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Trump, Sanders emerge top fundraisers in US race
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IANS | 17 Apr, 2019
The two aspirants for the party nominations for the 2020 presidential
elections from the two extreme ends of the electoral spectrum, US
President Donald Trump and self-described socialist Bernie Sanders, are
leading the race in poll fund-raising.
According to their
campaign finance filings for the first quarter, Trump's war chest is
about $30 million, while Senator Sanders, vying for the Democratic Party
nomination, has collected $18 million.
Senator Kamala Harris is
behind them with $12 million, followed by Beto O'Rourke with $9.4
million, Pete Buttigieg with $7.1 million and Senator Elizabeth Warren
with $6 million.
O'Rourke, a former Representative, was defeated
in his Senate run from Texas last year, while Buttigieg is Mayor of a
small university town in Indiana state. But they have received a lot of
positive publicity in the media.
Fund-raising is considered a
sign of popularity and is one of the markers for selecting participants
for the Democratic Party's televised debate among candidates starting in
June.
Former Vice-President Joe Biden, leading the opinion polls
for the Democratic nomination, is yet to officially announce his
candidature and has not raised funds.
The 16 Democratic Party
candidates, for whom the filings are available, have together collected
about $80 million, which is far higher than Trump's election haul. But
they suffer a serious handicap against Trump.
The Democratic
candidates will be using most of their funds till the middle of next
year to fight each other during primaries to be anointed the party
candidate at the convention in July 2020, rather than Trump. About 20
candidates are vying for the Democratic Party nomination.
Trump
has a huge advantage because he does not have a serious challenger for
the Republican nomination -- and, if none emerge, he will not have to
spend funds on the primary, leaving him with a larger pool for
re-election campaign.
Whatever he spends during primaries will, in effect, also contribute to building his image for re-election.
His
fundraising also displayed his continuing attraction among middle class
and working class Americans. Although Trump is perceived to be aligned
with big business, he got nearly 99 per cent of his funds from
individuals contributing $200 or less, with the average being under $35.
Like
Trump, Sanders had a strong showing with his base that is almost
similar if politically polar opposite. He has received 84 per cent of
his funds from people sending less than $200, with the average being
$20.
The average size of Harris' donation was higher than the
other two at $55. She is from California and is a favourite of
Hollywood, according to Politico. She received $2,800 from Ben Affleck,
$5,600 from Elizabeth Banks and $5,400 from Eva Longoria Baston,
according to Politico.
Under the US laws, the maximum
contribution a person can make to a candidate is $2,700 for each
election and it is likely that the actors' contributions include
donations for previous elections.
Among candidates hoping to run
in the 2020 elections, billionaire Trump is the richest, although the
extent of his wealth is not known. He has claimed to have assets worth
$10 billion, while other estimates have put it at $3 billion. Since he
has refused to release his income tax returns, the real numbers are not
known.
Harris is the richest, according to her tax returns, which
showed an income of $1.9 million last year. Senator Elizabeth Warren
came next with $846,000 and Sanders with $516,000.
Sanders,
however, crossed the million-dollar mark in 2016. He made most of the
money from royalties for his book, "Our Revolution: A Future to Believe
In", earning $2 million over three years.
Sanders, who promotes
himself as a socialist and the common man's candidate, was unapologetic
about his wealth. He said on Monday on a Fox TV programme: "If anyone
thinks I should apologise for writing a bestselling book, I'm sorry, I'm
not going to do that".
Harris also made money off her book, "The Truths We Hold", a memoir. She reported earning $733,000 from it last year.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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