Move along….nothing to see here!
Mitt Romney’s campaign handed out $112,500 in bonuses to four of its top staffers, according to new disclosure records filed Thursday.
Richard Beeson, Romney’s national political director, received a $37,500 payment on Aug. 31, in addition to his monthly salary of $13,750, according to records filed with the Federal Election Commission.
In addition, campaign manager Matt Rhoades, policy advisor Lanhee Chen and communications director Gail Gitcho each received $25,000 payments on the same date, filings show. The trio are also paid at the same rate as Beeson, which works out to an annual equivalent of $165,000.
While there’s been no official explanation for the bonuses, I can’t help but think the bonuses were given to prevent Mitt Romney’s senior campaign staff from jumping ship after what could be argued was the Romney campaign’s worst week of this election.
Then again, bonuses for failure is an integral part of the Republican corporate culture.
Or, don’t release any videos.
I would think the explanation for the bonuses is that the Romney campaign itself is evidentiary confirmation of Romney’s advocacy for corruptive capitalist rather than civic minded governance. The campaign is $11 million in debt to the Georgetown Bank, from which it borrowed $20 million due to lack of funds prior to having access to general election funds. It’s pretty clear, the ideals that mark Romney’s entire private sector career still apply and would undoubtedly apply as a governing principle if he is elected in November, and that is: The crash and burn principle which rewards abject failure risked on other’s people’s money. And let’s not forget the principle of rewarding not just tricksy or dirty tricksy tacticians, but outright immorally filthy cozeners ala Griffin and Rove – Matt Rhoades being a prime example.
The way it seems to have worked out, adding the bonuses onto regular salary for the 6 senior staffers who received the most, is they each raked in approximately $45,000 during the month of August. Kind of disgusting when you think about it given middle class income averages out to $50,000 per year. And the cost per plate at the “47% event” was $50,000.
Kind of disgusting when you think about how the Romney campaign could simply pay back its loan now that it has access to general election monies given its loan was collateralized on monies that were already in the general election fund, but instead has chosen to undergo additional fundraising targeted to pay back the loan. In other words, the $20 million was secured from Georgetown Bank on the rationale that it had the $20 million in the general election account, but didn’t have access to it until Romney was officially nominated. Romney’s campaign is proving to be yet another cynical con that benefits the basest players. Pretty disgusting, but pretty telling at the same time.
This is why you’re so fabulous.
Great comment.
Thanks, Z.
These August payments look a bit like deferred compensation benefits don’t they? And now we know for certain that they are. The campaign states as much in so many words: that they were contractually negotiated and contingent upon Romney winning the primary. That describes deferred compensation even if it doesn’t name it. I should think there will be more of these bonuses to come after November when public eyes shall not be so keen on the campaign’s finances. Rhoades’ $165,000 annual salary + his bonuses brings him up to nearly $200,00 double that of Messina’s who’s only pulling down 90 grand for managing Obama’s campaign. Nice take, but I’d wager there’s more largesse to go around. GOP SuperPac salaries are in the region of $600,000 where Democratic SuperPacs are $335,000. I guess GOP operatives are twice as valuable all around…
I can’t help but wonder how Romney would actually respond to the debt “crisis” were he in office. I tend to think he would treat it in the way he has treated his own campaign debt – as a deal to profit by. And there are those of Romney’s vulturous ilk who do profit from our debt, and would profit substantially if the US goes into default. Buzzards all, in my book.