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Title: Ron Paul and Matching Funds
Source: Rockwell
URL Source: [None]
Published: Oct 1, 2007
Author: walter block
Post Date: 2007-10-01 10:40:31 by ghostdogtxn
Keywords: None
Views: 372
Comments: 15

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#10. To: ghostdogtxn (#0)

Are not the matching fund dollars the ones which the individual taxpayers can mark off on their Form 1040 as being designated for the presidential matching fund program.......and not TAX dollars.

The taxpayer has to indicate a dollar or two of their refund to go to this special pot of money?

rowdee  posted on  2007-10-01   12:10:49 ET  Reply   Untrace   Trace   Private Reply  

Found this:

The idea was revived by Senator John Pastore as an amendment to the Senate's consideration of the Revenue Act of 1971. Pastore's plan survived four days of floor debate, strong Republican opposition, and a veto threat by President Richard Nixon, which was avoided by delaying implementation until the 1976 elections. The Revenue Act of 1971 (P.L. 92-178) established today's Presidential Election Campaign Fund-a separate account in the U.S. Treasury to fund (on a voluntary basis) general election campaigns of presidential candidates who met the qualifying conditions and who agreed to abide by the national spending limit. Payments were to be made directly to candidates (unlike the 1966 Act), with full grants equal to the spending limit for major party candidates, limited grants to minor party candidates based on prior electoral strength, and post-election payments to new party candidates based on votes in that election. The Act set up a voluntary dollar checkoff on federal tax returns ($2 on joint returns), beginning with the 1972 tax year.

rowdee  posted on  2007-10-01   12:15:28 ET  Reply   Untrace   Trace   Private Reply  

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