The 2016 U.S. Presidential Election is now under a year away. This post digs deeper into the data surrounding a very important topic - campaign financing.
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1. Where Does the Money Come From?
Short answer: It comes from many different places.
Long answer: Most of it comes from securities and investment firms, lawyers and law firms, and real estate. The graph below provides an example of the funds contributed to Senators Schumer and Durbin.
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2. Campaign Finance Enforcement
In Oregon and Washington, office candidates must file to twenty-five separate parties whenever they receive a campaign contribution. Whereas New Jersey, North Dakota and Illinois are more lax with this policy, requiring just two filings.
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3. Campaign Contributions by the Tax Preparation Industry
Could money in politics be to blame for complicated tax returns?
In 2011, Rep. Jim Cooper (D-TN) introduced a bill that would have streamlined tax returns for most individuals. The so-called “return-free” filing bill never even came up for a vote in the House Ways and Means Committee, which has jurisdiction over the IRS. Sen. Ron Wyden (D-OR) and Sen. Dan Coats (R-IN) included the proposal in their failed 2011 tax reform bill. Rep. Cooper’s office said congressional inaction was due, in part, to opposition from tax preparation companies like Intuit and H&R Block.
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4. Total Contribution Receipts for Presidential Candidates
The winner of a presidential election, has on average, received 52.7% more in campaign contributions than the loser.
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5. 2016 Presidential Candidates: The Money Race, Democrats
So how do the top 2016 Democratic Presidential candidates stack up against one another? While Bernie Sanders lags Hillary Clinton significantly in terms of campaign contributions (i.e. total receipts), he remains competitive in terms of overall support.
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6. 2016 Presidential Candidates: The Money Race, Republicans
So how do the top 2016 Republican Presidential candidates stack up againist one another? Though Donald Trump has received less in campaign contributions (total receipts) than other candidates, he leads the pack in terms of support.
