Tag Archives: Bernie

Beto O'Rourke raises $6.1m in first 24 hours, smashing Bernie Sanders' record

Beto O'Rourke raises $  6.1m in first 24 hours, smashing Bernie Sanders' recordStunning sum is more than every other Democratic challenger who has disclosed their first-day totals The former Texas congressman, like Sanders and some of his other colleagues, has shunned Pac donations of any kind. Photograph: Kathy Willens/APDemocratic hopeful Beto O’Rourke raised an unprecedented $ 6.1m during the first 24 hours of his official run for the White House, his campaign announced on Monday.The stunning sum is more than rival Bernie Sanders and every other 2020 Democratic challenger who has disclosed their first-day fundraising totals. His campaign did not immediately disclose the number of donors who contributed or the average size of the contribution.“In just 24 hours, Americans across this country came together to prove that it is possible to run a true grassroots campaign for president – a campaign by all of us, for all of us, that answers not to the Pacs, corporations and special interests but to the people,” O’Rourke said in a statement.Sign up for the US morning briefing The former Texas congressman, like Sanders and some of his other colleagues, has shunned Pac donations of any kind. He did not rule out holding fundraisers.At this stage in the primary contest, when polling typically reflects name recognition, early fundraising figures are an early test of a candidate’s strength and depth of support. For O’Rourke, the initial numbers are an indication of whether he can hold onto the support that powered his unexpectedly strong Senate challenge against incumbent Republican senator Ted Cruz last year.The first-day haul also reflects O’Rourke’s remarkable rise from little-known congressman from the border town of El Paso to a national Democratic star after narrowly losing his Senate bid. During his 2018 Senate campaign, O’Rourke shattered records when he raised a historic $ 38m in just one quarter. Average donations were about $ 47.O’Rourke formally entered the crowded Democratic primary last week after a months-long deliberation that included a five-state road trip across the American south-west, which he journaled in “Dear diary”– style posts on Medium. His rhetorical style and charismatic message has drawn comparisons to Barack Obama, but he has met resistance among some progressive activists who are critical of his ambiguity on policy.Small-dollar donations are increasingly important to Democratic candidates as the party escalates its battle against big money in politics. For the first time, the Democratic National Committee has established a grassroots fundraising threshold to participate in the party’s televised primary debates.Cory Booker, New Jersey senatorBooker first made a name as the hands-on mayor of Newark. Known for his focus on criminal justice reform and impassioned speeches on immigration, he has though been criticized for ties to Wall Street.Pete Buttigieg, South Bend mayorButtigieg wants to be the first openly gay millennial president. A Harvard graduate and Rhodes scholar, he became the youngest mayor of a mid-size US city at the age of 29. As a Navy Reserve lieutenant he deployed to Afghanistan while serving as mayor.Julián Castro, former housing and urban development secretaryCastro casts himself as an antidote to Trump and the adminstration's hardline immigration policies. The grandson of a Mexican immigrant and raised by single mother, the 44-year-old Democrat is one of the most prominent Latinos in Democratic politics.John Delaney, former Maryland congressmanHe has delivered his message of pragmatism to voters in all 99 of Iowa’s counties since he officially kicked off the race in July 2017. The multimillionaire banking entrepreneur wants to build a big-tent party that appeals to independents and moderate Republicans.Tulsi Gabbard, Hawaii congresswomanAn Iraq war veteran who has vowed to run a campaign focused on issues of “war and peace”. Gabbard made history as the first Samoan American and the first Hindu elected to Congress. But she has drawn criticism for meeting with Syria’s president Bashar al-Assad, and progressives are wary of her past conservative views on on social issues.Kirsten Gillibrand, New York senatorYears before the MeToo movement, the New York senator was leading efforts in Congress to combat sexual assault in the military and on college campuses. The former corporate lawyer has embraced a slate of economic ideas supported by the party’s progressive wing.Kamala Harris, California senatorHarris is one of Trump’s fiercest critics, and has built a national reputation grilling administration officials during their confirmation hearings. A former state attorney general and the daughter of immigrants from India and Jamaica, Harris believes she has the unique profile to take on Trump.John Hickenlooper, former Governor of ColoradoBefore he served two terms as governor of Colorado, the 67-year-old Democrat worked as a geologist for a petroleum company. After a lay off, he switched careers and opened a successful brewpub in Denver that helped to revitalize the city’s downtown.Jay Inslee, Governor of WashingtonInslee is running as the “only candidate who will make defeating climate change our nation’s number one priority”. As the country experiences more powerful hurricanes, scorching wildfires and submerged coastlines, polls show public concern is growing.Amy Klobuchar, Minnesota senatorOn Election Night 2018, Klobuchar coasted to a third term as senator in a state Trump almost won. Next morning she was on every short list of potential presidential candidates. Supporters say her success with rural voters makes her a formidable candidate in the Rust Belt, while her calm demeanour provides a clear contrast with Trump.Beto O'Rourke, former Texas congressmanA one-time guitarist for an El Paso punk band called Foss, O’Rourke had kept a relatively low profile as a three-term congressman with little name recognition. He rose to national prominence during the 2018 midterms, when his bid to unseat Senator Ted Cruz garnered unprecedented grassroots support and a historic fundraising haul.Bernie Sanders, Vermont senatorSanders turned a long-shot, anti-establishment bid for the presidency into a “political revolution” that energized the party’s progressive base. His political career began nearly 40 years ago, but it wasn’t until his 2016 run that Sanders became a national figure as a new generation of Democrats – and 2020 contenders – embraced his populist economic policies.Elizabeth Warren, Massachusetts senatorHer sharp criticism of Wall Street and big corporations has made Warren a favorite among progressive activists, and she will campaign on a message of a rigged economic system and income inequality.Marianne Williamson, authorThis is not the spiritual guru and a new age author’s first foray into politics: in 2014, she mounted an unsuccessful congressional bid in California. Her entry adds some star-power to the race that may attract more celebrities.Andrew Yang, businessmanA former tech executive and entrepreneur running the longest of long shot campaigns centered on the perils of automation. His central plank is a plan to give every American adult a salary of $ 1,000 per month, paid for by a tax on companies that benefit the most from automation.Lauren Gambino and Sam Morris Despite hinting on the campaign trail this weekend that he may not want to release his totals, O’Rourke’s $ 6.1m haul sets him apart in a sprawling field that has swelled to 16 Democrats.Sanders entered the race with the largest donor list of any candidate running – one that he developed while running for president in 2016. Even so, he stunned political observers last month when he announced that his campaign had raised $ 5.9m in his first 24 hours as a presidential candidate.California senator Kamala Harris raised more than the $ 1.5m in the first 24 hours of her campaign. Before Sanders entered the race, Harris claimed the biggest first-day fundraising total, which matched what the Vermont senator raised in April 2015 after he launched his bid for the nomination that year.Lesser-known candidates such as Minnesota senator Amy Klobuchar and former Colorado governor John Hickenlooper, each reported earning $ 1m in the first 48 hours of their campaigns, while Washington governor Jay Inslee said his campaign had raised more than $ 1m three days after he entered the race.



