Colbert super PAC rakes in $1 million

@CNNMoney January 31, 2012: 5:31 PM ET
Colbert super PAC reports $1 million in cash.

Colbert on the campaign trail.

NEW YORK (CNNMoney) -- Stephen Colbert's super PAC is working with some serious cash.

Americans For A Better Tomorrow, Tomorrow reported Tuesday that it has raised $1,023,121, according to a document filed with the Federal Election Commission.

An addendum to the disclosure contained language from Colbert that is not usually included in FEC reports.

"Yeah! How you like me now, F.E.C? I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!" Colbert said.

The primary disclosure form, which runs through Dec. 31, lists donations of $825,475, which means Colbert raised almost $200,000 in the month of January alone.

In a statement posted to the super PAC's website, Colbert said the money had been raised "in full accordance with the law."

"It's the way our founding fathers would have wanted it, if they had founded corporations instead of just a country," Colbert said.

Most donations to the super PAC were under $250, but disclosure forms list some interesting donors who chose to give more. (Campaign finance the Stephen Colbert way.)

A $500 donation from Gavin Newsom, the Lieutenant Governor of California, is listed.

"I applaud Stephen Colbert exposing the absurdity of our current political financing system. I'm proud to support Colbert's message with a donation. And I like his haircut," Newsom said in a statement.

Adding a touch of star power, an actor named Bradley Whitford gave $250. It could not be immediately confirmed that the West Wing star did in fact donate.

A Rolling Stones tribute band called the Sticky Fingers Band gave $400. The band bills itself as "the greatest rock and roll tribute band in the world" on its website.

Colbert has spent the better part of a year using his show on Comedy Central to take viewers on a tour of the opaque world of campaign finance law. (Where the money is: A campaign spending primer.)

Armed with the ability to accept unlimited sums of money from corporations, unions, associations and individuals, Colbert's super PAC has set about doing what other super PACs do: spending unlimited sums to overtly advocate for or against political candidates.

Americans for a Better Tomorrow, Tomorrow ran ads in advance of the Iowa straw poll touting the candidacy of "Rick Parry."

And while Colbert hit the campaign trail in South Carolina, the super PAC ran ads that referred to Mitt Romney as "Mitt the ripper."

"If Mitt Romney really believes corporations are people," the ad said, "then Mitt Romney is a serial killer."

In one episode, Colbert enlists his lawyer, Trevor Potter, to create a tax-exempt 501(c)(4) so that he can obtain secret donations in a "completely transparent" way.

"Can I take this (c)(4) money and donate it to my super PAC?" Colbert asked after signing paperwork that registered the shell corporation in Delaware. "You can," Potter said.

The camera then cuts to Colbert, whose face displayed a look of total shock. "Wait," Colbert said. "What is the difference between that and money laundering?"  To top of page

Most Popular
Europe debt crisis and jobs numbers to drive stocks
 
Farmers hit the jackpot in Kansas oil boom
 
Apple to DOJ: Bite me
 
Postal Service offers $15,000 buyouts to 45,000 mail handlers
 
Summer gas prices - as good as they'll get
 
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.80%
15 yr fixed3.09%3.11%
5/1 ARM2.65%2.69%
30 yr refi3.77%3.86%
15 yr refi3.09%3.21%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Economic Calendar
Latest ReportNext Update
Inflation (CPI)May 15
Retail salesMay 15
Home PricesMay 29
Consumer ConfidenceMay 29
GDPMay 31
JobsJun 1
Manufacturing (ISM)Jun 1
Hot List
CEOs who served their country

FedEx's Fred Smith did 2 tours of duty in Vietnam as a Marine. Meet 10 Fortune 500 executives who served in the U.S. military.  More

Farmer power forces Big Oil bidding war 

Group of farmers in southern Kansas pool their land to more than double their money from an oil company for their mineral rights. Play

6 great Memorial Day car deals

Here are some hot tips if you're going out car-shopping this weekend. More

Build your own mail-order home

This 150-square-foot home can be shipped anywhere and then assembled like Ikea furniture. More

How we got our jobs after college

Many Class of 2012 grads find themselves without work. But those who landed jobs say internships are key. More

CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.