Tag Archives: super pac

Never Mind Super PACs: How Big Business Is Buying the Election

2 Sep

Though much media attention has been heaped on Super PACs—the new political action committees that can take unlimited contributions from nearly any source, such as Mitt Romney’s Restore Our Future—they haven’t caught fire within corporate America owing to their monthly (in some cases, quarterly) disclosure requirements. Most donations to Super PACs are from wealthy individuals, such as casino magnate Sheldon Adelson, making them not so different from the so-called 527 groups that proliferated in the immediate wake of McCain-Feingold. Among the eight largest Super PACs active during the Republican presidential primaries, 86 percent of their funding came from individuals, not corporations.

The real tsunami in corporate spending has come from nonprofits, in particular trade associations, which are classified as 501(c)(6) organizations under the tax code and are virtually fully funded by corporate cash. In 2010, 501(c)(6) trade associations and 501(c)(4) issue-advocacy groups outspent Super PACs $141 million to $65 million, according to the Center for Public Integrity and the Center for Responsive Politics.

After Citizens United, trade associations quickly moved to augment their traditional PAC spending with secret corporate cash. Take the Pharmaceutical Research and Manufacturers of America, the pharmaceutical industry’s trade association. In 2008, PhRMA spent less than $200,000 on federal elections, using only money bundled from transparent individual contributions, mostly from drug company executives. The following election cycle, after Citizens United, PhRMA spent $10.36 million on federal elections, 98 percent of it from undisclosed corporate sources.

Likewise, the shift allowed the National Association of Realtors, already a heavy hitter when it came to PAC spending, to unleash an additional $1.1 million on federal elections from undisclosed real estate companies in 2010.

“What Citizens United has done, it has wholesale changed the landscape,” said Stefan Passantino, a partner at the law and lobbying firm McKenna, Long & Aldridge and a former Newt Gingrich campaign adviser. He was addressing a seminar in Atlanta, Georgia, on corporate political engagement in the 2012 election cycle. He recounted advising one corporate client on how to “engage in an issue where we’re not popular,” in this case to preserve certain tax loopholes. Passantino said businesses have enormous new opportunities for influencing elections without being detected. “We gotta keep our corporate logo out of the bull’s-eye,” he added.

via Never Mind Super PACs: How Big Business Is Buying the Election.

America’s billionaire-run democracy – 2012 Elections – Salon.com

14 Feb

The article begins, and delivers on the promis of this beginning:

Watching what’s happening to our democracy is like watching the cruise ship Costa Concordia founder and sink slowly into the sea off the coast of Italy, as the passengers, shorn of life vests, scramble for safety as best they can, while the captain trips and falls conveniently into a waiting life boat.

We are drowning here, with gaping holes torn into the hull of the ship of state from charges detonated by the owners and manipulators of capital. Their wealth has become a demonic force in politics. Nothing can stop them. Not the law, which has been written to accommodate them. Not scrutiny — they have no shame. Not a decent respect for the welfare of others — the people without means, their safety net shredded, left helpless before events beyond their control.

It’s all about who gets to be puppet master:

When all is said and done, this race for the White House may cost more than two billion dollars. What’s getting trampled into dust are the voices of people who aren’t rich, not to mention what’s left of our democracy. As Democratic pollster Peter Hart told The New Yorker magazine’s Jane Mayer, “It’s become a situation where the contest is how much you can destroy the system, rather than how much you can make it work. It makes no difference if you have a ‘D’ or an ‘R’ after your name. There’s no sense that this is about democracy, and after the election you have to work together, and knit the country together.”

These gargantuan Super PAC contributions are not an end in themselves. They are the means to gain control of government – and the nation state — for a reason.

via America’s billionaire-run democracy – 2012 Elections – Salon.com.

Another 2012 Campaign for Sale – NYTimes.com

8 Feb

On Monday, the president … gave in to the culture of the Citizens United decision that he once denounced as a “threat to our democracy.”

His aides announced that the Obama campaign would begin to assist the “super PAC” that can raise and spend unlimited sums to support the president’s re-election effort. Even White House and cabinet officials are expected to appear at fund-raising events for Priorities USA Action.

Surprise! Surprise!

via Another 2012 Campaign for Sale – NYTimes.com.