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Discussion in 'Politics, Religion, Social Issues' started by detz, Oct 30, 2008.
If they have millions and millions where does it go?
In 2004, John Kerry reportedly had about $10million left over in the bank. Some of it was set aside for legal fees in the event of close recounts and legal challenges. He also:
They do not get to pocket it. That loophole was closed about 20 years ago or so.
The interesting thing to research is when a candidate "loans" his campaign money. State rules in Maryland (unsure how feds work it) insist that the campaign pay back the candidate with interest. If not, the interest has to be considered part of the campaign contribution. So in this crappy economy, if candidate X lends himself $100,000, he can pay himself back at 5 percent or so. Better than the stock market.
Good thing none of our candidates is filthy rich
wait a tick.....
The winning candidate typically keeps it for the second election (assuming he/she wants to run again). Otherwise it's used to pay off campaign debt or given to the party.