Tuesday, December 13, 2011

Buddy Roemer: "FACT: The 1% own the elections. 80% of giving to SuperPACs has come from just 58 donors"

Red money, blue money: The making of the 2012 campaign

Two wealthy tribes will decide the political messages we hear -- and the ones we won't

Karl Rove

Karl Rove (Credit: Reuters/Salon)

The hidden infrastructure of the 2012 campaign has already been built.

A handful of so-called Super PACs, enabled to collect unlimited donations by the continued erosion of campaign finance regulations, are expected to rival the official campaign organizations in importance this election. In many cases, these groups are acting essentially as outside arms of the campaigns.

These are America’s best-funded political factions, their war chests filled by some of the richest men (and almost all are men) in the country.

More than 80 percent of giving to Super PACs so far has come from just 58 donors, according to the Center for Responsive Politics analysis of the latest data, which covers the first half of 2011. The Republican groups have raised $17.6 million and the Democratic groups $7.6 million. Those numbers will balloon, with American Crossroads, the main Republican Super PAC, aiming to raise $240 million.)

The exceptions are two public employee labor unions, whose massive donations match those of some of the largest moguls. The rest are individuals with vast fortunes at their disposal. They constitute two different tribes.

The conservative red tribe is dominated by businessmen who have built or inherited fortunes. They also include Wall Street investors, oil and gas men, construction magnates, and retail executives. Mormons are well represented.
Red money, blue money: The making of the 2012 campaign - 2012 Elections - Salon.com

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