Elections cost BIG bucks. 💸 From candidate rallies all the way down to those political lawn signs, there’s a price tag on it all. 🏷️
The cost of elections isn’t always cut and dry, so we thought we’d round up some facts on how much money’s flying around. It might impact you more than you think! 🤔
Here’s Five Fast Facts on the cost of elections:
- ☑️ Vote For Pedro - Back in the day, campaign ads were limited to TV, radio, and good old fashioned print. Today, the internet completely blew the lid off and gave advertisers a ton more opportunities. This has also jacked up the spend on campaign ads with fewer regulations. One of the hottest ad opportunities is Connected TV (CTV) advertising, AKA those ads you see on your digital free TV channels.
- 📈 Ad It Up - Each year, the money campaigns spend on ads goes up big time. Compared to the 2020 election, ad spend on U.S. elections and advocacy is expected to grow to just under $16 billion, a 31.2% increase.
- 🤑 Pay to Play - Back in 2010, the Supreme Court rolled out the Citizens United decision where they ruled it unconstitutional to limit the money corporations and unions spend on elections. This makes running for office expensive AF. In 2020, the average House candidate needed $2.4 million to win, up from $1.4 million in 2008. The average Senate candidate needed $27.2 million in 2020, up from $8.5 million in 2008.
- 🗳️ UnPACking It - What the heck is a PAC anyway? Political action committees, or PACs, represent specific business interests or ideologies. They raise and spend money to elect and defeat candidates. Super PACs are independent and they don’t give candidates money, which means they can raise huge amounts of cash without contribution limits. In 2022, 2,476 super PACs raised over $2.7 billion and spent over $1.3 billion.
- 💅 I Mean, Why Not? - Overwhelmed with the political hot mess? You’re not alone. Over the last 30 years, the number of people with unfavorable views of both major political parties has more than quadrupled. Data also shows that when people feel more negative about the nation, they may be more likely to soothe the pain through expensive treats and vacations.
🔥Bottom line: Hey, we’re just out here trying to fill a grocery cart for under $100. We wish someone would PAC our trunks full of goodies for free. Looking for the best place to find facts? Check out this article on how to fact check like a pro.
What’s your take on election costs?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
