Perpetual congressional campaigner Ro Khanna has recently begun to compare himself to Bernie Sanders. Much media attention has been paid to his pledge to reject PAC money and his yuuuge grassroots fundraising. But if the media had bothered to look past the press releases, the numbers tell another story.
No, Ro Khanna, you are not like Bernie Sanders.
First, let’s dispel the myth that the funds raised or cash on hand is any different than where it was last election. Which was a classic “tortoise vs. hare” tale in which Khanna started strong, but his “Fat Cat” donors all maxed out early while Rep. Mike Honda continued his steady pace until the end. At the end of the race Khanna was so desperate for money to keep his office open, he accepted Walton family money funneled through a pro-charter PAC on Election Day.
This chart shows both have raised a bit more to date and have a bit less cash on hand. But considering that 35% of Khanna’s money is earmarked for the general election and 258 of his donors are maxed out, versus only 27 for Honda, it becomes apparent Khanna’s fundraising will likely peter out as last election.
Actually Bernie disagrees...
Bernie Sanders on PACs
My opponents call me a “hypocrite” for accepting PAC money. How can I accept PAC money, they say, and then claim that I am fighting against “special interests”?…
Let me be very clear about this. I do not believe that working people are a special interest. I do not believe that fighting for the right of women to control their own bodies is a special interest. I do not believe that protecting the environment is a special interest….
Bottom line. If people, including the media, do not understand the difference between one candidate who receives the bulk of his support from organizations and individuals who represent working people and the middle class, and another candidate who receives the bulk of her support from the wealthy and large corporations, then they do not know much about what goes on in Congress. I am going to do my best to prevent the wealthy and corporate interests from buying this election.
A lazy local media has taken Khanna’s “No PAC pledge” at face value. Yes, like Sanders, Rep. Honda also takes money from progressive activists PACs as well as local industry PACs. But 47%* of Khanna’s money comes from corporate executives, hedge fund, and venture capitalists types, the very “special interests” Bernie Sanders and his fellow Congressional Progressive Caucus member, Rep. Honda have spent their political lives fighting. Unlike Khanna, Sanders would never call Rep. Honda an “old-school liberal” for advocating the repeal of the George W. Bush tax cuts - for the rich.
*Note of irony: Romney donor, Marc Leder, and infamous host of the “47% video” fundraiser, is also one of Khanna’s 258 maxed out donors.
While PACs are tightly regulated with limits on who and how much can be given, super PACs have no limits. Neither Honda nor Sanders has ever had a super PAC created to specifically campaign for them. Khanna can’t make the same claim, last election a Khanna super PAC was created with a majority of its funding ($350,000) coming from a pro-charter school, anti-teacher Texas billionaire and his wife.
When “Pharma-Bro”, Martin Shkreli donated to Sanders’s campaign they gave the money to charity. Yet, despite Khanna’s pledge to return any money from law-breaking donors, maxed out donor, Guy Gecht’s donations to this and last election still remain on Khanna’s books. Guy Gecht’s “Electronics for Imaging” was fined $43,500 by the U.S. Dept. of Labor after he was caught paying foreign workers as little as $1.21 an hour.
Middle Class ?!?
Recently one of Khanna’s “middle-class” donors, Steve Schwarzmann was befuddled. Why would voters be so upset at vulture capitalists like his Blackstone Group? Maybe because after the ’08 financial crisis, using money attained through zero interest loans they bought up large swaths of foreclosed homes. This artificially drove up the home prices of entire markets, making it even harder for communities to recover.
“I find the whole thing astonishing and what’s remarkable is the amount of anger whether it’s on the Republican side or the Democratic side,” the Wall Street mogul said at the World Economic Forum in Davos. “Bernie Sanders, to me, is almost more stunning than some of what’s going on in the Republican side. How is that happening, why is that happening?”
~ Steve Schwarzmann
Blackstone partners have already given $15,800 to Khanna’s campaign. What do you think the chances are they’ll be donating to the Honda or Sanders campaigns?
Sen. Sanders is rightfully proud of his small money donors. Over 70% of his money raised was through donations of $200 or less. For Khanna, it was only 0.5%. Sanders average donation was $34. Khanna’s was closer to $2,000.
Honda raised $78,870 in small donations to Khanna’s $12,110. Nearly 90% of Khanna’s money was from donations of $2000 or above. Three-quarters of that money is from his 258 maxed out donors at $5400 each. Heck, he doesn’t need PAC money; he goes straight to the source.
Okay, maybe I’m being a bit harsh on Khanna. Surely, if I take a closer look a common thread can be found between the two. Khanna and Sanders both attended the University of Chicago and both were even mentioned in the University of Chicago’s newspaper, “The Maroon.” A young Sanders for helping to organize segregation protests in which he was arrested for civil disobedience, and a young Khanna who was forced to resign as class president after it was discovered he faked receipts “in a conscious attempt to cover up” overspending by his campaign.
Rep. Honda, during his formative years was busy studying at San Jose State University before volunteering with the Peace Corp. Afterwards, Honda returned to San Jose to work as a high-school teacher.
I don’t know Honda or Sanders personally, but I know them well enough. Ro Khanna, you’re no Rep. Honda or Sen. Sanders.
All data was complied from Federal Election Commission reports publicly available at FEC.gov.
Don’t miss our next #CA17 episode as we dig deeper into Ro Khanna’s recent endorsements and his “Fat Cat” donors …with special guests, the Koch Brothers.
