Donald Trump is someone you should think carefully about before associating your financial fortunes with. This guy is definitely a good carnival barker. But when it comes to serious business, it’s a bad bet.
Many of his projects, from vodka to steaks to casinos to “college” degrees, have failed like dying fish. Declaring a company bankrupt seems to be one of his favorite pastimes. And even when he emerges from failure largely unscathed, the other parties involved aren’t always so lucky. When it comes to money, anyone still stupid enough to get into bed with it should expect the experience to end in tears.
Which leads me to gently note: Hey, Republican Party, pay attention! You are being pushed towards potential financial ruin. Red flags hit you in the face. Wake up and feel the grudge!
One might assume that a presidential candidate who commands as much devotion as Trump would be a financial boon for his party. We would be wrong. With Trump, it’s all about Trump. Other candidates and committees are left behind, left to squabble over his scraps. Which might not be a problem if the party slot machine worked smoothly. But it’s not. Whether it’s the battle for Congress or the fundamental health of state parties, the GOP is facing tough financial times, fueled in large part by the MAGA king and his minions.
Donors are nervous
The most recent campaign finance reports show his campaign coffers are significantly lighter than those of President Joe Biden. Analyzing the numbers, Axios recently noted: “The Biden campaign and the DNC ended February with more than twice as much cash ($97.5 million) as Trump and the RNC ($44.8 million). dollars). » Even though the Republican base may be seduced by Trump, many major donors are reluctant to fund his nonsense. The former president worked to close the gap, mocking potential donors as if they were contestants in the Miss Universe pageant.
Now, with Trump as the de facto candidate, some big donors will hold their noses and start paying their tributes. But how do you build a strong party when at least some of your money goes to the candidate’s eye-popping legal bills? Being indicted repeatedly costs a lot of money (over $100 million and counting in his case). The former president has so far avoided paying these expenses with his own money – legal costs are for dummies! — instead relying on donations from his fans to accounts linked to his 2020 election fraud lies. But those accounts are drying up. We must find new sources of income. Does anyone need a $59.99 Bible?
Asked in February if she thought Republican voters would support the Republican National Committee to pay Trump’s legal costs, Lara Trump, soon to be co-chair of the committee, said, “Absolutely.” I mean, what else is a good daughter-in-law supposed to say? Yet the possibility raised enough eyebrows among donors that another Trump lackey, Chris LaCivita, who now oversees the RNC’s operations, vowed that committee funds would not be used for such purposes.
Except! That doesn’t rule out rolling arrangements like an invitation to an April 6 fundraiser hosted in Palm Beach, Fla., by the Trump 47 Committee, the fundraising effort of the Trump campaign and the RNC . Individual participants can contribute up to $814,600, with donations split accordingly: The first $6,600, the maximum allowed under federal law, will go to Trump’s campaign coffers. The next $5,000 (again, the legal limit) will go to the Save America PAC, which is the primary vehicle used to pay Trump’s legal bills. The next tranche, to the tune of $413,000, will go to the RNC, which, as reported, has effectively been transformed into an affiliate of the Trump family. Whatever is left will go to party committees in different states.
Lawyers before the party
So to review: Under the new fundraising deal, the entity that handles Trump’s legal bills takes its bite before party committees receive a dime. It smells pretty good.
As you can imagine, there are better places this money could go to help Republicans this election cycle. Several state parties have been plagued by financial difficulties, including Arizona, Michigan and Georgia – conflicting states that could easily decide not only the presidential race, but also control of the Senate and House. But time and money are wasted on Trumpian drama, with factional infighting, poor leadership and, of course, legal problems.
Rarely has a political party more desperately needed a leader who can calm the waters, unify rival factions and charm the men and women of money. Instead, Republicans have lined up behind a guy who has no loyalty to the party, who only cares about how he can serve it, and who would rather strip it of parts than invest a penny in his general well-being.
At this deep point in the Trump era, no one can say they weren’t warned.
Michelle Cottle is a columnist for the New York Times.
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