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Mon Feb 22, 2021, 07:24 PM

Now Ted Cruz may be buying his own books through a mystery company


(Salon) One day before the Georgia Senate runoff elections — and two days before the Capitol insurrection — a leadership PAC attached to Sen. Ted Cruz, R-Texas, paid hundreds of thousands of dollars to a mystery advertising company that had previously bought copies of Cruz's book, according to recent filings with the Federal Election Commission. The expenses raise questions about whether the controversial conservative senator (and Cancún frequent-flyer) used those political campaigns, and Donald Trump's attempt to subvert the democratic process, to raise money for himself. That could push the FEC to issue a ruling on a pending issue that could have consequences for former President Donald Trump's fundraising.

Over the course of 2020, the Cruz-affiliated Jobs, Freedom, and Security PAC paid $1.2 million — nearly 80% of its operating budget — to a company called Reagan Investments LLC for "sponsorship advertising." The only other committee to register any disbursements to that company was Trump Make America Great Again, for a fundraising promotion for Cruz's books in December, according to The New York Times.

On Jan. 4, 2021, the day Cruz traveled to Georgia before the runoff elections, his leadership PAC reported a $240,000 expense for "sponsorship advertising" to Reagan Investments, which appears to correlate with another series of small-dollar donations that poured into the PAC over the next few days. It isn't clear how much of the funds raised, if any, went to Republican runoff campaigns: Cruz's PAC only spent a few thousand dollars in support of former Sen. Kelly Loeffler. In fact, most of the contributions rolled in after the runoffs were over and as the events surrounding the Jan. 6 insurrection were playing out, while Cruz joined a handful of Republican Senators to object to the counting of Electoral College votes.

Experts tell Salon that if the money was for promotional book sales, as the filings would suggest, then the leadership PAC could be using Reagan Investments as a pass-through to allow Cruz to keep the royalties, which are generally between 10% and 15% for hardcover books, and about half that for paperbacks. Political candidates are not allowed to do that through their campaign committees. But the identity of Reagan Investments itself poses a mystery. ...............(more)

https://www.salon.com/2021/02/22/now-ted-cruz-may-be-buying-his-own-books-through-a-mystery-company/




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Reply Now Ted Cruz may be buying his own books through a mystery company (Original post)
marmar Feb 22 OP
Hoyt Feb 22 #1
Buzz cook Feb 22 #2

Response to marmar (Original post)

Mon Feb 22, 2021, 07:32 PM

1. Apparently, this is not illegal -- at least if done right. I looked it up when one of our candidates

did the same thing and I thought they were in deep trouble. Turns out it's not that uncommon. Cruz has done it before as has Romney, Palin, Ben Carson, Gingrich, and others.

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Response to marmar (Original post)

Mon Feb 22, 2021, 08:47 PM

2. Usually a donor does this.

Just anther form of legalized bribery.

Gingrich was infamous for bringing ethics charges against Democratic speaker Jim Wright for doing this and then once Gingrich became speaker he did the very same thing.

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