TheWall Street Journal ran a disingenuous and misleading opinion piece on Sunday evening titled "The Corporate Disclosure Assault," arguing that “[u]nions and liberal activists are using proxy rules to attack business political speech.” The piece—exactly like the undisclosed corporate money it’s pandering to—doesn’t even have an author listed.
Eliza Carney has an interesting piece in Roll Call observing that in light of Congressional inaction, several federal agencies have now moved to center stage in the fight over unrestricted campaign money.
In 1907, Congress banned corporate contributions to federal candidates in the wake of the robber baron-era scandals. In 1947, the ban was formally applied to corporate expenditures and extended to cover labor unions.
NYPIRG released a report last week of the largest donations in New York state politics over the past year. The numbers, while no longer surprising, mirror the disturbing state of campaign spending at the federal level, and they raise some important questions about the underlying institutions necessary for democratic elections and political accountability.
The difference is obvious, Potter replied. Because 527 groups were legally shady, they attracted far less money from fewer donors. True, the FEC didn’t enforce the law, but donors couldn’t be sure that would be the case, and some were unwilling to take the risk.
The U.S. Supreme Court's Citizens United decision unleashed the specter of unlimited corporate political donations in U.S. elections. So far, however, it's mostly rich individuals doing the donating.
A new report from two public-interest groups confirms fears "that the cash for big-ticket campaign spending like TV advertising is increasingly controlled by an elite class of super-rich patrons not afraid to plunk down a million bucks or more for favored candidates and causes."
One of the effects of the Supreme Court's Citizens United decision is that it allowed corporations to give unlimited amounts to independent expenditure political action committees capable of supporting or opposing political candidates.
But a new report from the non-profit group Demos shows that the majority, 55.6 percent, of donations to super PACs in 2010 and 2011 still came from individuals rather than for-profit entities.
A joint analysis by Demos and US PIRG released today takes a detailed look at the increasing (and deleterious) impact that so-called Super PACs are having on elections in the United States. Super PACs are independent political action committees that can accept unlimited and often undisclosed financial contributions from donors to campaign for or against candidates or issues during an election.
Six out of the top 10 fundraising super PACs have received untraceable donations. In total, 20 percent of super PACs received untraceable donations in 2011.
A study entitled "Auctioning Democracy" also found that the super rich give a large amount of the funding received by super PACs. This skews American politics, it concluded, because wealthy donors have different life experiences and political preferences than other citizens.