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Musk is proof we need campaign finance reform

WASHINGTON — Elon Musk is clearly the “poster child” for why the nation needs campaign finance reform. He boasts that President Donald Trump would not have won and the Republicans would not control Congress without him and that Trump was being so “ungrateful.” It became ugly. Subject matter? The deficit spending in the so-called Big Beautiful Bill.

Let us remember the facts. Despite the incessant claim of a huge mandate, Trump got just 49.8% of the popular vote. Out of over 152 million votes cast, he won four swing states by a total of only 275,000 votes, making it a razor thin election.

What we witnessed recently was to a degree inevitable, but no less earth moving. You had the wealthiest man in the world and the most powerful man in the world fighting each other like seventh graders. However, instead of throwing erasers at each other, they threw threats around and made outrageous charges against one another, even questioning the other’s mental stability.

Days have passed, the subject in the news has changed but the scars for the general public can still be seen.

The near carte blanche access Musk had in our government with his initial team of kiddie corp. “whiz kids” were always troubling as we trusted but did not verify his actions.

For example, even Trump was shocked and in dismay when Secretary of Defense Pete Hegseth was allegedly considering allowing Musk into a high-level meeting to review our war plans against China, which happens to be a major source of Musk’s business. Trump said at the time that Musk gaining such knowledge would not be good for America.

Trump has now recognized that he could save billions by terminating federal contracts for Musk’s companies, including our space program. I am sure Trump was simply trying to make a point or issue a warning to Musk.

We may never know all the vital information Musk and his team have accumulated from the federal government, or how he could potentially use this data for his own benefit or for revenge. What was clear from last week’s explosion is that Musk can be vindictive as well as volatile. All of it is not good for America.

As each needs “the other,” I am sure they will return to mutual admiration in due time.

I claimed in past columns that the fear of placing too much trust and confidence in a man from South Africa whose business model has been the opposite of what is needed to advance a nation.

The government thrives on increasing its tax rolls via having more and more people working from all sectors of society. The business sector thrives by cutting people at certain times (AI is in our future). Thus it lowers overhead to reduce costs of products and services, driving more profits. The two objectives are not compatible.

They do hold in common eliminating waste, fraud and abuse. But that would apply to one’s household budget as well. No sane person would throw money out the window carelessly.

Added to Musk’s financial campaign support there are also the three billionaires who became cabinet members after contributing together approximately $50 million and it does make you pause.

Among the threats from Musk includes his working to defeat all the GOP Senators and I presume House members who have or will vote for the bill in its present form. Now there is plenty of time for debate and changes to the bill to come, so stay tuned.

Back during my time in the House there was a collective fear from GOP members over the independent expenditures (outside money) coming from the labor unions. Today, they maxed out at a fraction of what Musk has contributed.

Let’s review the fundraising totals.

In 2024 Trump raised $463 million in individual contributions. This paled in comparison to Vice President Kamala Harris’s $1.2 billion. But Trump was able to surpass Harris in outside money, money that Musk contributed to a large degree. Here Trump cashed in on $989 million to Harris’s $843 million. So there is some credence to Musk’s claim.

Where would Trump be without Musk’s nearly $300 million and from Space X, a company owned by Musk, another $275 million (Republican candidates for Congress received a portion)?

Let us compare that to other elections. Former President Joe Biden also out-raised Trump. He had $1.1 billion in individual contributions and $580 million from outside sources. Trump had just $774 million and just $313 million from outside contributions. Musk did not participate in helping Trump in 2020 and it shows.

The biggest contrast comes from former President Barack Obama’s campaign efforts against Romney. For starters, 88% of Obama’s money came from individuals. In 2012 Obama raised $739 million from individuals and only $75 million from outside sources – compared to Romney’s paltry $483 million. Romney almost doubled Obama’s outside totals for $145 million, however.

This is a much better scenario versus the appearance of being beholden to someone or a handful of super rich folks who may hold unrealistic expectations in exchange for their support. This could be the reason that Republicans seem determined to give them a tax cut.

It must be noted that Trump in 2024 raised less money than Romney did in 2012 from individual contributions, and Trump raised far less than he raised in 2020. It would seem that he needed someone like Musk.

And months later Musk literally was given the symbolic keys to the White House.

Yes, undoubtedly, we need campaign finance reform. The GOP has been out spent in the last five presidential elections. If we relish having billionaires control the messaging and campaigns in the future it will not bode well for America.

Our democracy is not intended for one unelected person to be able to bend  elections to his wishes.

Heck, let’s not forget that Musk was walking a fine line in voter encouragement when he actually gave a person from Wisconsin a “modest” $1 million. Oh well.

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Gary Franks served three terms as a congressman from Connecticut’s 5th District. He was the first Black conservative elected to Congress and first Black Republican elected to the House in nearly 60 years. Host: Podcast “We Speak Frankly” www.garyfranksphilanthropy.org

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