Comedy Central’s “Colbert Super PAC”

Summary

Stephen Colbert humorously discusses the world of political action committees (PACs) and super PACs, emphasizing the challenges he faces in creating his own PAC. After his attempt to form Colbert PAC is blocked by Viacom's potential in-kind donation, he learns about super PACs, which allow for unlimited corporate and individual donations. With the help of attorney Trevor Potter, Colbert takes the necessary steps to convert his PAC into a super PAC, creating a comedic but insightful commentary on the influence of money in politics and the absurdities of campaign financing.

Takeaways

• 😀 Colbert humorously introduces the concept of Political Action Committees (PACs) and their role in promoting political candidates and issues.
• 😀 PACs can raise significant funds and be used for political ads, which must be created without candidate involvement or permission.
• 😀 Colbert's creation of Colbert PAC is a satirical move to engage his audience in political action and fundraising.
• 😀 Viacom, the parent company of Colbert's network, intervenes, stating that its resources (e.g., airtime and staff) could be considered an illegal in-kind contribution to Colbert PAC.
• 😀 Colbert's PAC idea is thwarted by legal concerns, but he is introduced to the concept of a Super PAC as a potential workaround.
• 😀 A Super PAC can raise unlimited amounts of money, including from corporations and labor unions, due to the *Citizens United* Supreme Court decision.
• 😀 The FEC (Federal Election Commission) allows a PAC to become a Super PAC by submitting a simple cover letter, not requiring new forms.
• 😀 Colbert is excited by the idea of creating a Super PAC with unlimited funds, which he humorously refers to as a poetic concept.
• 😀 Colbert’s intern is tasked with delivering the necessary paperwork to Washington, D.C., adding to the comedic absurdity of the situation.
• 😀 The segment emphasizes the loopholes in U.S. political funding laws and mocks the influence of corporations on political campaigns.
• 😀 Colbert's legal advisor, Trevor Potter, provides key insights into the legal structure of PACs and Super PACs, helping Colbert navigate the process.

Q & A

What are the three things a Republican candidate needs to replace Obama?

A Republican candidate needs vision, leadership, and enough cash to make up for not having vision or leadership.

What is a PAC, and how does it work?

A PAC (Political Action Committee) is a private group of like-minded citizens formed to promote a candidate or an issue. Once a PAC raises enough donations, it can influence elections and campaigns by buying exposure through ads and other means.

Why is Colbert forming a PAC?

Colbert is forming a PAC (Colbert PAC) to raise awareness of issues, endorse candidates, and run political ads without the candidate's participation or permission, as required by law.

What legal issue arises with Colbert PAC and Viacom?

The legal issue arises from Viacom potentially making an 'in-kind' donation to Colbert PAC through resources like air time and staff, which could be considered an illegal contribution from a corporation to a PAC.

What is an in-kind donation in the context of a PAC?

An in-kind donation refers to non-monetary contributions, such as providing resources or services, like air time or staff, which have a cost associated with them.

What is a super PAC, and how is it different from a regular PAC?

A super PAC is an independent expenditure-only committee that can raise unlimited amounts of money from individuals, corporations, and labor unions to influence elections, unlike a regular PAC, which has restrictions on the amount of money it can raise and receive.

What did the Supreme Court's decision in the Citizens United case allow?

The Supreme Court's decision in Citizens United allowed corporations to spend unlimited money on political issues, as money is considered a form of free speech.

What forms are required to start a super PAC?

To start a super PAC, the same forms as a regular PAC are used, but with a cover letter stating the PAC intends to make independent expenditures in line with the Supreme Court's decision in Citizens United.

What is the key difference between the regular PAC and the super PAC forms?

The key difference is that a super PAC form requires a cover letter stating that the PAC will raise unlimited funds from individuals, corporations, and labor unions, as opposed to the regular PAC form that has more restrictions.

How does Colbert's team plan to submit the super PAC paperwork?

Colbert plans to send the super PAC paperwork in an envelope with the cover letter to the Federal Election Commission (FEC), officially declaring the PAC as a super PAC.