Trump’s ‘Election Defense Funds’ Are Reportedly Paying Off His Debts
Donald Trump is reportedly attempting to publicly crowdfund in order to pay off his debts.
With President Trump having set up two separate ‘election defense funds’ to help finance unfounded claims of election fraud, anyone donating would assume it goes towards just that; the small print would suggest otherwise though, as it says a large chunk of all donations will actually go directly towards paying off failed re-election costs.
However, that’s not how re-election campaigns work, because politicians spend many months prior to November collecting donations and amassing hundreds of millions of dollars to fund what they’re doing.
So why is Trump now trying to raise funds by crowdfunding?
Well, his 2020 campaign is believed to have burned through the $1.6 billion it raised over the two years since his re-election bid officially kicked off, meaning they’re now trying to recoup some of that money, according to The Guardian.
‘President Trump needs YOU to step up to make sure we have the resources to protect the integrity of the election!’ the captions on both read.
‘Please contribute ANY AMOUNT IMMEDIATELY to the Official Election Defense Fund and to increase your impact by 1,000%,’ the sites add, although it’s unclear how their contribution will have a 1,000% match, from whom, and what impact their cash has on what happens next.
When you scroll further, to read the terms and conditions, things become more interesting. Yesterday, November 10, The Guardian reported the small print as stating: ‘50% of each contribution, up to a maximum of $2,800 ($5,000), [will] be designated toward DJTFP’s 2020 general election account for general election debt retirement until such debt is retired.’
The small print now reads:
60% of each contribution first to Save America, up to $5,000/$5,000, then to DJTP’s Recount Account, up to a maximum of $2,800/$5,000.
40% of each contribution to the RNC’s Operating account, up to a maximum of $35,500/$15,000.
Any additional funds will go to the RNC for deposit in the RNC’s Legal Proceedings account or Headquarters account, up to a maximum of $213,000/$90,000.
The fine print on his joint account with the RNC, is even more revealing, stating: ‘60% of each contribution first to Save America, up to $5,000/$5,000, then to DJTP’s recount account, up to a maximum of $2,800/$5,000. [And] 40% of each contribution to the RNC’s operating account, up to a maximum of $35,500/$15,000.’
As Brendan M. Fischer, an attorney at the watchdog group Campaign Legal Center, told The New York Times:
Small donors who give thinking they’re helping to defend the integrity of our election are in fact largely helping to finance Trump’s post-presidential political ventures.
It seems 60% of the donations to these funds were going to help pay off debts Trump’s campaign had racked up during the election.
Now, after the change in terms and conditions, that 60% is said to go to Save America, which was registered with the Federal Election Commision by Bradley T. Crate, Trump’s campaign treasurer. It is only if someone donates more than $5,000 that any of the money will go to the recount account, while 40% of every donation will go to the RNC.
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