STUNNING: Colbert's Revelation

[FourScore]

Last edited Tue Nov 13, 2012, 01:05 PM - Edit history (2)

Tue Nov 13, 2012 at 06:51 AM PST
STUNNING: Colbert's Revelation
by The Troubadour

Last night, Stephen Colbert revealed an incredibly corrupt and nefarious aspect of the Super PAC structure, a loophole that had previously gone unnoticed.

As head of Colbert Super PAC, Stephen explained in satirical tones, with the help of his lawyer, how he now has the ability to siphon all of his PAC's remaining money to himself. Secretly. Without a need to report the funds to the IRS or anyone else, for that matter.

Watch Colbert "learn" that he can now use the PAC's money in any way he wishes due to a "legal fiction":

http://www.colbertnation.com/the-colbert-report-videos/421160/november-12-2012/colbert-super-pac-shh----secret-second-501c4---trevor-potter

Yes, the corrupting influence of Super PAC money in elections will remain a monumental problem going forward, so long as Citizens United remains.

However, this is one of the most corrupt and nefarious aspects of the Super PAC structure: the apparent ability for organizers to secretly "steal" and hide millions without a trace.

Citizens United hasn't just created a situation in which we've gone off the rails. The tracks don't even exist anymore.

http://www.dailykos.com/story/2012/11/13/1161100/-STUNNING-Colbert-s-Revelation

ON EDIT: h/t to Junkdrawer for this video link (in case the CC link gives you trouble) http://www.hulu.com/watch/424407

[AllyCat]

1. We are monumentally screwed if we do not stop CU.

[Auntie Bush]

31. That's what happens when you have more Conservatives on the SC.

We need to change the balance of power and then get CU repealed.

Trouble is...It's Dems who are most likely to retire. It will probably take a Democratic presidential win in 2016 to change the balance of power.

[Blue4Texas]

127. Scalia is 76 just saying

[tavalon]

132. From your lips to any god who care to hear it...............

Gosh, most of us dream of retiring at 65. He could go hunt ducks with Cheney.

[brush]

62. So that's what happened . . .

. . . to much of that money Rove was given. Wonder if he had a deal with Romney to stash some of the free, untraceable money in Romney's off-shore accounts . . . for a 50/50 split of course. But knowing Romney it might've been 60/40.

[Shuhered]

80. Agree-- It is scary

CU was such a broad stroke against democracy. I can't believe Scalia thought this was a good idea. It is Anti- American at its core. No coffer of cash for commercials can compete with my remote's mute button. I used it to great advantage and also listened to CDs in the car when radio got too taxing. Love you Obama!!!!

[GeorgeGist]

2. It just keeps on getting better.

[Lucinda]

3. Bookmarking for later. Thanks!

[stevenleser]

4. But is it legal to do this?

Just asking.

[progressoid]

5. Yes,

watch the video.

[Hissyspit]

96. "The Producers"

But legal, so no jail scene at the end for Max Bialystock and Leo Bloom.

[Dark n Stormy Knight]

115. Great analogy!

[stlsaxman]

119. Karl Rove & David Frum as "Max & Leo"...

http://www.democraticunderground.com/101778194

Enjoy!

[Dark n Stormy Knight]

121. Lol! Awesome.

[Please proceed]

6. I kind of like this guy Potter

He's like the magician who shows everyone the secrets of a magic trick. Even Steven made the money disappear.

[dae]

25. +1

AND welcome to DU!

[malthaussen]

86. I like him too

He may be conservative scum, but he's so gleeful about his shenanigans. I like to see somebody having fun.

-- Mal

[bongbong]

7. WOW

This country isn't just circling the drain. It has gone to the sewage plant and been processed.

As for the fix of ending Citizen's United and/or SuperPACs via Constitutional amendment - it'll NEVER happen. There are just too many billions in play. The horse has left the barn.

Use any cliche you want - the country is over. It's now just a corrupt banana republic - the biggest one in history.

[heaven05]

21. +1000

on the banana republic. Money and the love money, the curse of civilization.

