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Joe BidenCongratulations to our presumptive Democratic nominee, Joe Biden!

Tue Nov 26, 2019, 03:58 PM

 

How Bernie's small donation campaign funding model is lining the pockets of credit card companies

Low-dollar, repeat contributions are a great talking point for campaigns. They’ve also resulted in a massive financial windfall for credit card processors (to the tune of millions of dollars).

When you give a dollar to a political campaign using your credit card, a portion of that money is paid to a range of companies—the bank that issues a donor’s credit card, the campaign’s bank, the credit card company, etc.—and is generally taken as a percentage of the donation, plus a fixed amount per transaction. Even ActBlue, which advertises a flat fee of 3.95 percent, gets charged a per-transaction fee behind the scenes, though the organization would not give exact amounts.


https://www.politico.com/news/magazine/2019/11/25/small-dollar-online-donors-politics-credit-card-processing-072949

Even if Bernie is not aware of this, which I find hard to believe, at the very least this shows the ignorance, if not the hypocrisy, of bashing alternative methods of campaign funding.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Reply How Bernie's small donation campaign funding model is lining the pockets of credit card companies (Original post)
beastie boy Nov 2019 OP
Cha Nov 2019 #1
Kurt V. Nov 2019 #27
Me. Nov 2019 #34
Cha Nov 2019 #43
Blue_true Nov 2019 #36
LanternWaste Nov 2019 #2
TidalWave46 Nov 2019 #3
pnwmom Nov 2019 #25
TidalWave46 Nov 2019 #39
Hassin Bin Sober Nov 2019 #4
beastie boy Nov 2019 #6
brooklynite Nov 2019 #8
beastie boy Nov 2019 #9
Hassin Bin Sober Nov 2019 #19
Kurt V. Nov 2019 #28
beastie boy Nov 2019 #30
Hassin Bin Sober Nov 2019 #32
ChubbyStar Nov 2019 #10
beastie boy Nov 2019 #13
ChubbyStar Nov 2019 #14
beastie boy Nov 2019 #15
OilemFirchen Nov 2019 #40
betsuni Nov 2019 #5
aikoaiko Nov 2019 #7
beastie boy Nov 2019 #11
aikoaiko Nov 2019 #12
beastie boy Nov 2019 #18
Voltaire2 Nov 2019 #22
beastie boy Nov 2019 #26
aikoaiko Nov 2019 #23
Doremus Nov 2019 #46
Gothmog Nov 2019 #16
Blue_true Nov 2019 #37
Gothmog Nov 2019 #41
Aaron Pereira Nov 2019 #17
demmiblue Nov 2019 #20
Voltaire2 Nov 2019 #21
beastie boy Nov 2019 #24
Hassin Bin Sober Nov 2019 #29
beastie boy Nov 2019 #31
zipplewrath Nov 2019 #33
aidbo Nov 2019 #35
LineLineNew Reply !
Voltaire2 Nov 2019 #44
Hassin Bin Sober Nov 2019 #45
TreasonousBastard Nov 2019 #38
Hassin Bin Sober Nov 2019 #42
aidbo Nov 2019 #47
Name removed Nov 2019 #48

Response to beastie boy (Original post)

Tue Nov 26, 2019, 04:03 PM

1. So much Irony.

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Cha (Reply #1)

Tue Nov 26, 2019, 08:52 PM

27. Doesn't this apply to all campaigns then.

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Cha (Reply #1)

Tue Nov 26, 2019, 10:11 PM

34. Isn't That The Truth

 

verite and transparency seems to be coming to the forefront more and more these days.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Me. (Reply #34)

Wed Nov 27, 2019, 06:02 AM

43. To Transparency!

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Cha (Reply #1)

Tue Nov 26, 2019, 10:19 PM

36. Cha, real life is an irony cake.

 

