Independent political activist groups, known as 527s for the tax code provision that governs them, are gaining ground. They're more numerous, wealthier, more organized and electronically savvier. And they are about to pounce on the body politic, unleashing a torrent of mostly negative ads to influence the presidential election. Keep your mute button near.
527s are required to work independently and without direct coordination from the presidential, Senate and House candidates they seek to help. Most of their ad buys will be aimed at the presidential election.
What's unsettling is there is no accountability for content, context or accuracy. The ads are hard-edged and often accusatory -- attacking character and judgment, and you have to look or listen closely to see which group is financing the ad. Even then, the name may tell you very little about the group.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Both Barack Obama and John McCain are urging supporters not to donate to 527s, but it's out of their control. Wealthy donors can bankroll independent groups or click and donate websites. And the 527s market themselves through huge e-mail blasts and standard mail.
We're seeing some general-election ads already. MoveOn.org has this spot running on cable about a young mother saying John McCain can't have her newborn baby for a 100-year war in Iraq. The ad doesn't mention that military service is voluntary and something the young baby would presumably decide as a young man, not McCain. Nor does it mention that McCain supports a long military presence in Iraq, but not a long combat role.
A conservative 527 called Freedom Watch has an ad out attacking Democrats in Congress for doing nothing to reduce gas prices. That may be true, but the Bush White House hasn't done anything, either, largely because there's little that Washington can do in the near-term.
Votevets.org, an anti-Iraq war independent group, is planning to use veterans and former generals to attack McCain's Iraq policy. We'll have to judge the content and quality when they appear.
Look for clips of Rev. Jeremiah Wright morphing into Obama from independent groups. And maybe computer-generated K St. lobbyists swarming around McCain. A field day.
The frequency of independent ads will become much greater in August, September and October. The amount of money to be spent is unknown because 527s don't need to disclose their financing. Estimates from nonpartisan groups that study campaign finance estimate $300 million or more. That's in the range of what the McCain and Obama campaigns will spend themselves.
Perhaps it's good in the end. More voices rather than fewer informing an electorate. The lingering question, though will be whther they are really informing the voter or steering them with half truths and bombast.
-
Stock Market Today: Stocks Rally Despite Rising Geopolitical TensionThe main indexes were mixed on Tuesday but closed well off their lows after an early flight to safety.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
AI Regulation is Looming: Kiplinger Economic ForecastsEconomic Forecasts Find out what Washington and regulators have planned for artificial intelligence.
-
The Biden Tax Plan: How the Build Back Better Act Could Affect Your Tax BillPolitics Depending on your income, the Build Back Better Act recently passed by the House could boost or cut your future tax bills.
-
Kiplinger's 2020 Election ForecastPolitics For nearly a century, The Kiplinger Letter has forecasted the outcome of presidential elections to keep readers informed of what's coming and what it means for them. Here's our call for 2020.
-
The 2020 Election and Your MoneyPolitics We’ve assessed how the presidential candidates’ stances on financial issues will affect your wallet.
-
5 HEROES Act Provisions with a Good Chance of Becoming LawPolitics The massive federal stimulus bill just passed by the House of Representatives is "dead on arrival" in the Senate. But a few proposals in the bill have enough bipartisan support to eventually become law.
-
Vote by Mail: A State-by-State Guide to Absentee Ballot VotingPolitics With health authorities recommending people continue to social distance, the idea of voting by mail is becoming an increasingly hot topic.
-
9 Ways COVID-19 Will Change the 2020 ElectionsPolitics The 2020 election will be like no other in history, as the COVID-19 pandemic will upend the business of politics as usual.
-
How to Run for Local OfficePolitics If you’ve ever thought that you could do a better job than the elected officials currently in office, here’s how to launch a campaign—and win.
