When Congress narrowly missed another government shutdown in December by passing the “cromnibus” bill, much of the press coverage focused on Capitol Hill’s ongoing dysfunction. However, buried inside the bill was yet another blow to campaign finance regulations, dramatically increasing the amount of money donors can give to political parties. A single couple can now give up to $3.1 million to a political party over a two-year election cycle, a six-fold increase.
Inequality is growing because the increased wealth of the wealthiest no longer spawns income opportunities for the less well-off households and may actually diminish them.
Two new studies by political scientists offer compelling evidence that the rich use their wealth to control the political system and that the U.S. is a democratic republic in name only.
After years of hardship, America’s middle class has gotten some positive news in the last few months. The country’s economic recovery is gaining steam, consumer spending is starting to tick up (it grew at more than 4 % last quarter), and even wages have started to improve slightly. This has understandably led some economists and analysts to conclude that the shrinking middle phenomenon is over. [...]
Billionaire energy industry brothers Charles and David Koch are planning a 2016 campaign spending blitz that would easily eclipse previous outside political efforts, with the brothers and their political network poised to spend nearly $900 million to elect conservative candidates to Congress, the presidency, and state legislatures across the country.
The last two years of Obama’s presidency will largely be defined by his defense of key legislation: the Affordable Care Act, caps on carbon emissions and Dodd-Frank. While the broad shape of the first two battles is already known, the war on financial regulation, because of its abstract nature, will often be waged outside of the public eye.
It’s been five years since the Supreme Court decided Citizens United, which allowed unlimited corporate money into the political system and increased the domination of democracy by the wealthy elite. Money has indeed overwhelmed the system since 2008.
If you're wondering why issues favored by a majority of Americans such as raising the minimum wage, gun control and net neutrality get scarcely any attention in the halls of Congress, the Citizens United case is the reason.
Five years ago this week, in Citizens United v. Federal Election Commission, the Supreme Court decided to allow unlimited amounts of corporate spending in political campaigns. How important was that decision? At the time, some said criticism of the decision was overblown, and that fears that it would give outsize influence to powerful interests were unfounded. Now, the evidence is in, and the results are devastating. [...]
Five years after the Supreme Court’s 2010 Citizens United v. FEC decision, what are the roles of large donors and average voters in selecting and supporting candidates for Congress?
On November 10, 2014, the Brennan Center for Justice released a new report, Outside Spending and Dark Money in Toss-Up Senate Races: Post-election Update, which describes the rise in spending by outside groups—many of which do not publicly disclose all of their funds’ sources—in eleven competitive races. Highlights of the report include:
On a new survey which finds that hedge funds and traders of stocks and bonds are predicted to see bonuses drop by as much as 10 percent from last year.
No matter who wins each of the hundreds of elections today, one thing's for sure: a relative handful of large donors and spenders are setting the agenda and terms of debate, while the rest of us are on the sidelines.
The FDIC estimates there are 10 million people living in the U.S. who do not have a bank account — that’s one out of every 13 households. Nearly 33 percent of people living in Starr County, TX can’t write a check. In one census district in Savannah, GA, over 42 percent of residents are unbanked. The unbanked are usually poor, often minorities, and find themselves shunned by banks that can’t make money off them. Typically, they end up turning to predatory check cashers and payday lenders. Many also feel a great sense of social division between themselves and those who have bank accounts.