It’s legal and really a non-story. There’s plenty of shit to be angry at GOPers about without writing misleading headlines.
Rich guy wants to run a political campaign, so he takes out loans to pay for it. At the same time, he asks for donations to support the campaign. Afterwards, he may use those donations to pay back the loans which were taken out to fund the campaign. What is the problem here? This is just how funding works.
The story is written as though he is being deceptive, when in reality all he is saying is that he doesn’t expect the donations he receives to line up with the amount of money he took out in loans to fund the campaign. That’s fine, he’s just paying for it out of his own pocket.
What WOULD be an issue is if these loans that he took out specifically for campaigning were misappropriated and allocated for personal use. THAT is illegal. But as of yet there is no proof of that, just whining that he’s rich enough to pull a bunch of money out the bank for a campaign (which is a problem with the system, but not really with him as an individual)
It just shows how rich you have to be to REALLY be a politician most of the time. He took the loans out for 2010 and 2016…
In 2009 he was worth $17.9 million, in 2010 he was worth $46.95 million… a nearly 250% increase in a year… 1/4 his net worth in loans for CAMPAIGNING if split evenly between the campaigns. I wonder how the approval process for something like this works…
In 2015 he was worth $36.68 million, in 2016 he was worth $27.61 million…
Pretty sure this is illegal.
Pretty sure they don’t really care. They’re there to steal, not have moral quandaries.
It’s legal and really a non-story. There’s plenty of shit to be angry at GOPers about without writing misleading headlines.
Rich guy wants to run a political campaign, so he takes out loans to pay for it. At the same time, he asks for donations to support the campaign. Afterwards, he may use those donations to pay back the loans which were taken out to fund the campaign. What is the problem here? This is just how funding works.
The story is written as though he is being deceptive, when in reality all he is saying is that he doesn’t expect the donations he receives to line up with the amount of money he took out in loans to fund the campaign. That’s fine, he’s just paying for it out of his own pocket.
What WOULD be an issue is if these loans that he took out specifically for campaigning were misappropriated and allocated for personal use. THAT is illegal. But as of yet there is no proof of that, just whining that he’s rich enough to pull a bunch of money out the bank for a campaign (which is a problem with the system, but not really with him as an individual)
It just shows how rich you have to be to REALLY be a politician most of the time. He took the loans out for 2010 and 2016…
In 2009 he was worth $17.9 million, in 2010 he was worth $46.95 million… a nearly 250% increase in a year… 1/4 his net worth in loans for CAMPAIGNING if split evenly between the campaigns. I wonder how the approval process for something like this works…
In 2015 he was worth $36.68 million, in 2016 he was worth $27.61 million…
https://www.opensecrets.org/personal-finances/ron-johnson/net-worth?cid=N00032546&year=2018
Yeah, I want someone to ELI5 how he can get away with this.
Ted Cruz and the corrupted Supreme Court.
https://www.independent.co.uk/news/world/americas/us-politics/supreme-court-ted-cruz-loan-b2080106.html
Well that’s ridiculous. SCOTUS strikes again.
Should be, but it isn’t. Our system is corrupt as fuck.