IN JULY 1964, a divided Republican Party nominated Barry Goldwater as its presidential candidate. The nomination launched not only a new conservative political movement but a revolution in political fundraising. Abandoning the wealthy elites who had bankrolled previous presidential campaigns, the Arizona senator used direct mail and television to appeal to a broader group of ideological grassroots conservatives—the “true believers” as he put it. Goldwater would eventually amass some $5m in campaign contributions from hundreds of thousands of mostly small donors.
Today, 50 years later, small donors are considered a key asset in a successful presidential campaign. “Hillary has a healthy mix of traditional bundlers and online, low-dollar donors”, Andy Spahn, a top Democratic fundraiser, told the New York Times in February. These low-dollar donors, he said, “will be necessary to win in November”. Enthusiasm for small donors is non-partisan. Chart Westcott, a Republican donor told the Washington Post in October that Republican candidate Ted Cruz’s ability to draw both large- and small-dollar donors make...Continue reading
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