Tag Archives: donation

Myth debunked – Obama didn’t win from small donors

An interesting piece that debunks a common myth about Obama. Did he really win because of small donors?

 

Study: Many Obama Small Donors Really Weren’t

The institute found that while nearly 50 percent of Mr. Obama’s donations came in individual contributions of $200 or less, in reality, only 26 percent of the money he collected through Aug. 31 during the primary and 24 percent of his money through Oct. 15 came from contributors whose total donations added up to $200 or less.

Those figures are actually in the same range as the 25 percent President Bush raised in 2004 from donors whose contributions aggregated to $200 or less, the 20 percent Senator John F. Kerry collected from such donors and Senator John McCain’s 21 percent from the same group.

 

I guess big money is still dominant…sometimes it pays to have someone go back after-the-fact.

This myth has persisted for four years and will probably be used in the current campaign.

 

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“Text 62262 to contribute $10 to Obama” – both campaigns launch donations by text message

If you want to be a politician then you have to get online. Not just with a website but a million social media personalities and a smartphone app. To put it another way, you have to be cutting edge.

It’s no surprise, then, that the Obama campaign is open to accepting donations via text message:

Marking the beginning of what could be a revolution in U.S. campaign finance, the Obama campaign said on Thursday it is wrapping up agreements with (all major carriers) to open the floodgate for donations by text this week.

In the coming days, voters are likely to start seeing a message on video screens at Obama rallies, at the end of ads or on fliers, encouraging them “to contribute $10 to Obama for America, text GIVE to 62262.” The numbers spell out “OBAMA.”

Don’t worry Republicans you too can join in the fun, by texting 466488 or “GOMITT”.

If you ask me this could be the ultimate strategy for Obama. Have you seen how crazy people get at his rallies. They will pull out pop starts and hip hop artists, add a little punk artwork, and then boom, Obama is on stage. People will be texting away their life savings before they leave the place.

 

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Talk is cheap…so make a Long Bet (for charity) to prove your prediction

Pronouncements about the future come easy. Even when made with an air of authority, they’re usually just cheap talk, rarely revisited. Only the tiny fraction that have proven correct tend to be remembered, when their authors want to take credit.

But what if there were some cash at stake?

The Long Bets Foundation, a new project masterminded by Well founder Stewart Brand and Wired editor-at-large Kevin Kelly, hopes to raise the quality of our collective foresight by incorporating money and accountability into the process of debate.

The idea is simple. If someone makes a grandiose claim, any skeptic can challenge it – “Would you bet on that?” – and the Long Bets Foundation will keep tabs on the wager, whether it takes five years or five decades to come to pass. If proven right, a predictor can relish the victory; if wrong, the challenger gets the glory.

 

 

The Bets:

- Over a ten-year period, the S & P 500 will outperform hedge funds, when performance is measured on a basis net of fees, costs and expenses. – $1,000,000 – (Warren Buffet vs. Protege Partners, LLC)

 

- At least one human alive in the year 2000 will still be alive in 2150. – $2,000 (Peter Schwartz vs. Melody Haller)

 

- Large Hadron Collider will destroy Earth. – $1,000 (Joe Keane vs. Nick Damiano)

 

- By 2020, a professional sports team (NFL, NBA, MLB, NHL, MLS) will integrate and have a woman as a team member/player. – $500 (Thomas Leavens vs. Martin Nisenholtz)

 

- By 2025, the states will have voted on at least one constitutional amendment to cede US federal power to a global government. – $800 (Thomas Quigley vs. Steven Midgley)

 

See more on the record bets.

 

By preserving the terms of the wager in public view, Long Bets promises to be more than a service for confident prognosticators. Over time, it hopes to foster better understanding of how predictions in aggregate work out in reality – what kinds of truths are easiest (or hardest) to forecast, and what kinds of people are right (or wrong) most reliably.

According to the Long Bets Foundation, all stakes are treated as charitable donations, tax deductible when the bet is made. Bettors designate nonprofits to receive the proceeds. Meanwhile, the foundation holds the funds in an investment account for the life of the bet, with half of the growth covering administrative costs. A competition designed to thrive in the public eye, Long Bets uses time as a teacher.

via Wired, May 2002

We all pay taxes – Barack & Michelle made $800k, donated $170k, & paid $160k in taxes

As we all get finished with our taxes so do the President and First Lady. It turns out that the Obama’s came in with a 20.5% tax rate on income of $789,674 (married filing jointly), including donations worth $172,130.

The bulk of that income came from presidential salaries, $394,821, and book sales, $441,369.

In 2010, their income was $1.7 million with the increase due to book sales, and in 2009, it was more than $5.5 million from book sales and Barack’s Nobel Peace Prize award money.

In comparison, Mitt Romney pulled in an estimated $20.9 million in 2011, and is paying a %15.3 tax rate on that. It seems that both our politicians are paying lower rates than average Americans.

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