The 2020 U.S. elections are the most expensive in U.S. history, but where does that money come from?

According to the New York Times, the US election campaign in 2020 broke the country’s all-time record for … expensive. The Center for Responsive Politics prediction shows that the total amount for the White House elections, as well as for control of the United States Senate this year, will reach $ 14 billion – twice as much as in the same period ago. 4 years.

In particular, the largest spending is obviously for the 2020 United States presidential election. Democratic candidate Joe Biden alone has invested $ 6.6 billion, more than the entire 2016 election campaign Much of it is spent on costs of television advertising: up to $ 1.8 billion. Meanwhile, the 2016 presidential campaign, including the primary elections, only reached 2.4 billion.

In this story we will not go into details, but will come to a more appropriate and gentle question: Where does this huge sum of money come from? Of course not from taxes and White House funds, because that is too advantageous for the incumbent president.

Where does the campaign money come from?

Per page OpenSecretsToday, the money used to run for elections comes from four main sources: individuals with donations of $ 200 or less, philanthropists who raise more money (more than $ 200), through a fundraising committee . contribution and, ultimately, out of pocket, of the candidate. There are a number of other avenues as well, such as dividends, deposit interest, or any cash earnings.

The fundraising process will begin in a period when there is a politician who has the ambition to become president of the United States. This candidate will form a committee, tasked with finding out, scouting prospects, and running fundraising campaigns. If there is no interest from the voters, the committee will automatically withdraw. If possible, they will stand for election to the most powerful president in the White House.

The requested payments must be public and legal. And in general, finances are a factor that greatly affects the ability of voters to see and vote for politicians.

According to the Center for Responsive Politics, candidate Joe Biden’s total Democratic Party spending is up to 6.9 billion, while incumbent President Donald Trump’s Republican Party is just 3.8 billion.

Source: NY Times