Some prefer to live in a fantasyland and real life simply act on them. People who were running to the moral high ground got their supporters' legs caught in a bear trap.
If I were to vote in a presidential
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Response to beastie boy (Original post)

Tue Nov 26, 2019, 04:28 PM

2. He's fixing a hole on one side of the boat by removing wood from the other side.

 

Three Card Monte is still an effective trick.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 05:19 PM

3. Politico is trash. NT

 

If I were to vote in a presidential
primary today, I would vote for:
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Response to TidalWave46 (Reply #3)

Tue Nov 26, 2019, 08:41 PM

25. This is a good article and Politico is a mainstream publication, not trash. nt

 

If I were to vote in a presidential
primary today, I would vote for:
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Response to pnwmom (Reply #25)

Tue Nov 26, 2019, 11:58 PM

39. I disagree.

 

Clickbait headlines where the content often doesn’t match. That’s just to start.
If I were to vote in a presidential
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Response to beastie boy (Original post)

Tue Nov 26, 2019, 05:33 PM

4. They are all making the cc companies rich.

 

Too bad for everyone else Bernie is getting the most donations. Now it’s a bad thing?

Bernie contributed 2.3 million the other candidates contributed 7 million.

Bernie Sanders. 2,338,693.12
Elizabeth Warren 1,749,137.93
Pete Buttigieg 1,732,924.26
Kamala Harris 1,150,166.53
Joe Biden 1,061,699.44
Donald Trump 1,003,793.81
Source: Newsy analysis of FEC data

Here’s a clue. These campaigns are making a lot of people rich. CC companies, newspapers, Twitter, Facebook, network tv, cable tv, radio stations, ad buyers, convention halls, restaurants, charter bus and plane companies, rental car companies, sign makers, wacky inflatable waving arm sign makers and tshirt makers.

And, for some, canapés distributors.


I’d rather my money pay for transaction services than have the bundlers swarming my candidates. Or worse yet, candidates advertising special access for big donors.
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Hassin Bin Sober (Reply #4)

Tue Nov 26, 2019, 06:00 PM

6. By all means, choose your poison.

 

It's up to you who you choose to part with your money for, credit card companies or bundlers. Just don't pass judgements on others while you are at it. Everybody has their own 'drathers.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #6)

Tue Nov 26, 2019, 06:04 PM

8. I've never given my money through bundles...

 

Just send it straight to the campaign or the candidate.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to brooklynite (Reply #8)

Tue Nov 26, 2019, 06:19 PM

9. There you go!

 

You would think it's simple enough for Bernie's campaign to inform the donors and stop showering credit card companies with millions in fees. Or just drop the $27 dollar contribution schtick for the same reason.

But I suspect racking up the number of donors, regardless of methods, is a more desirable (and calculated) goal for Bernie's campaign than sticking with principles.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #9)

Tue Nov 26, 2019, 07:11 PM

19. Bernie raised twice as much money as your candidate.

 

And his reported fees are roughly twice as much.

What was the issue again?

There’s more to “costs” to working people than what you see in the credit card fees - especially when you figure the costs to us in access politics.


People are far more likely to spend more money and more often when they have easy access to credit card transactions. Anyone who runs a business knows this. McDonald’s knows this, your local convenience store knows this, contractors know this (that’s my business and point of sale credit card processing is a big deal now) and your local craft show people know this.

It’s a documented fact.

This line of attack is about as Rovian as it gets. Attack a strength - small dollar non-maxed out multi trip donors who can dig in their pockets throughout a campaign versus some candidates who max out their donors and run out of funds late in the game.

99% of Bernie’s donors can keep giving and over a hundred thousand people are signed up for auto deductions. That’s fantastic.
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Hassin Bin Sober (Reply #19)

Tue Nov 26, 2019, 08:53 PM

28. +1

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Hassin Bin Sober (Reply #19)

Tue Nov 26, 2019, 09:18 PM

30. Actually, the ratio of money raised to transaction fees paid favors Biden by almost 50%

 

That means that Biden's campaign is almost 50% less generous to the bankers than Bernie's campaign. That translates into a lot of $27 bills!