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Ilhan Omar comments: Bernie Sanders and Alexandria Ocasio-Cortez defend congresswoman over anti-semitism claims

Ilhan Omar comments: Bernie Sanders and Alexandria Ocasio-Cortez defend congresswoman over anti-semitism claimsProminent progressives including Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez have come to the defence of Representative Ilhan Omar amid controversy following her criticism of pro-Israel groups and politicians, which some have deemed anti-semitic. Mr Sanders, who is Jewish, said that he believes the attacks on Ms Omar are aimed at silencing discussion of American foreign policy with regards to Israel. “What I fear is going on in the House now is an effort to target Congresswoman Omar as a way of stifling that debate,” Mr Sanders, who is top democratic presidential candidate, said in a statement.



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Bernie Sanders on 'The Breakfast Club' is a 'no' on slavery reparations

Bernie Sanders on 'The Breakfast Club' is a 'no' on slavery reparationsThe Vermont senator has spent the first few weeks of his Democratic presidential campaign trying to connect with African-American voters, something he largely failed to do in 2016.



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Bernie Sanders gets personal as he hits the 2020 campaign trail

Bernie Sanders gets personal as he hits the 2020 campaign trailAt a rally in Brooklyn, near the New York City neighborhood where he grew up in a small, rent-controlled apartment, Sanders contrasted his spare upbringing with Republican President Donald Trump’s privileged youth as the son of a New York real estate developer. “My experience as a kid, living in a family that struggled economically, powerfully influenced my life and my values,” Sanders said at a campaign kickoff rally at Brooklyn College, where he once attended classes. “Unlike Donald Trump, who shut down the government and left 800,000 federal employees without income to pay the bills, I know what it’s like to be in a family that lives paycheck to paycheck,” he said.



