Why super PACs?

We discussed super PACs in class earlier, and with election season in full swing now, super PACs are once again becoming major players. True, super PACs are supposed to be independent from candidates, but they can support or oppose whomever they choose.

But why do these individuals donate so much money to candidates? (for a breakdown of the financing, click here http://www.nytimes.com/interactive/2012/01/31/us/politics/super-pac-donors.html?ref=politics ) And where does the money go?

The second question is pretty easy: the money goes to the candidates, to fund ad campaigns and more expensive things...okay yes, that makes sense.

But WHY do these people donate such large sums of money? Obviously they have enough money to invest in their hobbies and interests; but why choose to create or donate to a super PAC? There must be some sort of reward to this. Sure, they are promoting a cause and their belief, but there must be something else.

Although, maybe there isn't some corrupted ulterior motive driving these multimillionares and corporation owners to finance candidates. Maybe they are just donating from the good of their hearts...but then again, why don't they donate to America, by agreeing to pay a bit more in taxes to help the others?

What do you think: why do individuals create super PACs? What's in it for them?

**this morning I read that the Republican candidates are running out of funds and relying more heavily on super PACs, giving these individuals and organizations a much larger say in government. Click here for a NY times article on depleting funds.

Colbert to Run for President

Following the successful transfer of his super PAC to Jon Stewart, Stephen Colbert announced last Thursday his intention to run for President of the United States of South Carolina.

Comedian and host of Comedy Central's "The Colbert Report," the inspired candidate decided to join the race after polls revealed he could potentially trump Huntsman in the South Carolina GOP Primary. To do so, however, he was first required to relinquish control of his super PAC, a Political Action Committee capable of raising unlimited amounts of money for advertising candidate ideals and values. As lawyer and former Federal Election Committee Chairman Trevor Potter explained, so long as Colbert does not "coordinate" with Stewart, the "Definitely Not Coordinating with Stephen Colbert Super PAC" may legitimately operate.

Under Stewart's leadership, the super PAC, also dubbed "Americans for a Better Tomorrow, Tomorrow" ran ads attacking the negativity of other campaigns and endorsing a presidential candidate, one of which included a clip of Colbert slowly smiling to patriotic music over a period of twenty seconds. Through these ads, Stewart and Colbert effectively satirized other super PACs, which have contributed millions of dollars for GOP candidacies and sparked a controversy over their unlimited funding.

Unfortunately, as the state of South Carolina does not allow write-ins on the ballot nor accept candidates later than the November 1st deadline, the super PAC instead extended endorsements to Herman Cain, whose name shall appear on the ballot despite his earlier withdrawal from the race.