If this is not an issue for you, that's OK. But it doesn't change the math. Just take it easy on the millionaire and billionaire rhetoric if you don't want to be challenged on it.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #30)

Tue Nov 26, 2019, 09:27 PM

32. Biden paid 45% of What Bernie paid.

 

Biden raised 50% of what Bernie raised.

Bernie has way more donors and donations. Maybe Bernie is getting a better deal
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Reply #6)

Tue Nov 26, 2019, 06:21 PM

10. Ugg that would be druthers

 

drathers is not a word. Keep trying!
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to ChubbyStar (Reply #10)

Tue Nov 26, 2019, 06:34 PM

13. Thanks! Are you available for English lessons?

 

I would be disappointed if you are not.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #13)

Tue Nov 26, 2019, 06:35 PM

14. Sorry no

 

I would suggest night school. Good luck!
If I were to vote in a presidential
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Undecided

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Response to ChubbyStar (Reply #14)

Tue Nov 26, 2019, 06:38 PM

15. I am disappointed. Can I at least count on you to correct the grammar in my posts on DU?

 

I work the night shift.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Hassin Bin Sober (Reply #4)

Wed Nov 27, 2019, 12:16 AM

40. Ohhh... THAT's why the Canaps Distributors Union endorsed Biden.

 

Buncha white-tailed snooty hundredaires.

Boycott Big Shrimp!
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 05:56 PM

5. K&R

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 06:03 PM

7. Weird that they are targeting Bernie and Elizabeth. Totally weird.

 


Moving money always leads to benefits to banks and finance companies.

Is this a new thing to some people.



For the record, Bernie and Elizabeth are not trying to reduce profits -- they like to tax those profits more progressively.


If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to aikoaiko (Reply #7)

Tue Nov 26, 2019, 06:30 PM

11. "Moving money always leads to benefits to banks" And moving money $27 at a time benefits them

 

incrementally. That's the whole point. Bernie is advocating a marketing trick at the expense of his donors and to the benefit of the banks and finance companies. Something that is entirely unnecessary except to create the perception of small donor support.

And I am totally perplexed about how Elizabeth found her way into this thread.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #11)

Tue Nov 26, 2019, 06:34 PM

12. "And I am totally perplexed about how Elizabeth found her way into this thread."

 


Did you not read your article. They dragged her into the smear as well.

It's not a marketing trick and donors understand the fees.

I've donated to Bernie -- its a transparent process.



If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to aikoaiko (Reply #12)

Tue Nov 26, 2019, 06:56 PM

18. Didn't want to go there, but yeah, that's a serious faux pas on Warren's part too.

 

Of all the people who know a thing or two about credit card companies.

But tell me, when you donated to Bernie, were you really aware that literally millions of dollars of your contributions go to feed millionaires and billionaires? And that's OK with you?
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #18)

Tue Nov 26, 2019, 07:17 PM

22. write a freaking check if credit card fees bother you.

 

I'm sorry of your candidate is not doing well with small donor funding, but the attack in the op is total nonsense.
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Voltaire2 (Reply #22)

Tue Nov 26, 2019, 08:45 PM

26. Great idea! As a Biden supporter I refuse to contribute to the financial elites.

 

And don't be mad, my candidate is doing rather well without giving millions of raised money to the bankers.
If I were to vote in a presidential
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Joe Biden

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Response to beastie boy (Reply #18)

Tue Nov 26, 2019, 07:59 PM

23. I use credit cards for just about every purchase -- I know there are CC fees and where they go.

 



I knew the same things about my credit card use when I donated to HRC, too.

Again, the issue isn't about companies making profits -- its about proper taxation
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Reply #11)

Wed Nov 27, 2019, 04:43 PM

46. Well I guess we should all cut up our credit and debit cards and never use them again.

 

After all, the fees are enriching somebody.

