This Post story discusses the role of political contributions. The story involves UBS of Switzerland.
Bank officials named in an unfolding Senate investigation have directed more than $2 million into this year’s congressional and presidential campaigns, some of it arriving just as investigators finished a report accusing the bank of helping clients hide billions of taxable dollars from the Internal Revenue Service.
A Fort Bend County D.A. was fined for alleged campaign finance violations, according to this report. The Texas Ethics Commission order is here.
A Calgary Herald editorial discusses proposed reforms in Canada.
We need six changes, and we need them now:
1. Limits on contributions. The amount is up for debate, but $1,000 or $1,500 per donor is a good start.
2. Limits on spending. Fifty cents per resident is fair and reasonable. It allows for an effective campaign to be run, without getting into a money war.
3. Campaign surpluses given to the city, or donated to charity. Yes, if they are donated, the candidate will get a major tax receipt, but it’s better than allowing them to simply keep the money.
4. Immediate disclosure of donations — within five business days of the donation, they should be posted on the candidate’s website.
5. Donations only in election years. Otherwise, incumbents can have three unfettered years of fundraising, leading to the question of whether donors are supporting a future election or rewarding current performance.
6. There should be a real estate registry highlighting all of a candidate’s holdings.