How to Get Rich Off NYC and Get Away With It
The simple answer is Run for Office in NYC.
The Campaign Finance System in NYC allows a candidate to receive matching funds 6 to 1 (up to $175) when they run for office.
The stipulation is that a pol would have collected small amounts from residents and can receive more from the city (this is supposed to prevent large corporations from participating in our elections).
In December, more rules came out and now there is a 8 to 1 matching program too.
What happens if the pol doesn’t use all of their money? Some may have hundreds of thousands of NYC dollars locked in their account.
Why isn’t there a provision that matching funds are returned to the city?
The rule is that the pol can use the money as they want. Now if they can find a restaurant or reception hall to say they had a party and that place writes a bill, the pol and that place can split the bill and walk away with those funds.
Since no one has asked for the return of matching funds, pols are able to abuse the program. Not only does their need to be the return of matching funds if they aren’t used, but there has to be a way to stop a pol from spending over a certain amount on “lunch, dinner, celebrations, etc.”
Here’s the real kicker: The Campaign Finance Board if composed of politicians friends…what else is new NYC?
It’s almost too easy: Run for office (choose an election where there are a lot of candidates), take out a loan for some money, distribute $175 to your friends to donate to your campaign. Then get the matching funds from NYC, lose the election, cash out at a friend’s restaurant with a high cost party.
Pols know that no one is watching because anyone who is supposed to be watching could benefit from this as well.
Hugs,
marlene
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