[raouldukelives]

130. You got that right. Wall St and corporations will be the demise of us all.

And once again it shows the only acceptable liberal response to this madness is not assisting it. It cannot be regulated, it cannot be coerced to act with ethics, it cannot be changed from within, it cannot be trusted with our natural resources, it cannot see further than the next dividend statement.
Want to support climate change, the takeover of our democracy and the rich & powerful becoming more rich & powerful? Just turn over your money to a qualified financial adviser and with a little help from Chevron and Monsanto you'll be rolling in the dough and the world will be that much poorer for your efforts.

[tavalon]

8. Fuck, Colbert is a god damned genius

and a patriot. He is going to such lengths to show how Citizens United can be the death of a democracy.

[dogknob]

13. GENIUS: He turned my Tinfoil to gold!

I'm glad we have celebrities.

[OneGrassRoot]

15. LOL! n/t

[Spitfire of ATJ]

14. He figured the best way to expose it was from the inside....

Shows like 60 Minutes used to do this stuff.

[SDjack]

40. He's using my donation to expose this! Worth every penny. nt

[azurnoir]

65. or is he? we'll never know

sorry it was just there

[tavalon]

124. I know except we do know

We've always known. The other side didn't know and that's what made the correspondents dinner so damned priceless. That was comedy gold. I knew right then, he gave a damn.

[eShirl]

42. ain't that the truth!

[PATXgirl]

9. Just crazy.

[arcane1]

10. Kicking to watch later

I remember when he was setting up his PAC, and he and his lawyer mentioned that he could keep the extra money, but I had no idea it could be kept and yet unreported!

[1StrongBlackMan]

11. I suspect ...

rove already knew of this "loop-hole"; thereby explaining his "fund-raising" all the way up to the final days of the election (and clearly, too late for any ad buys).

Psst ... Mr. IRS, rove ... Cayman Islands ...

[bongbong]

47. ABSOLUTELY!!!!

[phone]

I keep thinking of the scene in Goodfellas where DeNiro is screaming at the clowns who started spending the Lufthansa loot too soon on Cadillacs & fur coats.

KKKarl used to drive a Jaguar. A "classy" car, altho downright cheap when you're in the Big Boy leagues. I would be looking for his aircraft hanger-full of Ferraris right about now....in a foreign country of course.

[madmom]

12. Saw this last night and was wondering

if this is where some of rover's money went?

[Junkdrawer]

16. Correct Link:

http://www.colbertnation.com/the-colbert-report-videos/421160/november-12-2012/colbert-super-pac-shh----secret-second-501c4---trevor-potter

[FourScore]

22. Thanks Junkdrawer!

Not sure how that happened! Got it fixed.

[Junkdrawer]

32. Also here: (For some reason, the CC video won't replay for me)

http://www.hulu.com/#!watch/424407

[FourScore]

43. Thanks again, Junkdrawer!

I added it to the OP in case anyone else has trouble.

[Patiod]

17. This applies only to the unspent money

All the money the SuperPACs spent on Romney ads and tea-bag Senators is still down the drain.

It's still a cesspool, but at least there's that.

[WinkyDink]

45. "remaining money" :-)

[truedelphi]

92. In Romney's case, it could be that the money is all spent -

But how will we ever ever know?

And do you really think that Newt Gingrich hasn't benefitted? He runs for office all the damn time, but rarely carries out his campaigns.

[davidpdx]

114. Well hypothetically if there was money left over in the Super Pac

They could pass it through to Romney who could then "loan" it to his campaign and simply not require it to be paid off (remember Hilary Clinton loaned money to her campaign and wrote it off. Note: I'm not knocking Clinton, just using the example of her loaning money to her campaign as part of an explanation of what Romney could do). The money could be used to pay off debts and close his campaign.

On the other hand, maybe he'll just stiff his creditors.

[slampoet]

18. So what you're saying is the Karl Rove is RICH!

[Ganja Ninja]

24. Karl is too trustworthy to pull these type of shenanigans.

Don't be silly, he would never cross a bunch of rich guys that gave him hundreds of millions of dollars.
Not Karl no way.
The thought never crossed his mind.

[Michigan Alum]

69. Let's hope he has enough money to go hide out in a remote island.

So we never have to hear from him again.

