In class, we talked about the world of US campaign finance, the secretive donations, the "unlimited" spending for some organizations, with the limits on other organizations, and the donors that will or won't be revealed. There is a term for the money that is used in campaign finance, yet there is no disclosure on the donor: Dark Money. Dark Money is like the weird cousin of Hard and Soft Money. What is it and what is it's purpose? Well, Dark Money is political spending by nonprofit organizations that are not required to disclose their donors. And, these organizations can receive unlimited donations. These organizations are typically 501(c)4s.
Overtime, Republicans are typically the groups that get involved with this secret cash, since Democrats are generally calling for stricter campaign finance limits, but some Democratic candidates have been financed by Dark Money as well. LLCs have been called more of black holes than what we traditionally refer to as Dark Money. For example, in Delaware, Propel Capital Network LLC is the "go-to" for maximum secrecy.
Groups like political nonprofits, trade associations, and labor unions, are still required to file paperwork to the IRS, while LLCs don't have that requirement. So the question at hand is, does Dark Money make campaign finance corrupt? Or is the current state of things worth keeping? Will disclosing donors create scandal, and should we let our ignorance be bliss? The world of campaign finance is a shady and dark one, but what we don't know can't affect us!
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Cool post! What do you think about the Citizens United supreme court decision and how this might have influenced this "world" of dark money within campaign finance? Do you think that this is what allows for such loose regulations, and do you think that should be changed?
ReplyDeleteInteresting post and topic! I think the whole partisan aspect of this is really interesting as well. Do you think the likelihood that Democrats also play this game with dark cash is high? Is the possibility of them being a part of this secret money strictly ruled out because of their campaign opinions?
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