Fascinating to look at today's Washington Post and see an article predicting the financing that will be required of a presidential candidate in 2008. From the Post article:
Michael E. Toner, the chairman of the Federal Election Commission, has some friendly advice for presidential candidates who plan to be taken seriously by the time nominating contests start in early 2008: Bring your wallet.
"There is a growing sense that there is going to be a $100 million entry fee at the end of 2007 to be considered a serious candidate," Toner said in a recent interview.
And who's picture is there to accompany the article? Why, it's John McCain, co-author of McCain-Feingold, one of the badly misnamed campaign finance 'reform' laws. The reason?
One of the least known but most important dimensions of the early competition to raise cash is securing the support of men and women who have proven effective in the past at raising large sums -- usually from a well-tended network of business associates, corporate subordinates and clients.
The 2004 Bush campaign designated these people as "Pioneers" (raised $100,000), "Rangers" ($200,000) and "Super Rangers" ($300,000).
Texas lawyer Thomas G. Loeffler, a Bush Ranger in 2004, has already signed on to help Sen. John McCain (R-Ariz.) in 2008; Northern Virginia real estate developer Dwight C. Schar, a Ranger in 2004, was on the host committee for a Super Bowl fundraiser to benefit Sen. George Allen (R-Va.). A senior GOP strategist said these Bush backers undoubtedly are "being swarmed over" by the president's would-be successors.
McCain plays the populist, but is no such thing. Drafting the laws regarding campaign finance and then running for President is very clever. It certainly gives you an inside track.
Thanks for 'taking the money out of elections', John!