[JimDandy]

53. Koch brothers and Adelson probably covered themselves with a contract

to have any Rovian PAC money remaining after the election given to them. If they did, it would be really nauseating if the money Rove raised at the end from Repub minions was then given as reimbursement to the Repub sharks. Awful to be a losing little repub, but to be skimmed and scammed at the end too...

[freshwest]

19. Explains the bankrupt losers' list the GOP ran. Newt, especially, showed up for the $$$.

[Myrina]

23. Now we just need to find a way to get the GOP PAC donors to realize

... that they've basically been fleeced. They are so irate about anyone taking their money that should they actually realize what just happened to them, they might revolt. If we're lucky.

[PotatoChip]

59. Good point.

Give them something to be rightfully pissed about for a change.

[ret5hd]

126. Hell, those big boys are in on it. do you not think koch et al...

knew the score? they have the best lawyers. theysaid something like "i'll give you $1M, i get a deduction, you spend some of it on ads, some of it you pocket, the rest you give back to me tax free."

[Myrina]

129. Well them, yeah, but what about all the 'smaller donors' ...

... the Faux watching "small business owners" & irate individuals who pony up their donations to add to a 'bundle' ... they're not getting shit in exchange for their 'donation' ... KKKarl and Ralph Reed etc have paid themselves handsomely with that money, though.

[secondwind]

20. I'm sure Sarah Palin takes full advantage of her Super PAC money

[bongbong]

49. Well..

What do you think built her new hillbilly mansion in Alaska?

[Blue_Tires]

93. +1000

I knew every one of her shameless antics was just play-acting so she could fleece her cult of suckers for millions...I'll just never understand why they kept falling for it when Palin was SO goddamned brazen and naked about it...

The same for Ron Paul to a lesser extent -- I'd gotten blown up for it on DU at the time, but I said back in '08 that the scale of Paul's campaign/advertising/organizing was nowhere near representative of the donations that had been poured into it...To say nothing of the fact that he was such an early primary dropout; I knew he just wanted to cash out and pocket the rest just before things were getting rough...

[PoliticAverse]

26. The video discusses revealing donors, nothing mentioned about 'legal fictions' or 'siphoning' money.

[FourScore]

28. sorry. It's fixed.

somehow I posted the wrong video with the same title. Watch it now. Quite revealing.l

[MessiahRp]

107. Actually Potter does mention a legal fiction.

Listen a little closer, you'll hear it.

[Dark n Stormy Knight]

116. Yep, I heard it the first time watching it last night. Definitely says "legal fiction."

I know becasue I had to look it up. As usual, don't know how accurate this is, but it's a start. http://en.wikipedia.org/wiki/Legal_fiction

[dreamnightwind]

120. Corporations are, themselves, legal fictions

From the link you posted:

"A common example of a legal fiction is a corporation, which is regarded in many jurisdictions as a 'person' that has many of the same legal rights and responsibilities as a natural person."

That's funny. Sad, too. We need to make them illegal fictions, or legal truths, which would mean acknowledging that they are not people in any way.

[Dark n Stormy Knight]

122. I'll vote for Illegal Fiction. Both of those words fit them better, imho!

[LanternWaste]

27. Ushering in a new, high-paying American job-- the Career Candidate.

Ushering in a new, high-paying American job-- the Career Candidate (which kind of explains the longevity of political buffoons such as Palin and Gingrich)

[ChisolmTrailDem]

29. I'm going to start my own Super PAC. eom

[TheBlackAdder]

30. I knew I should have created some Super PACs last year.

Everyone else was getting in on the money train while I was just waiting at the station.

[BlancheSplanchnik]

33. jeeeeeeeeez

Well...at least it's not a secret now.

[leveymg]

34. I'm sure Karl Rove will be tuning in to this episode of the Rappor.

[tarheelsunc]

37. You're assuming Karl Rove didn't already know this...

[leveymg]

61. Literal much? ;-)

[EmeraldCityGrl]

35. K&R

Please keep this up and available...

[thelordofhell]

36. Political Money Laundering

[Whisp]

39. can this explain why Romney was so 'gracious' in his concession speech?

he was so bright eyed and bushy tailed, just like he looks when he counts his money, I bet.