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It's Bernie 2.0: More professional, more personal this time

It's Bernie 2.0: More professional, more personal this timeNEW YORK (AP) — A young civil rights activist named Bernard Sanders was arrested and dragged off to jail for protesting school segregation on the South Side of Chicago in the summer of 1963.



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Bernie Sanders: Government ‘Cannot Go Too Far’ in Addressing Climate Change

Bernie Sanders: Government ‘Cannot Go Too Far’ in Addressing Climate ChangeSenator Bernie Sanders (D., Vt.) dismissed Friday the notion that the recently introduced Green New Deal plan is extreme and unrealistic, arguing instead that there is no action too drastic for the government to take to address climate change.“Does the Green New Deal go too far?” Sunny Hostin asked Sanders Friday on ABC's The View. “No. You cannot go too far on the issue of climate change. The future of the planet is at stake, ok? . . . According to the best scientists in the world, we have twelve years to begin substantially cutting carbon emissions,” Sanders responded.Hostin also pressed Sanders on Representative Alexandria Ocasio-Cortez's recent suggestion that couples are rightfully hesitant to have children because of the threat of climate change.“[Ocasio-Cortez] claimed that the looming threat of climate change that continues to exacerbate global conflicts has gotten so dire that it is a legitimate question to ask whether it is moral for people to have children now. Does she have a point there or is that too radical?” Hostin asked.“Obviously that's an enormously personal choice that every couple is going to have to make,” Sanders said before redirecting the conversation to President Trump's past skepticism of the threat posed by climate change.“In terms of a couple's decision that they make, that is their decision. Couples make a lot of decisions in terms of whether they're going to have kids. Often it's economic and there are other factors as well,” he later added.> Asked if climate change proposals like the multi-trillion dollar Green New Deal that Dems such as socialist @AOC are proposing are too “radical” to support, Bernie Sanders pushes back by saying “you cannot go too far on the issue.” pic.twitter.com/1lvd6JtoST> > — Steve Guest (@SteveGuest) March 1, 2019Ocasio-Cortez joined Senator Ed Markey (D., Mass.) in introducing the Green New Deal resolution to much fanfare in early February. The proposal promises to transition all sectors of the economy to renewable (but non-nuclear) energy within ten years while providing millions of jobs building the clean energy infrastructure necessary to replace our existing system.The proposal, which Majority Leader Mitch McConnell has announced the Senate will vote on, does not suggest any revenue-raising measures, but rather relies on credit, extended by “public banks,” to finance its reforms.Sanders is joined in endorsing the Green New Deal by a substantial majority of the 2020 Democratic primary field.



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Bernie Sanders’s former media strategists split from his 2020 presidential campaign

Bernie Sanders’s former media strategists split from his 2020 presidential campaignThe group includes Sanders's former chief strategist, Tad Devine, who has not been in touch with him since the close of the election in 2016.



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Top strategists split from Bernie Sanders for his 2020 White House run

Top strategists split from Bernie Sanders for his 2020 White House runProminent consultants Tad Devine, Mark Longabaugh and Julian Mulvey, who played leading roles in Sanders’ insurgent 2016 presidential campaign, said they would not work on the Vermont senator’s 2020 bid for the Democratic nomination, which was launched last week. “We are leaving because we believe that Senator Sanders deserves to have media consultants who share his creative vision for the campaign,” the three said in a joint statement. It also put together the video that Sanders used to launch his 2020 campaign, and advised Sanders on his announcement schedule and rollout, Longabaugh said.



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2020 Vision: Bernie Sanders launches, like a rocket

2020 Vision: Bernie Sanders launches, like a rocketVermont Sen. Bernie Sanders jumps into the race, raises $ 6 million and immediately mixes it up with the president.



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Chuck Schumer and Bernie Sanders Have a Plan to Kill the Stock Market

