What Oligarchy Means: Small Groups of Multi-Millionaires Funding Almost All SuperPACs | David Dayen
Forget the five people you meet in heaven, here are the five people running the US election system these days.
We know how the super PACs have come to dominate the presidential campaign, but a closer look at financial-disclosure numbers shows how just a tiny handful of billionaires are dominating those super PACs. An analysis of January’s campaign-disclosure filings reveals that 25 percent of all the money raised for the presidential race that month came from just five donors. That select group gave $19 million to various super PACs, often in support of more than one Republican candidate. Those numbers come from both The Washington Post and USA Today, though neither gives a complete list of those five top donors of 2012.
Ari Berman has us covered. The list includes Harold Simmons, who has given to Perry, Romney and Gingrich this year; Sheldon Adelson and his wife, who are keeping Gingrich on life support; and Santorum pals Foster Freiss and William Dore. Also in the mix is billionaire investor Peter Thiel, a Romney angel.
If you want to extend the circle out to, say, 200 people, a report from Demos shows that about that many have contributed 80% of all SuperPAC money. These are the SuperPACs that have been a major determining factor in the GOP primary, and which swung many Congressional elections in 2010. This equals .000063 of the electorate.
I respect the arguments that Citizens United didn’t cause this all by itself. We had a messed-up election system before that Supreme Court ruling. But there has unquestionably been a cultural shift in recent years, with far more outright purchases of elections, using massive numbers. I would argue that the rise follows the rise in political economy of a select few. As the 1% spends to write the laws, they gain more power and a certain invincibility. So they can use that power on elections with relative impunity. One hand washes the other.
(Source: theamericanbear, via randomactsofchaos)
Notes
-
therabbitdown likes this
-
indeedyreedy reblogged this from socialuprooting
-
lastchatwithphontaine likes this
-
jjarichardson reblogged this from jonathan-cunningham
-
smilefortyeight likes this
-
howlingdark likes this
-
occupyli reblogged this from silas216
-
silas216 reblogged this from socialuprooting
-
silas216 likes this
-
parallaxative likes this
-
sciencevsdeath reblogged this from enlighteningnews
-
pineapplesmells likes this
-
thedoublelifeofmm reblogged this from starsinhereyes
-
centaurismymentaur likes this
-
crystalbluepersuasion likes this
-
sweetwitchy likes this
-
tomofbedlam likes this
-
parkstepp reblogged this from starsinhereyes
-
dorkstranger reblogged this from starsinhereyes
-
dorkstranger likes this
-
starsinhereyes reblogged this from guerrillatech
-
starsinhereyes likes this
-
darwinsminion reblogged this from questionall and added:
I learned about oligarchies in elementary school, yet I never connected it to the present situation. Bravo.
-
yayforthings likes this
-
questionall reblogged this from enlighteningnews
-
devoidofallmorality likes this
-
ordream likes this
-
mochente reblogged this from socialuprooting
-
occupy-sandiego reblogged this from enlighteningnews
-
wak3thefuckup reblogged this from socialuprooting
-
keeping-sane reblogged this from socialuprooting
-
emmydiocracy reblogged this from socialuprooting
-
emmydiocracy likes this
-
bluej25 likes this
-
dmyheadphonesb reblogged this from mysticsoul
-
moslike likes this
-
skinnymalink likes this
-
paradoxicalparadigms likes this
-
queennubian reblogged this from hairtrending
-
hairtrending reblogged this from lycanpedia
-
earthisalie likes this
-
lunaticprophet reblogged this from enlighteningnews
-
impactoflove reblogged this from enlighteningnews
-
lunaticprophet likes this
-
viviano reblogged this from enlighteningnews
-
glitchthemachine reblogged this from enlighteningnews
-
yellittothemasses reblogged this from guerrillatech
-
mysticsoul reblogged this from socialuprooting
-
engagedelectorate likes this
- Show more notes
