The media made a lot of noise about Mitt Romney’s big June of campaign donations where his campaign was able to outraise the Obama campaign $106M to $71M. What the U.S. media failed to do, after all they had to contend with the Tom/Katie break up, was dig a little deeper into the numbers. Here is a quick breakdown:
· 98% of President Obama’s June donations were for $250 or less. 94% for Olympic organizer and government bail-out recipient Mitt Romney.
· The average amount of a donation to President Obama’s campaign was $52. The average for Swiss Mitt’s campaign was $190.
· $84million (out of $106million)of Governor Etch-A-Sketch’s take came from donations averaging $2,400.
· 80% of the donations to the King of Bain’s campaign came from just 6% of the total count of donations.
· Only 11% of the donations to the Rafalca for 1st Horse Campaign came from people donating <$200 whereas 41% of President Obama’s donations were for <$200.
· 706,000 people donated to President Obama’s campaign versus only 560,000 donors to the Romney campaign
What does tell us? Here are some conclusions:
· Romney’s base, if that’s what you want to call it, is almost exclusively coming from big time wealthy investors. Not a broad base, more like a leaning tower.
· President Obama’s base is much broader and diversified.
· The surge in Romney’s fund raising correlates to him vanquishing his Republican opponents.
As Bill Allison of the Sunlight Foundation points out “Romney’s problem is that he has been raising money from big donors and they are maxing out, and eventually he’s going to run out of rich guys. Obama relies on small donors and he will be able to go back to them for $10 or $25 all the way to the end.”
Perhaps the real story is that Romney is indeed the candidate of the 1% and President Obama is the candidate of the 99%. After all money talks.