And that statement makes as much sense as the article linked above.
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 06:53 PM

16. I love ACTBLUE

 

Actblue is the mechanism that helps small dollar fundraising works. There is a commission charged to the candidate out of each payment made by means of Actblue. That fee does not necessarily cover all of Actblue's costs and so I will tip from time to time.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Gothmog (Reply #16)

Tue Nov 26, 2019, 10:27 PM

37. I do a similar approach through ActBlue. nt

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to Blue_true (Reply #37)

Wed Nov 27, 2019, 12:23 AM

41. I like giving candidates checks so that they do not have to pay the ActBlue fees

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Original post)


Response to beastie boy (Original post)

Tue Nov 26, 2019, 07:15 PM

20. Lame criticism. n/t

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 07:15 PM

21. Every candidate since Obama's team set the model has been relying on repeat credit card donations.

 

So what exactly is the point of this article?
If I were to vote in a presidential
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Undecided

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Response to Voltaire2 (Reply #21)

Tue Nov 26, 2019, 08:38 PM

24. The point is the sheer amount of transaction fees that goes with small donations.

 

While Bernie doesn't miss an opportunity to brag about the number of individual donations, he doesn't seem to mind that with this number comes the disproportionate service fees that go straight into the pockets of millionaires and billionaires. It's the irony of Bernie's campaign talking point: he claims success with small donations and conceals the fact that his success funds the credit card companies to the tune of millions of dollars from campaign contributions.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Reply #24)

Tue Nov 26, 2019, 09:14 PM

29. And your candidate funds the credit card companies about half as much Because he raised half as much

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to Hassin Bin Sober (Reply #29)

Tue Nov 26, 2019, 09:21 PM

31. Nope. See #30.

 

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 09:34 PM

33. this is amazingly lame criticism.

 

Every campaign suffers from this issue. The GOP is struggling to keep up with the political effect of Act Blue. The campaign is appealing to a demographic that has demonstrated they don't mind paying the banks for extreme convenience and pay fees on just about everything they do from buying groceries to having restaurant food delivered. This criticism is basically "he didn't fix everything all at once so he's a hypocrite". There are two candidates at least that would heavily regulate the banking industry and one of them is Bernie. God knows Biden is probably the LEAST likely, considering his track record on everything from bankruptcy to corporate governance is plain to see. (And understandable considering he comes from Delaware.)

There's plenty of valid criticisms about Bernie. One doesn't need to create this kind of false issue.
If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 10:19 PM

35. Alternative means of campaign financing is a funny way to say super PAC.

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to aidbo (Reply #35)

Wed Nov 27, 2019, 03:59 PM

44. !

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to aidbo (Reply #35)

Wed Nov 27, 2019, 04:06 PM

45. Those super PACs don't cost us anything.

 

Except sweetheart deals for the pharmaceutical industry, right wing healthcare plans, bloated military budgets, all time low corporate tax rates, and tax cuts for the super wealthy.

Other than that, super PACs are FREE!
If I were to vote in a presidential
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Undecided

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Response to beastie boy (Original post)

Tue Nov 26, 2019, 10:28 PM

38. I cannot for the life of me figure out why this is a problem...

 

We are increasingly paying for smaller things with cards and phones or whatever. Personally, I'm not sure I care whether the coffee I just paid 2 bucks for enriches the card company by 8 cents or 12 cents depending on whether I paid by debit or credit or prepaid.

I paid the same 2 bucks, and don't care how it is apportioned.
If I were to vote in a presidential
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Joe Biden

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Response to TreasonousBastard (Reply #38)

Wed Nov 27, 2019, 01:03 AM

42. Because teh Bernie!

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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Response to beastie boy (Original post)

Wed Nov 27, 2019, 08:19 PM

47. Pinky was the smart one.

 

If I were to vote in a presidential
primary today, I would vote for:
Undecided

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