The Spectacle Blog

Findings in Fred’s Filing

By on 7.31.07 | 6:03PM

Others have started probing Thompson's 8872 IRS filing today. A quick look reveals some interesting tidbits. Most clearly those who challenge whether he is legitimately "testing the waters" (and not operating a campaign in disguise) will question if that is the case: 1) why brag about a burn rate(18%); 2) why accept donations above the $2300 limit for the primaries (i.e. if you are "testing" you are determining viability and you shouldn't be storing away money for the primary, let alone the general election); and 3) were 10 staffers paid a total of $106K(including payroll taxes) really just working on testing the waters activities? Another nugget: he paid $25,321.58 to Michael Toner's law firm. Toner is the former head of FEC. (The sight of the former FEC head now advising a candidate on how to stay below his former agency's radar screen will not please those who frown on the infamous revolving door.) On the donor side, so far he seems to have regional appeal largely limited to the South. By rough tabulation $2.68M --roughly 79%-- came from states in his regional backyard (Tenn. with $1.67M; Texas, VA, FL, Georgia, Louisiana, Mississippi, NC and Alabama comprising the rest). More details as we continue to read on.
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