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Nicholas Confessore reports at the New York Times that the Koch Brothers and their political network plan to spend close to $900 million in the 2016 election, an unparalleled effort by coordinated outside groups to shape a presidential election that is already on track to be the most expensive in history. The group’s budget reflects the rising ambition and expanded reach of the Koch operation, which has sought to distinguish itself from other outside groups by emphasizing the role of donors over consultants and political operatives. Hundreds of conservative donors recruited by the Kochs gathered over the weekend for three days of issue seminars, strategy sessions, and mingling with rising elected officials. These donors represent the largest concentration of political money outside the party establishment, one that has achieved enormous power in Republican circles in recent years. “It’s no wonder the candidates show up when the Koch brothers call,” says David Axelrod, a former senior adviser to Mr. Obama. “That’s exponentially more money than any party organization will spend. In many ways, they have superseded the party.”
Espousing a political worldview that protects free speech and individual and property rights with equal protection for everyone under the law Koch says: “It is up to us. Making this vision a reality will require more than a financial commitment. It requires making it a central part of our lives.” Told of the $889 million goal, Mark McKinnon, a veteran GOP operative who has worked to rally Republican support to reduce the role of money in politics, quipped: “For that kind of money, you could buy yourself a president. Oh, right. That’s the point.”
(Score: 3, Interesting) by Rivenaleem on Wednesday January 28 2015, @01:31PM
While I don't want to argue with the word "wasted", I'm interested to hear people's thoughts on where the money goes. I understand the The Broken Window Parable [wikipedia.org]. Does it apply here? Is this money truly wasted if it provides employment to people, if the money is just moving around?
Yes, there'll be a lot of physical waste (posters etc) and things made that will never be used again, like TV adverts, but a lot of this goes to employ people. Some will say the money could be better spent housing/feeding homeless/starving people etc, but does an election, like a war, stimulate the economy somehow too?
(Score: 1, Informative) by Anonymous Coward on Wednesday January 28 2015, @02:55PM
Hmm I would say yes it is wasted money and broken window fallacy is a good way to put it.
The job pays 400k a year for the rest of your life. Lets say you become the youngest president ever at 35 (min age). You live to a ripe old age of 80. That is 45 years of making 400k. About 18 million. If you are spending 900 million to get back 18 million that is a waste of money. You are not getting a ROI.
I personally like this book when it comes to discussing the broken window fallacy.
http://steshaw.org/economics-in-one-lesson/ [steshaw.org]
http://steshaw.org/economics-in-one-lesson/chap08p1.html [steshaw.org]
For 900 million they could START many companies and run them for years that actually produces goods.
A good way to look at if it is a waste of money is if it produces wealth or not. It makes something. The only way you can create wealth is by making goods. There is no other way. You can GET wealth by manipulation (such as playing arbitrage games with prices in the stock market). In this case they are not making anything of lasting value. It is all words and 'air time' to all be thrown away when done with. It is designer garbage.
I am also 100% sure the democrats will be spending similar sums of money on Mrs Clinton.
I am also sure the RNC will be calling me 2-3 times a week for money. As the koch brothers are not going to bear that whole burden. They will do it thru fundraising. Never *EVER* give any party any money. They will never stop asking for more. Worst 50 dollars I ever spent.