Tuesday, January 31, 2012

Colbert discloses Super PAC donations

Courtesy: Arylien

You just gotta love Stephen Colbert and his television persona, Stephen Colbert. Back in September 2011, he talked about Political Action Committees (PAC) on his show, The Colbert Report (T's silent) and how they could throw their weight behind a presidential candidate.
But then PACs must reveal how much they've received and name the donors to the F.E.C in a duly filled out report. However, with the formation of a 501 C(4), they need not divulge the donor's details and furthermore they can reroute the amount from that "Super PAC" back into the PAC and say that it was donated by the Super PAC, with no further questions asked.
And  thus it happened to pass that Colbert got his own Super PAC (Americans for a better tomorrow, tomorrow) and started taking in donations from fans across the US (foreign national donations are not accepted).

And today at midnight Stephen revealed in true class, the million dollar (ahem) answer to the question of how much his Super PAC raised.

One million one hundred twenty three thousand one hundred twenty one dollars and twenty four cents.

Stephen commented on this amount

,"Yeah! How you like me now, F.E.C? I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!"

And fellow comedian John Stewart was the owner of the Super PAC while Stephen was trying his hand at running for "President of the United States of South Carolina"- the reason for the transfer of ownership was because you cannot run a Super PAC while you're running for office and you can't co-ordinate directly with your Super PAC to influence or direct them.  But after failing to get on the South Carolina primary ballot, Stephen hunted down John Stewart, strung him upside down backstage and absorbed the Super PAC from John, thus becoming the owner once more. Confused? You should be. Watch this!


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