Oligarchy Of Super PAC Megadonors Have Conquered American Politics

[99th_Monkey]

It's not just Bernie & President Jimmy Carter anymore, who's talking about the US Oligarchy.

Oligarchy Of Super PAC Megadonors Have Conquered American Politics
The majority of money raised for the 2016 presidential race came from those giving $100,000 or more.
July 31, 2015 * by Paul Blumenthal * The Huffington Post

WASHINGTON -- A new oligarchic era of American politics came into full view on Friday, as super PACs disclosed fundraising details showing billionaires bankrolling the 2016 presidential race to an unprecedented degree.

The unlimited-money super PACs account for one-third of all federal election funds raised in the first half of 2015 -- up from 4 percent at this time in the last presidential election. Three-quarters of all super PAC money came from more than 500 wealthy donors, corporations and unions in contributions above $100,000. More than half the money in the presidential race so far -- to super PACs and to campaigns -- came from donors who have given at least $100,000.

For the first time in more than a century, the majority of funding for a presidential election is coming in six-figure or larger checks from corporations and the wealthiest Americans. The presidential campaigns, limited to a maximum of $5,400 from a single donor, raised a combined $128 million. Super PACs supporting those candidates pulled in $260 million, with $208 million from those giving $100,000 or more.

“The 2016 presidential candidates and their individual-candidate Super PACs are wiping out the nation’s anti-corruption candidate contribution limits,” Democracy 21 president and longtime campaign finance reform advocate Fred Wertheimer said in a statement. “In doing so, the presidential candidates and the Super PACs supporting them are creating the kind of system that the Supreme Court has described as an inherently corrupt system.”

http://www.huffingtonpost.com/entry/oligarchy-super-pac-megadonors-have-conquered-american-politics_55bc1eece4b0b23e3ce2f5ec?

[Hydra]

1. The mask is off

Mind you, it's worked like this in Congress and elsewhere for a LONG time.

[Cheese Sandwich]

2. Of course it has.

I'm not really sure that it hasn't always been an oligarchy of corporations. Seems to have gotten worse in the past 30 - 40 years though.

[99th_Monkey]

3. "It's gotten worse" No Kidding

I'm old enough to remember when there were SERIOUS policy debates
about campaign financing -- getting money out of politics -- including
public financing of campaigns. Now we have the extreme opposite
of that, thanks to Citizens United.

Many younger people probably don't even know such policies were ever
seriously considered,