Sheldon Adelson Leads Super PAC Mega-Donors To Dominance In 2012

[TomCADem]

Source: Huffington Post

WASHINGTON -- Casino magnate Sheldon Adelson, among those whose contributions are disclosed, is far and away the largest donor to independent political efforts in both the 2012 election and in any single election in modern history. The casino billionaire, along with members of his family, has given $54.44 million to super PACs to help elect a variety of Republican candidates, from Republican presidential hopeful Mitt Romney on down to a House of Representatives race in New Jersey.

The amount that Adelson, the 12th richest person in the United States, has given far exceeds the amounts given by other super PAC donors. At the same time, his $50 million-plus contributions are precisely in line with the demonstrated purpose of the new independent political power of the super PAC. These groups, born from two controversial court rulings -- most prominently the Supreme Court's 2010 Citizens United ruling -- exist almost uniquely as political arms of the very rich and already entrenched interests.

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The full numbers are striking. Super PACs have raised $659 million through Oct. 17, the last day that super PACs will disclose before the election. Of that total, $443.8 million came from donors giving $500,000 or more. Those mega-donors' contributions exceed the total amount spent by all outside groups, including party committees, in 2008 -- the last election before the Citizens United ruling -- by more than $100 million.

Wealthy individuals and the corporations they run account for $346 million of the amount raised by mega-donors. Unions donating $500,000 and more have given $75.2 million, and other groups like candidate committees, party committees, super PACs, PACs, non-profits and trade associations giving $500,000 or more have given $22.7 million.

Read more: http://www.huffingtonpost.com/2012/10/27/sheldon-adelson-super-pac_n_2030517.html?utm_hp_ref=mostpopular

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More news about the staggering amount of money coming from just a few extremely rich people. Government over the many by the wealthy few. We have come full circle and are now a nation of indentured servants thanks to Republicans and Citizens United.

[randr]

1. Ill gotten gain wasted on ill

chosen candidates.

[ciking724]

2. I think these guys are gonna be pretty pissed off when they

realize Romney has been baiting them just to enrich his own coffers, through ads at Clear Channel and other Bain-controlled entities. I don't think Romney ever thought he had a chance of winning. He's getting rich just running. Adelson and all those other high-end investors are going to look like super idiots when Obama and the Dems win all branches by a landslide.

[progressivebydesign]

3. that's sickening. Adelson has the BIGGEST stake in Romney. and people don't have a clue who he is nt

[RickFromMN]

4. Sadly, with enough money, you can fool most of the people enough of the time.

Only later, when the people have to use referendums to reverse legislation, such as what the Republicans did in Wisconsin or Ohio, that people had to reverse do people wise up.

By then, it's usually too late. Not everything gets reversed.
What was unthinkable becomes thinkable in some dark future.

Very sad.

[onehandle]

5. How do fundies feel about $ from gambling, alcohol, prostitution, and communism going to the GOP?

Hmm?

[DippyDem]

6. Throwing millions at GOP party

Then Adelson tells his workers to vote for Romney or he may have to cut back? Doesn't seem like sound business practice.

[oberliner]

7. What's strange is that he spent a TON trying to defeat Romney

In the primary, he pretty much single-handedly bankrolled Newt's campaign.

[fascisthunter]

8. rich evil dickhead

congrats you idiot

[bemildred]

9. What a fool. nt