Obama, Mitt Romney Nixing Federal Campaign Funds

-- President Barack Obama and Republican rival Mitt Romney don't want your three bucks.

Sure, they'll happily take direct contributions. But for the first time since public financing of presidential campaigns began in 1976, both major-party candidates will likely turn down federal subsidies for their general-election campaigns_ and avoid the red tape and spending limits that come with the money.

The public financing comes via $3 check-off boxes at the top of tax forms.

Breaking a campaign pledge, Obama opted out of the public financing program in 2008 and went on to raise $750 million. He swamped GOP nominee John McCain, who was limited to spending the $84 million he got from taxpayers. Romney won't get caught in that trap. Instead, he's on track to raise $600 million.

Both parties, however, will still take $17.7 million each in federal money for their conventions.

Only one Republican took federal matching money for the primaries: former Louisiana Gov. Charles "Buddy" Roemer, who qualified for $285,470 before deciding in February to run as an independent.

By the way, both Obamas checked the $3 yes box on their joint 2011 tax return. The Romneys checked it on their 2010 forms but have yet to release their 2011 returns.

___

Earlier on HuffPost:

Comments

[pinetarred]

07:14 AM on 04/17/2012

The "moral" of the story is??????

[MentalLapse]

09:11 PM on 04/16/2012

"Obama opted out of the public financing program in 2008 and went on to raise $750 million. He swamped GOP nominee John McCain, who was limited to spending the $84 million he got from taxpayers. Romney won't get caught in that trap. Instead, he's on track to raise $600 million."

Well that seems fair.

[chaya]

07:09 PM on 04/16/2012

Obama would be insane to opt for public finance money and spending limits, at a time when corporations have become human beings and America's 1% have banded together to buy their own government.

Utterly insane.

[So silly]

06:35 PM on 04/16/2012

I don't think either of them are interested in your $3 no matter how they receive it actually. I got a really annoying fund raising letter from the DNC that had an asterik next to I think it was $50 and $100 donations and a message saying those were especially appreciated. I guess my $10 or $20 donations isn't even worth cashing the check.

[chaya]

07:12 PM on 04/16/2012

It's worth it. They're just hoping you'll give more--because the new corporate "citizens" and top 1% are giving the GOP so much money this year Democrats are going to have a hard time fighting them--thanks to "Citizens United." Just remember, if each of us who supported the Democrats gave them $10 we could probably whoop the pants off the 1%.

[Barbara DeZan]

05:37 PM on 04/16/2012

I never checked that box.

I prefer my money go exclusively to the candidate of my choice.

[StopMakingSense2]

05:18 PM on 04/16/2012

Since it's become an auction only a fool would place such limits on one's self! It's a foul corrupt game, but it's the only game in town! Conservatives have pushed for the unlimited spending and it's funny to hear them whine about others beating them at their own game!

[SueZbell]

04:47 PM on 04/16/2012

"Show me the money"-but -in much larger amounts than I can get via gov't.

[Karma2U]

04:15 PM on 04/16/2012

Just VOTE!

[hopepad08]

03:48 PM on 04/16/2012

Big whoop?

Trying to make a big deal out of nothing?

[Conservative Crusader]

03:37 PM on 04/16/2012

Words that describe the Obama Administration

demagoguery |ˈdeməˌgägərē|

noun

deceit by false promises, flattery, and intentional distortion of facts. Demagogy is widely used by bourgeois politicians and their opportunistic underlings to win the confidence of the masses. It is especially widespread in election campaigns and in the yellow press and broadcasting in capitalist countries.

the methods, practices, or rhetoric of a demagogue

hypocrisy |hiˈpäkrisē|

noun ( pl. hypocrisies )

the practice of claiming to have moral standards or beliefs to which one's own behavior does not conform; pretense.
the condition of a person pretending to be something he is not, especially in the area of morals or religion; a false presentation of belief or feeling.

[ultrawiz]

04:02 PM on 04/16/2012

Tea bagger - clueless grade school drop out incapable of original thought so parrots what his corporate masters want them to spew.

[Conservative Crusader]

04:09 PM on 04/16/2012

har har har... no i felt like pissing off a liberal... Mission accomplished

[Clozure]

04:12 PM on 04/16/2012

cool story bro

[chuckgoodcat]

03:12 PM on 04/16/2012

accounting for inflation $3 is worth about $.30 .

[Hardyman1966]

03:00 PM on 04/16/2012

So... for those of us who do check the box, can we apply it to our debt if no one wants it, or does it just float up into space?

[SueZbell]

04:48 PM on 04/16/2012

It's already been flushed down the toilet.

[So silly]

06:37 PM on 04/16/2012

It goes to corporate tax cuts.

[alice sophia]

02:58 PM on 04/16/2012

Mitt became the posterboy for univeral obsequiousness the day he chuckled, in the lame way that the Romney couple chuckles, and actually asked people at one of his sparsely attended rallies to donate the $3. Even Ann would not have gone that pathetically far; figure, she couldn't stand being in Trump's casino for that quickie endorsement. It's true Romney will say anything, talk to anybody and accept anybody's endorsement and the paltry $3 they might have in their pocket.

[Grannysue]

02:49 PM on 04/16/2012

I think we should start having a "Lottery election", that way we the citizens can have as much influence as the corporations, you buy a lottery ticket for $5.00, then if your numbers picked and your candidate wins you get to help pick out his cabinet, oh ya and keep part of the money, compared to our system right now how much worse would it be, besides you get to keep part of the money, if nothing else it will help to stimulate the economy!

[Peace Walker]

02:42 PM on 04/16/2012

Which is why we have to make it the only means of funding for political campaigns. Everybody gets the same, and that;s it.