The new Gilded Age: Close to half of all super PAC money comes from 50 donors

[Triana]

A small core of super-rich individuals is responsible for the record sums cascading into the coffers of super PACs for the 2016 elections, a dynamic that harks back to the financing of presidential campaigns in the Gilded Age.

Close to half of the money — 41 percent — raised by the groups by the end of February came from just 50 mega-donors and their relatives, according to a Washington Post analysis of federal campaign finance reports. Thirty-six of those are Republican supporters who have invested millions trying to shape the GOP nomination contest.

In all, donors this cycle have given more than $607 million to 2,300 super PACs, which can accept unlimited contributions from individuals and corporations. That means super PAC money is on track to surpass the $828 million that the Center for Responsive Politics found was raised by such groups for the 2012 elections.

. . .


“To date, this may be the most democratic election in American history,” said Neugebauer, the GOP energy investor who has given more than $10 million to super PACs aligned with Cruz. “The special-interest large donors are being overpowered by the millions of Americans who want their country back.”

THE REST:

https://www.washingtonpost.com/politics/the-new-gilded-age-close-to-half-of-all-super-pac-money-comes-from-50-donors/2016/04/15/63dc363c-01b4-11e6-9d36-33d198ea26c5_story.html

[nadinbrzezinski]

1. Wow! I hate to be wrong

Honest, I thought it was less.

[brewens]

2. I thought one of the great things about Obama's wins was that those bastards pissed away all that

money. But in the end, they ended up getting or keeping most of what they were paying for anyway. Hillary will see to it that doesn't change if she wins. At least Bernie will try and help the rest of us. I know that.

[felix_numinous]

3. K&R