Wednesday, July 25, 2012
Most campaign $ comes from a very small, very rich minority
Ezra Klein reports that not only do the top 1% control 40% of America's wealth, but that 67.7% of 2010 total campaign spending came from 0.26% of the population. 24.3% of federal contributions came from 0.01%. In 2011 about 80% of the money raised by SuperPacs comes from 0.000063%. The very richest are in effect buying elections, since this money goes into ad campaigns which bombard the airwaves and heavily influence voters. Democracy?