[bongbong]

50. Flip-Flopper

As I watched his robotic (as ever) concession speech, I wondered if he netted less than $100 million, or more than $100 million, from his campaign.

At the absolute minimum he made $50,000,000. A money-worshiping scum like him wouldn't do it for less.

[SoCalDem]

102. This time around he probably spent little or NO money of his own

Rich people use other people's money,.,. that's how they stay rich,.

In '08 he WAS dipping into his own fortune, and that's a big reason he dropped out..

[WinkyDink]

46. BAIN CAPITAL is a money-laundering scheme, BIG-time.

[Agnosticsherbet]

38. So the law was written as an elaborate way to swindle, legally, money from people...

and make a few filthy rich SOB's filtihier and richer and leave the unaccountable.

[WillyT]

41. HUGE K & R !!!

[Baitball Blogger]

44. Term of the day: Legal fiction.

[Vox Moi]

48. Let's get metafiscal!

AH ... the strange, wonderful world of Quantum Accounting.
I checked this out with the Accounting firm of Schrodinger and Bohr and they agree that Super-PAC money can be both spent and unspent at the same time.
I thought that this discovery would effectively double my assets but every time I try to count them up I get a different total amount.
I asked the IRS about this but they say that all their tax laws are Newtonian and so they cannot answer my question.
-----
Who needs a Tax loophole when you got a Tax wormhole?

[Gabi Hayes]

103. ''We don't serve your kind in here...

A tachyon walks into a bar…."

[ProudProgressiveNow]

51. Saw that and I was amazed...

[hrmjustin]

52. This is just plain criminal that this stuff is allowed.

[hootinholler]

54. No you see, it's not criminal

That's the whole point. It should be criminal I agree, but it's not.

[hrmjustin]

55. That is the sin that it is not criminal.

[So_Blue]

56. I saw that too. Colbert's delivery is always awesome but

I couldn't help but think that it would've only been funny if it weren't true. These kind of revelations make my blood boil. One more way how the big guys have rigged a system so perfect and complicated that it can never be fixed to create a true level playing field.

Asking them to reform it.....Why would they?

[avebury]

57. K&R nt

[Nika]

58. It's stuff like this that needs to be exposed to givescope and depth to the arguments to change this

The Supreme Court really screwed us with that terrible decision on free speech and campaign money, and it simply must e fixed.

[toby jo]

60. We'll get to Citizen's United - it's too important not to

Righties are complaining that we need to 'change' this electoral college thing. Funny how that thought popped up to them with the ec map showing western states going blue by '16 with new demographies.

We tell them 'We'll get to it, we all know that ec is old school. But first...' And then we hang em for a good 10 years in our efforts to repeal Citizens. I've already signed a petition to get the amendment going here in Ohio.

One bitch at a time, guys. Wait your turn.

[Scuba]

63. Palin, Gingrich, Huckabee, et al, understand this perfectly ...

... they've been scamming their donors all along. What they do spend goes to buy their own books, and their buddies consulting services.

[nc4bo]

64. Unfuckingbelievable!! And you know this is being taken full advantage of!

And absolutely pathetic that in order to get real news, we depend on comedians to do the media's job.

[valerief]

66. Forget Clinton. Colbert should be the Secretary of Explaining Things.

He's a treasure!

[LynneSin]

67. We here in Delaware know allllll about that one

How do you think Christine O'Donnell finally made some money. She raised 6 million dollars during her campaign (in a state that takes $250k to win if you are a sane democratic candidate) and managed to save a million of it after the election was done.

All that money was moved into a Superpac and although she had some legal fees to pay off she still had about half a million left. From what I've heard she gave out a few measly donations here and there and the rest goes for salary. BTW one of her donations when to a GOP Tea Party candidate that got over 100 indictments on child molestation.

[xxqqqzme]

68. Which is why I have been

saying saurove is emperor of the grifters. Who 'knows' how many millions he controls? Who knows how many millions he spent? The remainder is all his, freely donated by his beloved RWNJ. He is the white bread Bernie Madoff. Saurove can now buy his own candidates or not.

[beachgirl2365]

70. No wonder Mittens cancelled the Credit Cards

.he just wanted to make sure that there was going to be more money for him.....................what a POS!

