2011-06-24 "Wisconsin Senator “Recoups” Self-Financed Campaign Funds?" by Robin M.
Well, that must be a load off of Wisconsin Senator Ron Johnson’s mind. After dropping almost $9 million in his own money to self-finance his campaign to defeat Democrat Russ Feingold, the freshman senator just scored a big payday — $10 million in deferred compensation from his old company.
Isn’t that lucky! Or, as some are wondering, maybe a little too convenient.
The $10 million in deferred compensation was paid to reimburse Johnson for the nearly 15 years that he did not take a salary as the owner of Pacur, a plastics manufacturing firm. According to disclosure reports, Johnson had other income in the form of capital gains, earnings and real estate during most of that period. But opposing “good government” interest groups are accusing the senator of a “scheme” to get around campaign finance law that forbid companies from providing unlimited funds to a candidate for public office.
As for the senator, he believes he hasn’t done anything wrong, and sees no reason to have to justify why he was provided the money or how the amount was decided upon. “It’s a private business,” Sen. Johnson told a reporter at the Milwaukee Journal Sentinel [http://www.jsonline.com/watchdog/noquarter/124468318.html]. I’ve complied with all the disclosure laws, and I don’t have to explain it any further to someone like you.”
The only question is, will he have to explain it to the voters? Or do they not merit an explanation, either?