Tuesday, November 13, 2012

Stephen Colbert Exposed Super PACs As Bottomless Money Pits, Killed a Ham

Posted By on Tue, Nov 13, 2012 at 12:30 PM

Say what you will about Comedy Central's Stephen Colbert, the Colbert Report and his cohorts over at The Daily Show, but his work satirizing the existence of Super PACs and political ads this election cycle (and "supporting" Herman Cain) was fantastic.

But now, with the election over, the Colbert Super PAC known as Americans for a Better Tomorrow, Tomorrow, has to come to an end. The problem is, what happens to the money? It turns out, Colbert's lawyer, Trevor Potter (former general counsel to John McCain's political campaigns) has a few ideas:

To summarize, it turns out that after Super PACs and their accompanying 501(c)(4)s have outlived their usefulness as giant, nigh-untraceable houses in which candidates and their donors can support each other without actually supporting each other, they can become giant, nigh-untraceable black holes of money, from which the government may never see a dime.

It's enough to make you want to hug an eagle in an Uncle Sam costume.

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