[CrispyQ]

71. Our electoral process stinks to the core.

From CU to electronic voting to the repubs pull trying to disenfranchise voters, it all fucking stinks.

~kick

[ReRe]

72. K&R

This is homework folks. If you can't read it now, bookmark for reading at least before days end!

[JHB]

74. Bookmarked

[ThoughtCriminal]

73. Citizens United is a dream come true for Organized Crime

Money Laundering made simple.

[a kennedy]

76. money laundering made simple and it's all legal!!

[MessiahRp]

108. Absolutely.

But that sort of makes sense considering the side that wanted this in place so badly... all of this so borders on RICO...

[PNW_Dem]

75. How much of that $300M did Karl Rove really spend?

.

[Quixote1818]

111. After this show he will have to show receipts for everything

or his body may end up at the bottom of the Hudson River.

[Octafish]

77. What cost Nixon his job is now legal.

Poppy and his crew made it so.

[AnnaLee]

78. Is this a way to permanently fund DU?

Just kidding.

[Occulus]

82. So was Colbert.

At first.

[Duval]

79. I <3 Colbert, but

DU has kept me sane for years. Love you guys, all of you.

[blackspade]

81. You have to be fucking kidding me!

So the super PACs are just a scam.

Now we know how Rove was 'paid.'

[Xyzse]

83. Impressive... Which begs me to ask the question

Rove... Where is the Money?

[RepublicansRZombies]

84. Thank God for Colbert!

He has done more to educate to Americans than all of the 'news' media combined.

[jorno67]

85. Yeah remeber when the Comedians entertained and Journalist informed

[RepublicansRZombies]

89. now the comedians are entertaining us with information

and the journalists are doing what exactly? because it certainly isn't entertaining nor informative....

[sevenseas]

100. Good One.

[Divine Discontent]

87. stunning... the corrupt system in full display. saw a TV news report on making a living off of

politics... well, there ya Go!

[HiPointDem]

88. kr

[BadgerKid]

90. Interesting that this comes out just as Boehner says ACA is "law of the land."

SCOTUS has held up ACA and Citizen's United.

[snagglepuss]

91. .

[patrice]

94. Sharing.

[myrna minx]

95. Breathtaking. K&R

[Uncle Joe]

97. Kicked and recommended.

Thanks for the thread, FourScore.

[glinda]

98. K & R n/t

[secondvariety]

99. I think

I'm gonna puke..

[tclambert]

101. So, Karl Rove's Super PAC can make him very, very, secretly rich?

Now things are getting a little clearer.

[aquart]

110. I hope the billionaire suckers are really pissed off.

[defacto7]

104. This is a huge Kick....

I just wish I could kick it to the Justice Department for review of the PACs themselves or right into the face of Congress. Congress is the only entity that can break this injustice to Americans.

[Up2Late]

105. Definitely a "Must see" video

It's no wonder that a lot of Rove's big donors want their money back.

[ltheghost]

106. MIND BLOWN

So hypothetically. Say you were a big time drug dealer. And you gave your money to a Super Pac, they don't have to report who gave them money, they can keep it, and it will not be reported to the IRS!?!? Man, Citizens United pretty much legalized money laundering!

[geckosfeet]

109. Oh yeah. Tell me again how great the super pacs are for politics.

[Kablooie]

112. Cool! I'm going to start up some super pacs next election and get rich! 1% here I come!! Yahoo!!

[lordsummerisle]

113. I can't

seem to watch videos on Comedy Central. Whenever I try all I get is a black screen...

[Iwillnevergiveup]

117. Almost 189,000 views of this segment on Colbert

And that's a good thing. Hey hey, ho ho...CU has got to go!

[fun n serious]

118. freepers believe Romney was a fraud

http://www.freerepublic.com/focus/f-bloggers/2959236/posts#comment

[Major Hogwash]

123. This is why Sister Sarah started her own Super PAC.

And Christine "I'm not a witch" O'Donnell.

[hay rick]

125. Astonishing.

Colbert is a treasure.

[Earth_First]

128. HOLY!FUCKING!SHIT!

[tavalon]

131. Just one more kick for awesomeness