Chuck Schumer and Bernie Sanders Have a Plan to Kill the Stock MarketSenators Chuck Schumer of New York and Bernie Sanders of Vermont want to penalize “self-indulgent” corporations that buy back their own stock. In a recent article in the New York Times, they argued that when companies repurchase shares, not only do the vast majority of Americans not benefit, but income inequality is exacerbated since only wealthy shareholders and corporate management profit.Despite decades of extraordinary success that the United States has enjoyed and that we enjoy today, Schumer and Sanders believe that something sinister is taking place in the corporate world. They call buybacks a form of “corporate self-indulgence.” Why? Because> corporate boardrooms have become obsessed with maximizing only shareholder earnings to the detriment of workers and the long-term strength of their companies. . . . Companies, rather than investing in ways to make their businesses more resilient or their workers more productive, have been dedicating ever larger shares of their profits to dividends and corporate repurchases.Now even some Republicans are getting on board. Florida senator Marco Rubio has suggested changes in the tax law to discourage buybacks because he says they “inflate” the prices of stock “at the expense of future productivity & job creation.”These senators don’t seem to fully understand that the purpose of a business is to allocate resources in a way that maximizes per share results over the long run. To think that this can be achieved at the expense of workers, at the expense of investing in research, at the expense of developing new and better products, at the expense of investing in equipment to both lower the cost and increase the quality of production, etc. is sophomoric. This underscores their lack of knowledge about investing and financial markets.Companies have several options with regard to the use of excess cash. They can (1) retain the funds in the company, (2) invest in the capital needed to grow the company, (3) make acquisitions, (4) pay out the excess cash in the form of dividends, or (5) repurchase shares from existing shareholders.These senators see little value in share buybacks, but they should listen to Warren Buffett, who is unequivocally a long-term investor. His financial success is a result of making exceptional long-term investments in resilient companies. Unlike Schumer and Sanders, Buffett is an enthusiastic proponent of utilizing excess cash to repurchase shares when conditions are favorable (or opportune).Here is what he said in his 1984 annual report: “The companies in which we have our largest investments are all engaged in significant share repurchases at the times when a wide discrepancy exists between price and value.” He has made this point repeatedly throughout the years. These companies repurchase shares and continue to grow, continue to invest in research, in capital that will improve the quality and lower the cost of products. He has even bought back $ 1 billion of shares of his own company, Berkshire Hathaway, not because he is “self-indulgent” but because he thinks the firm is undervalued.Schumer and Sanders—and in some cases they are joined by Rubio—provide two main reasons we are in a stock buyback “crisis”:> First, stock buybacks don’t benefit the vast majority of Americans.> > Second, when corporations direct resources to buy back shares on this scale, they restrain their capacity to reinvest profits more meaningfully in the company in terms of R&D, equipment, higher wages, paid medical leave, retirement benefits and worker retraining.The first point is utter nonsense. More than 100 million average Americans own stock. Americans invest in mutual funds and index funds and buy and sell stock every day. Tens of millions more have 401K plans, and most union pension funds have hundreds of billions of dollars invested in stocks.The second point is equally absurd. A corporate board of directors is elected by shareholders, the owners of the company. When a board makes the decision to repurchase shares, it is a sign of confidence in the firm’s long-term profitability. It raises share values, which obviously benefits shareholders and puts firms in better financial shape — which also benefits the employees. Essentially, Schumer and Sanders believe, and Rubio seems to believe, that they have the right to tell the owners of a corporation the best way to allocate their profits.Studies show that firms that buy back their own shares have strong long-term growth.Consider Apple. It has become the most valuable company in the world. This exceptional success was achieved because of the enormous investments they made to develop revolutionary products. Companies cannot develop revolutionary products by underpaying talented workers or without investing billions of dollars in research, factories, and equipment. Not incidentally, Apple has repurchased billions of dollars of its own stock.The hyper-competitiveness and efficiency of U.S. companies is a major reason that unemployment is at a near 50-year low. Today, no company can survive if its workers are treated poorly. Walmart, which Schumer and Sanders attacked in their article, and many other companies recently raised their wage rates substantially, starting with entry-level positions.What is most disturbing about Schumer and Sanders’s proposal is their hubris in believing that they know how every company should handle its excess cash better than the CEOs, the boards of directors, and shareholders do. That is a rather all-encompassing statement. One would be hard-pressed to find a more vivid example of what Friedrich Hayek called “the fatal conceit,” the distorted notion that one knows more than is knowable. Would Buffett invest in a company if Schumer and Sanders were in charge of allocating its resources?We doubt it. Who in their right mind would?If approved, what Schumer and Sanders propose would not only hurt U.S. companies. It would harm the entire U.S. economy and financial system. It would raise the cost of capital for companies. What they advocate would tell domestic and foreign investors that our government is interfering with how companies allocate their resources.What is the difference between going after a large company with lots of shareholders and a small company with one owner? How long before Senators Schumer and Sanders tell the tire-shop owner that he has not paid his employees enough and that therefore he has withdrawn too much of the profit as an owner distribution?Every shareholder and business owner in America should rise up in loud protest against what these senators are proposing.Thomas A. Smith is the president of the Smith Foundation and ran a successful investment company for 40 years. Stephen Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks.



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