$90,000 in credit card fees

[evoorhees]

Today, Ron Paul had a moneybomb donation campaign.

As of the time of this writing, he's raised over $3,000,000, all from credit card donations. At a 3% credit card/merchant account fee, that means $90,000 was wasted tonight just to MOVE the money digitally from donor's digital currency bank accounts to Ron Paul's digital currency bank account.

$90,000!

Bitcoin, the world needs you immediately.

[Phinnaeus Gage]

That's a neat way putting it into prospective. It'll give any politician pause to see $90,000 not interring their funding stream. Would even cause a Mormon to decry, "WTF!"

[Bitcoin 100]

WTF! That's alot of money!

(Haha, Phinnaeus, I had to do it, now you can say you made a Mormon go WTF )

I wonder how much of that money will be spent by credit card on purchases for the campaign and incur another round of 3%?

Then again, how much is being donated by all the credit cards companies toward all the political candidates nationally, let alone worldwide?

[Serge]

we should thank credit cards for not charging 10% for the privilege

[notme]

we should thank credit cards for not charging 10% for the privilege

Yeah!  They're the true heros here.

[Bitcoin 100]

we should thank credit cards for not charging 10% for the privilege

Interesting! A thank you petition campaign, consisted of a collection of signatures, expressing to the credit card companies their warm-heartedness for not charging 10% for the privilege of using their services. Genius!

Of course, this would lead to the Un-Occupy Banks movement. (UOB, for short--U Otiose Bastards!)

[evoorhees]

I wonder how much of that money will be spent by credit card on purchases for the campaign and incur another round of 3%?

Now that is a very good point...

[P4man]

Then again, how much is being donated by all the credit cards companies toward all the political candidates nationally,

Good point.

let alone worldwide?

I wonder how many other countries have legalized corporate bribery. AFAIK this is pretty much a US thing.

[Bitcoin 100]

Then again, how much is being donated by all the credit cards companies toward all the political candidates nationally,

Good point.

let alone worldwide?

I wonder how many other countries have legalized corporate bribery. AFAIK this is pretty much a US thing.

Payola is not confined to just the US.

[Stephen Gornick]

Heh, the campaign can lose even more than 3% from people like me who selected PayPal as the payment method.  The fee to the recipient is 2.9% + $0.30 per-transaction.  Which keeps the rate at more than 3% for any donation under $300 USD.

[P4man]

Payola is not confined to just the US.

The sheer scale of it among functional democracies is uniquely American though, at least AFAIK everywhere else corporate donations are severely restricted and/or requiring full disclosure. Political parties receive the majority of their funds from public means and individuals, and even if they were allowed, accepting significant corporate bribes would cost them dearly in elections. Where I live political parties receive finance in function of their electorate, so they get paid for votes, not the other way around with corporations or financial elite buying votes.

[MysteryMiner]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

[ineededausername]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

fun fact: this guy is a nazi (and I'm entirely serious!)
who knew that Bitcoin would attract such people

[molecular]

Then again, how much is being donated by all the credit cards companies toward all the political candidates nationally,

Good point.

let alone worldwide?

I wonder how many other countries have legalized corporate bribery. AFAIK this is pretty much a US thing.

No, it's done everywhere. The extent of the openness varies, however.

[Phinnaeus Gage]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

fun fact: this guy is a nazi (and I'm entirely serious!)
who knew that Bitcoin would attract such people

Confused! Who you referring to as a Nazi? The writer of the post you quoted, or Obama? Personally, I care less, but am curious, hence the question.

~Bruno~

[molecular]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

fun fact: this guy is a nazi (and I'm entirely serious!)
who knew that Bitcoin would attract such people

Confused! Who you referring to as a Nazi? The writer of the post you quoted, or Obama? Personally, I care less, but am curious, hence the question.

~Bruno~

+1

and how does bitcoin come in? who did bitcoin attract?

[MysteryMiner]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

fun fact: this guy is a nazi (and I'm entirely serious!)
who knew that Bitcoin would attract such people

Confused! Who you referring to as a Nazi? The writer of the post you quoted, or Obama? Personally, I care less, but am curious, hence the question.

~Bruno~

I'm nazi. National Socialist, to be exact.

Bitcoin attracts me because it is technological brilliant idea and it gives freedom from jewish bank systems and impending new world order. Bitcoin gives freedom. I'm also a computer hacker (in both terms of this word) and the Bitcoin is a thing that has never been seen before and the change it might bring to society is hard to imagine. It will change world more than printing press and steam engine have done.

It's actually funny that someone read my posts here and remember them

[Phinnaeus Gage]

The politicans of power are not sponsored by ordinary people and credit cards. They are directed by shadowy organizations, you might call them zionists, illuminati, freemasons. The Obama is only a puppet in theyr hands.

fun fact: this guy is a nazi (and I'm entirely serious!)
who knew that Bitcoin would attract such people

Confused! Who you referring to as a Nazi? The writer of the post you quoted, or Obama? Personally, I care less, but am curious, hence the question.

~Bruno~

I'm nazi. National Socialist, to be exact.

Bitcoin attracts me because it is technological brilliant idea and it gives freedom from jewish bank systems and impending new world order. Bitcoin gives freedom. I'm also a computer hacker (in both terms of this word) and the Bitcoin is a thing that has never been seen before and the change it might bring to society is hard to imagine. It will change world more than printing press and steam engine have done.

It's actually funny that someone read my posts here and remember them

Now that that's cleared up. Personally, I don't have any qualms with you. In fact, if your were near-by, I would buy you lunch--seriously. We would possible discuss hacking together a couple 'pepper bellies', if you get my drift.

Later, MysteryMiner.

~Bruno~

[DeathAndTaxes]

Payola is not confined to just the US.

The sheer scale of it among functional democracies is uniquely American though, at least AFAIK everywhere else corporate donations are severely restricted and/or requiring full disclosure. Political parties receive the majority of their funds from public means and individuals, and even if they were allowed, accepting significant corporate bribes would cost them dearly in elections. Where I live political parties receive finance in function of their electorate, so they get paid for votes, not the other way around with corporations or financial elite buying votes.

Where do you get the idea corporations can donate unlimited funds to US politicians?  The per person/entity limit applies to corporations also.

[cbeast]

Payola is not confined to just the US.

The sheer scale of it among functional democracies is uniquely American though, at least AFAIK everywhere else corporate donations are severely restricted and/or requiring full disclosure. Political parties receive the majority of their funds from public means and individuals, and even if they were allowed, accepting significant corporate bribes would cost them dearly in elections. Where I live political parties receive finance in function of their electorate, so they get paid for votes, not the other way around with corporations or financial elite buying votes.

Where do you get the idea corporations can donate unlimited funds to US politicians?  The per person/entity limit applies to corporations also.

In the case of super PACs, unlimited donations only require the identity of the donor. The Citizens United ruling lifted the spending limits for corporations. While they don't contribute directly to the politician, they can be used to do the politician's bidding.