Friday, May 25, 2012

Mitt Romney and His Right-Wing Billionaires

From: Jane M.
Sent: May 25, 2012
To: undisclosed recipients
Subject: Fw: Mitt Romney and His Right-Wing Billionaires
I'm so sick and tired of our politicians being bought. Whatever happened to common folks volunteering their time and giving back to society? Why wont we learn that when big business buy a candidate we are at the mercy of their agenda and goals. I'm not on top of all goings on in our government but I can smell a rat when I see one. Jane.
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Mitt Romney and His Right-Wing Billionaires
By Tim Dickinson

Presidential politics has always been a rich man's game. But now, thanks to the Supreme Court ruling in Citizens United that upended decades of limits on campaign donations, financing a presidential race is the exclusive domain of the kind of megadonor whose portfolios make Mitt Romney look middle-class. "I have lots of money, and can give it legally now," Texas billionaire and top GOP moneyman Harold Simmons recently bragged to The Wall Street Journal. "Just never to Democrats."

In past elections, big donors like Simmons gave millions for advocacy groups like Swift Boat Veterans for Truth. By law, such groups were only allowed to run issue ads – but instead they directly targeted John Kerry, drawing big fines from the Federal Elections Commission. Now, with the blessing of the Supreme Court, the wealthy can legally hand out unlimited sums to groups that openly campaign for a candidate, knowing that their "dark money" donations will be kept entirely secret. The billionaire Koch brothers, for instance, have reportedly pledged $60 million to defeat President Obama this year – but their off-the-book contributions don't appear in any FEC filings.

Even more money from megadonors is flowing into newly created Super PACs, which, unlike advocacy groups, can spend every cent they raise on direct attacks on an opponent. Under the new rules, the richest men in America are plying candidates with donations far beyond what Congress intended. "They can still give the maximum $2,500 directly to the campaign – and then turn around and give $25 million to the Super PAC," says Trevor Potter, general counsel of the Campaign Legal Center. A single patron can now prop up an entire candidacy, as casino magnate Sheldon Adelson did with a $20 million donation to the Super PAC backing Newt Gingrich.

Read more: http://www.rollingstone.com/politics/news/right-wing-billionaires-behind-mitt-romney-20120524#ixzz1vtpOEHfo

1 comment:

  1. Jane thanks and I agree with you why do we let big interest pay-off our candidates? I would have thought by now we would have learned our lesson.

    ReplyDelete

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