MyDD :: Should Obama limit GE contributions to $100?

Should Obama limit GE contributions to $100?

by TL, Fri May 16, 2008 at 12:24:58 PM EST

An idea I've heard floated is that Obama could opt out of public financing but limit contributions for the general election to $100 per person.

The more I think about this idea the more interesting it becomes.

He got 1.5 million contributors in the primary. It's reasonable to hope for 2 million for the general, especially if he caps the amount - just think of the free media. Assume he nets $125-150 million, which would be more than enough to fight the general. (The amount he'd get by taking the public funds is well under $100 million.)

It would be a revolutionary change to the current financing system and a great demonstration of popular support. The contrast with McCain would be crushing. Think of his options. He could take public finance and gripe about Obama backing out of the system, but how much traction would that have? What substantive complaint would he have? Obama would be - for the very first time in our modern history, for sure - a candidate genuinely and fully funded by small donors. I also think that tack would really make McCain's conservative base nuts - they really, really hate his vote on public finance. Finally, the icing on the cake is that Obama would be able to seriously outspend him!

In the alternative, McCain could decide to fight by opting out of public finance. Who knows what he could raise. But he'd surely have to spend a lot of time attending black-tie fundraisers and collecting fat checks from corporate lobbyists and executives. Now that's a nice contrast, too. This seems like a very media-friendly contrast - and I can see the ads writing themselves.

Now, there are downsides. Maybe McCain finds a way to outraise him, if there's a limit on Obama's contributions. But how likely is that? And if so, is it going to be a big difference? I don't think so. Maybe Obama sets the bar too high for himself or the next Democrat in a year where the base isn't as motivated as this year. Does this hurt us the next time?

Ultimately, I think the pros outweigh the cons.

Unless I'm just nuts... Am I?

(PS: please - I understand some folks don't like seeing diaries like this before we have an official nominee. If so, please consider this a thought exercise about what Obama should do if he's the nominee. This diary isn't meant as a place to carry on the fight about whether the race is over.)

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Votes: 13
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Tags: election 2008 (all tags)

Permalink :: 11 Comments :: Post a Comment

Re: Should Obama limit GE contributions to $100? (2.00 / 2)

To answer your question: NO! I'm deep in student loan debt and I know I've definitely given more than $100 to my candidate. I'd say $1,000 is reasonable though if all we're concerned is the appearance of being bought off.

"If we can't live together... we're going to die alone."

by VAAlex on Fri May 16, 2008 at 12:26:49 PM EST

This would be an excellent way (none / 0)

to lose the election. Why in the world would we willingly give the Republican party a blank check in November?

should we go outside? / should we break some bread? / are you'nterested?

by Firewall on Fri May 16, 2008 at 12:27:09 PM EST

Re: This would be an excellent way (none / 0)

We can outraise the GOP.

John McCain on social security.

by heresjohnny on Fri May 16, 2008 at 02:06:11 PM EST
[ Parent ]

Re: This would be an excellent way (none / 0)

After further consideration 100 per person is too low.

John McCain on social security.

by heresjohnny on Fri May 16, 2008 at 02:07:40 PM EST
[ Parent ]

Re: Should Obama limit GE contributions to $100? (2.00 / 3)

heck no, he should let us get as close as we can to $2,300 and use it to destroy the republicans across this country, if he can't use it all use his set up with the DNC, and the DNC can use it for other races, and get us more in the senate and the congress, maybe some governors. it'd be nice.

Congratulations to Barack Obama, the presumptive Presumptive Democratic Nominee

by TruthMatters on Fri May 16, 2008 at 12:27:11 PM EST

Re: Should Obama limit GE contributions to $100? (2.00 / 1)

I am excited that he gets so many donors, but I don't see a reason to artificially handicap it.

I'd have been fine with public financing except:

(1) Republicans hit donor caps and just fund 527s instead, ruining the concept
(2) McCain is already breaking the law with respect to taking matching funds for the primary. Why trust him?

I wonder how much he has in his GE fund already? Because all the money he has raised isn't purely primary.

by mattw on Fri May 16, 2008 at 12:35:55 PM EST

Re: Should Obama limit GE contributions to $100? (none / 0)

$100 is too low . . . maybe under $1000.

NO 100 year WAR, NO McConnell run Senate, & NO GOP-led Supreme Court!!!

by Veteran75 on Fri May 16, 2008 at 12:50:17 PM EST

I agree with the commentors (none / 0)

that say $1000. After all we want to crush John McCain

Student Guy=JoeMentum. No really Student Guy=JoeMentum, after all JoeMentum was an embarrassment so is Student Guy. This sig is FAIL!!

by Student Guy on Fri May 16, 2008 at 12:56:50 PM EST

I am agree in concept, but... (none / 0)

...disagree in practice. McCain is a terrible fundraiser and will probably take public funds no matter what we do. If my tax money goes to funding his campaign, I want as big an advantage as possible against him.

The best possible result is for McCain and Obama to somehow work out an equitable arrangement for public financing, and we donors can just focus on giving money to local races and the DNC. Such an arrangement, by the necessity of Obama's requirements (as put forth on the "pledge" that McCain is so prone to crow about), involves bipartisan legislation to limit outside groups such as 527s.

There's no way we're going to give up any advantages this year without getting something in return.

In this avalanche, the pebbles get to vote.

by Dracomicron on Fri May 16, 2008 at 01:06:36 PM EST

Re: Should Obama limit GE contributions to $100? (none / 0)

He's already told democrats not to fill up outside groups with funding for him, what more do we want?

John McCain hates terrorists, except the ones that hate women. Those are just swell.

by terra on Fri May 16, 2008 at 01:12:08 PM EST

Re: Should Obama limit GE contributions to $100? (none / 0)

I'm not opposed in theory, I'm just not sure I see the benefit.

It might be an interesting show of strength, and if he explicitly drew a line between himself and McCain, highlighting how he's doing what McCain says he will. And he could help the down ticket Dems. by sending any contributors that hit their limit with him to the DNC or someone else that can help fund other races. Positive Democratic messages on the ground help both ways.

by werehippy on Fri May 16, 2008 at 01:23:06 PM EST

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