The front running Democratic Presidential candidate, Joe Biden, didn’t exactly bite the hand that feeds him, but it wasn’t too far from it either as one story reported. It was a fundraising email, it can only be assumed was an effort to drum up support and keep his constituents motivated. What it became, however, was treacherously close to a man drilling holes in the floorboard of the boat he’s standing in.
According to our story, “in a fundraising email sent to supporters on Thursday, Biden’s campaign excoriated two of his Democrat rivals for using their personal fortunes to underwrite their presidential ambitions.” In other words, Biden essentially reprimanded his rivals for relying on the support of billionaires.
The story even noted that “in particular, Biden’s campaign lambasted Steyer for using his fortune to gain access to the Democrat debates, while attacking Bloomberg for skipping early primaries and spending $100 million in delegate-heavy Super Tuesday states.” Then the story went one to report Biden saying in his email, “one billionaire is buying his way onto the Democrat debate stage, and one is buying his way out of it…” before adding that this is not “how democracy is supposed to work.”
Now, for a few fun facts:
Our story shared that based on a report from Forbes, “the former vice president pulled in contributions from 44 billionaires” the most of any candidate. Many of those contributors, as the story also added, decided to give the largest allowable contributions as regulated by federal law.
Donors ranged from people the story cited as “Silicon Valley titans, Wall Street elites, and some of the country’s largest real estate tycoons.” People like former Google CEO Eric Schmidt and Meg Whitman the former CEO of eBay, and businesses like Alphabet Inc. (Google’s parent company) and small tech upstarts like Microsoft Corp.
But that is, of course, different than the billionaire elites and his opponents they support. Right? Speaking of Biden’s opponents, this passionate and heartfelt email also comes at a rather opportune time for the faltering Biden campaign. In fact, as our story went on to point out, “although Biden started the race with a strong funding advantage, thanks to support from high-dollar donors, he ended the most recent fundraising period well behind his competitors. In between July and the end of September, Biden only raised $15.2 million. The sum was dwarfed by that raised by Sanders ($25.3 million), Warren ($24.6 million), and South Bend Mayor Pete Buttigieg ($19.1 million).” Ouch.
Now this email seems to make much more sense, doesn’t it? Yet, it still feels perilously close to stepping on the toes of your dancing partners when he starts bashing billionaires and their funds being used to support a candidacy.
Here is one more cute clip from that email and a peek into the mind and thinking of the tenuously, but still front running candidate, who’s team wrote, “Since the day that this campaign launched, we have relied on grassroots support to power this campaign,” that and the help of a few dozen billionaires!
The story also cited the reason for Biden’s fundraising struggles as being a failure or “inability” to connect with small-dollar donors, you know, real people. The people who he is running to lead, to help, and to govern, those people. While not being able to connect to the ‘average joe’ when it comes to campaign funding may be something he can get away with, there simply aren’t that many billionaire votes to be had.
What that also translates into for the man who has his eyes set on the prize of the Oval Office is that his campaign and support network is inextricably tied to his billionaire donors club. That also means that Mr. Biden may want to be very careful about talking out of both sides of his mouth, or worse yet about biting the hand that feeds him.
It isn’t that we aren’t used to the former Vice President sending nonsensical messages and giving us unrealistic promises. It just isn’t often that those messages are dangerous enough to unravel his entire campaign.
Winning a few votes at the risk of being excluded from the billionaire’s club is one move he literally can’t afford to make!