No Joke, Says Stephen Colbert: 'I Am a SuperPAC'

By Nicholas Ballasy | June 30, 2011 | 3:09 PM EDT

( – Following the Federal Election Commission’s decision today to allow him to form a political action committee, comedian Stephen Colbert, the host of “The Colbert Report,” responded to critics who have suggested his “Super PAC” is a joke.

"Moments ago the Federal Election Commission made their ruling," Colbert told a crowd of fans outside the FEC in Washington, D.C. "And, ladies and gentlemen, I am sorry to say: We won!"

"I am a ‘Super PAC’ and so can you," said Colbert. 

"Now some people have cynically asked, ‘is this some kind of joke?’ Well, I for one don’t think participating in democracy is a joke,” he said.

“I don’t think that wanting to know what the rules are is a joke. But I do have one Federal Election Law joke if you’d like to hear it," Colbert said. "Knock, knock."

The crowd replied: “Who’s there?”

“Unlimited union and corporate campaign contributions,” said Colbert.

“Unlimited union and corporate campaign contributions, who?” said the crowd.

“That’s the thing, I don’t think I should have to tell you,” said Colbert.

When Colbert encouraged the public to start donating to his PAC, people in the crowd began throwing money at the “Comedy Central” star.

“Of course, there will be others who say, ‘Stephen Colbert, what will you do with that unrestricted Super PAC money to which I say, ‘I don’t know. Give it to me and let’s find out because I don’t know about you but I do not accept limits on my free speech,’” said Colbert.

In a May 13, 2011 file photo Stephen Colbert shakes hands and accepts one dollar contributions after filing with Federal Election Commission in Washington. "The Colbert Report" has used satire to shine a light on campaign finance rules following the Citizens United ruling by the Supreme Court. (AP Photo/Alex Brandon/file)

“I don’t know about you but I do not accept the status quo but I do accept Visa, MasterCard and American Express - $50 or less please because then I don’t have to keep a record of who gave it to me. Also, please remember that your gift is not tax deductible for you. It is tax exempt for me.”

Following his speech to fans, Colbert took bills from people in the audience holding them up. Someone asked the television star what point he is trying to prove “against corporate America” with his PAC.

“None,” replied Colbert. “I want their money.”