This election cycle, both sides are raking in mega-money, but the right-wing Super PAC flow seems inexhaustible as millionaires and billionaires funnel an endless supply.
Names like the Koch brothers, Tom Donohue and "political machinist" Karl Rove are on a singular path to oust the sitting President Obama by any and every means necessary.
Sure, the president's camp is not innocent in the campaign donation game; he has received money in the past and present from big banks like JPMorgan Chase, Goldman Sachs and others. That may account for the President's lukewarm pursuit of prosecution for big bankers behind the financial collapse. Comedian http://www.allvoices.com/contributed-new
He was referring to Obama's previous stance against hordes of money coming from Super PACs with obscured donations and not much transparency, a position he advocated when seeking the presidency in 2008. Now he has his own PAC, Priorities U.S.A. but it is in no way as super as the other side's.
According to Politico, conservative super PACs have more money at their disposal than the combined total of Obama and McCain's 2008 election campaign donations. Read that again. http://www.politico.com/news/stories/051
What is behind this massive influx of money in campaigns, and does this smack of buying the office of the presidency?
In my humble opinion--you betcha. Corporations are being treated as people, and the highest court in the land has upheld legislation saying that they are. Citizens United made sure of that when they petitioned the Supreme Court on the behalf of Corporate Personhood. What's deeply troubling with that age-old clause is that business today is not yesteryear's business. The current corruption is on an epic scale never foreseen when that ink was allowed to dry on the parchment it was drawn up and signed on.
Today's capitalists have voracious, ruthless appetites that would make the greedy ones of the past look like archangels. The vociferous hogging of wealth and power by a small percentage of the population, is unprecedented, tipping this nation to a dangerous place never gone before.
After the mega-financial crisis of 2007-8, America saw the sobering reality of its economic mortality and some advocated for change while others rolled over, took billions of dollars in federal bailouts and continued to do more of the same.
Now both parties are taking donations from the same players who orchestrated the financial collapse, but the Republicans want to take it a step further by continuing the dangerous policies that put us in the deep, crippling abysmal economy we plummeted to and is still wading through. Romney promises to roll back whatever weak regulations the Obama administration managed to impose on Wall Street and the rest of the financial sector. Are the 200-plus donors to his super-PAC, American Crossroads, 'paying' to ensure he keeps them happy if he manages to reach the White House come November?
The deep pockets of the conservative backed super PACs are on a mission to ensure just that. According to The Daily Beast, fund-raisers hosted by the likes of one of Romney's BFF, hedge fund billionaire , are just the tip of the iceberg.
Paulson, one of the key players behind the risky dealing that plunged the housing market into near bankruptcy, threw a lavish fundraising event at one of his penthouses in New York last month. A neighbor reportedly said those in attendance were mostly old white men, the demographic hellbent on keeping the power structure in this country leaning heavily in the direction of the Bush era rules of tax breaks for the wealthy and deregulation for the corporate world.
Moveon.org writes that the amount of money folks like the Koch brothers, Karl Rove and others are throwing towards defeating President Obama represents a miniscule part of America, and pretty soon only this small select percentage will be able to participate in the political process.
Adding this in an email, which sums it up perfectly: "Money in politics isn't just a problem at the national level. Corporations and the 1% use money and its influence to set statewide policies that benefit them through lax regulation and tax breaks that the 99%-- pay the price for. And Super PAC money is hurting lower-level candidates too, who have no hope of matching the spending of corporations and millionaires."
"If corporate money continues to be treated as free speech, the wealthy will be the only ones who can afford to be heard at all. "
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