amazon sells over 480 million products on its website and only made $3bn in 2017. Starbucks claims to sell on average 8 million cups of coffee a day globally and its profit in 2017 was only $2.9bn.
We can all pretty much assume that Planned Parenthood and its affiliates do not like Donald Trump. So who do they like and more specifically who do they like to financially support. We looked back over the last 5 years to highlight who has received the most money and who has the highest donation frequency. UNITED WE CAN tops the list with $1 million in donations. We visited their webpage and they are definitely not a friend of Trump. The Senate Majority PAC received $400K and Nextgen Climate Action Committee picked up $322K from Planned Parenthood.
We all know that Billionaire George Soros is very active and a big democratic donor. It is always fun to see where he is giving his money. We looked back to the beginning of this year and found a number of different PACs he is supporting. My question how does he decide on the amounts he donates. Let’s put this into perspective. George Soros has an estimated net worth of $8 billion, this is compared to the median middle-class net worth of $44,900.
Mitt Romney wants to be the next Utah Senator. However, people in Utah are not really supporting him, at least not financially. 86% of Mitt’s donations have come from out-of-state donors and a good portion are coming from Massachusetts, California and New York. There are also some big names giving him money. Both former President Bush and former Secretary of the Treasury Henry Paulson are backing Romney.
We looked back over the last 30 days to see which candidate / politician raised the most money. We have excluded funds donated by the candidate. Andy Barr for Congress topped the list with $213K, 63% came from out-of-state donors. Manchin for West Virginia was next also with $213K, 96% of his donations came from out-of-state. However, Manchin did pick up a good amount from ActBlue based in Massachusetts. Chip Roy’s donations totaled $190K and were pretty much evenly split between in and out-of-state donors.
We thought it was funny when we stumbled across Wicks for Freedom’s expense report and pretty much every expenditure was $635,128. Wicks spent $635K at Inverness Supper Club. Inverness Supper Club appears to be a very nice but reasonably priced bar and grill. Wick also spent $635K at Walmart and also bought $3.8mln worth of gas in six $635K installments. Either Wicks for Freedom is messing with us or someone needs to learn data entry.
Since 2009, politicians have paid more than $221mln in legal fees and services. The lion share of this amount has gone to 6 law firms. Perkins Coie dominates the group with over $66mln recieved, followed by Jones Day at $11.7mln and Wiley Rein at $8.8mln. Let’s do the math on $86.5mln worth of billable hours. It would take 6 lawyers at $500 an hour working 14 hours a day every business day to get to $86.5mln in 9 years. Is there really that much legal work that need to be done?