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I think a lot of us still have tax filing to do, so I think it's a good time to bring this up.
Near the top of your 1040 form, there's the option whether or not to contribute $3 to the Presidential Election Campaign Fund. I suggest checking Yes.
This does not cost you an additional $3; it merely directs $3 of your contribution towards the fund.
I know there's plenty of things to be fixed within current campaign financing systems, but this isn't really one of them. I think elections by, for and of the people should be sponsored by the people. Checking that box is step in that direction, and I encourage you all to do so.
Post by steveternal on Apr 3, 2009 10:57:51 GMT -5
Can you elaborate on the "Presidential Election Campaign Fund"? I assume this isn't a partisan program whereby the $3 goes towards the campaign for the sitting administration. To whom does it go, then?
Cut & pasted from the Wiki entry, since I couldn't say it any better.
The Presidential election campaign fund checkoff appears on US income tax return forms as Do you want $3 of your federal tax to go to the Presidential Election Campaign Fund?
Originally $1 and implemented in the 1970s as an attempt at the public funding of elections, this money provides for the financing of Presidential primary and general election campaigns and national party conventions. Beginning with the 1973 tax year, individual taxpayers were able to designate $1 to be applied to the Presidential Election Campaign Fund.[1] Both the Republican and Democratic nominees in the general election receive a fixed amount of checkoff dollars. Nominees from other political parties may qualify for a smaller, proportionate amount of checkoff funds if they receive over five percent of the vote. The national parties also receive funds to cover the costs of their national conventions. Matching funds are also given for primary candidates for small contributions. The campaign fund reduces a candidate's dependence on large contributions from individuals and special-interest groups. This program is administered by the Federal Election Commission (FEC).
Requirements to be declared eligible include agreeing to an overall spending limit, abiding by spending limits in each state, using public funds only for legitimate campaign-related expenses, keeping financial records and permitting an extensive campaign audit.
Checking the box does not change the amount of an individual's tax or refund.
McCain received about $80-85 million from this fund for his general election campaign. Obama chose not to receive these funds during the campaign, because he didn't want to be bound by the spending limits. Instead he raised above & beyond the spending limit the program would've imposed, with 88% of his campaign funds coming from individual donors - myself included.
Post by Fishing Maniac on Apr 3, 2009 11:18:56 GMT -5
So basically it's asking if you would like a portion of your tax dollars to fund the continuation of a failed two party partisan system and continue to give a political advantage to the two partisan parties that do nothing to improve the quality of life for Americans.
So basically it's asking if you would like a portion of your tax dollars to fund the continuation of a failed two party partisan system and continue to e a political advantage to the two partisan parties that do nothing to improve the quality of life for Americans.
It doesn't actually cost you three dollars, though. Doesn't add it to your debt or shave it off your refund, simply directs that $3 of the revenues collected be placed into this fund. It's got no bearing on the debt/refund you wind up with.
