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Five super-rich men are deciding the GOP nomination - A quarter of the money that has fueled a bitter nomination battle among Republican White House hopefuls, from which no settled favorite has yet emerged, has come from just five super-rich Americans. The sway that wealthy donors have been able to exert has come about due to them pouring money into so-called super PACs, political action committees with no formal affiliation to a candidate but, more crucially, no funding cap. […] Around $126 million has so far been donated to super PACS, with nearly 25 percent of that money coming from Simmons, Adelson, Friess, Peter Thiel, the co-founder of PayPal, and Houston construction magnate Bob Perry.

    Five super-rich men are deciding the GOP nomination - A quarter of the money that has fueled a bitter nomination battle among Republican White House hopefuls, from which no settled favorite has yet emerged, has come from just five super-rich Americans. The sway that wealthy donors have been able to exert has come about due to them pouring money into so-called super PACs, political action committees with no formal affiliation to a candidate but, more crucially, no funding cap. […] Around $126 million has so far been donated to super PACS, with nearly 25 percent of that money coming from Simmons, Adelson, Friess, Peter Thiel, the co-founder of PayPal, and Houston construction magnate Bob Perry.

    — 2 years ago with 7 notes
    #news  #politics  #super rich  #five men deciding gop nomination  #one percent  #wealthy  #super pacs 
    GOP Groups Plan $1 BILLION Push for Romney (that’s billion, with a B) — “Republican super PACs and other outside groups shaped by a loose network of prominent conservatives — including Karl Rove, the Koch brothers and Tom Donohue of the U.S. Chamber of Commerce — plan to spend roughly $1 billion on November’s elections for the White House and control of Congress,” Politico reports. “That total includes previously undisclosed plans for newly aggressive spending by the Koch brothers, who are steering funding to build sophisticated, county-by-county operations in key states… Koch-related organizations plan to spend about $400 million ahead of the 2012 elections — twice what they had been expected to commit.” – Political Wire
Right-Wing Billionaires Behind Mitt Romney (and the GOP’s capitulation to Big Money) – In the primary season alone, Romney’s rich friends invested $52 million in his Super PAC, Restore Our Future – a number that’s expected to more than double in the coming months. This unprecedented infusion of money from America’s monied elites underscores the radical transformation of the Republican Party, which has made defending the interests of 0.0001 percent the basis of its entire platform.“Money buys power,” the Nobel Prize-winning economist Paul Krugman observed recently, “and the increasing wealth of a tiny minority has effectively bought the allegiance of one of our two major political parties.” In short, the political polarization and gridlock in Washington are a direct result of the GOP’s capitulation to Big Money. – Tim Dickinson | Rolling Stone
Mitt Romney is meeting with Sheldon Adelson — the billionaire casino magnate and big Newt-Gingrich supporting super-PAC donor — in Las Vegas on Tuesday, according to CBS News and CNN. …Adelson and his wife, Miriam, gave $20 million to Winning Our Future, the pro-Gingrich super PAC. — HuffPo

    GOP Groups Plan $1 BILLION Push for Romney (that’s billion, with a B) — “Republican super PACs and other outside groups shaped by a loose network of prominent conservatives — including Karl Rove, the Koch brothers and Tom Donohue of the U.S. Chamber of Commerce — plan to spend roughly $1 billion on November’s elections for the White House and control of Congress,” Politico reports. “That total includes previously undisclosed plans for newly aggressive spending by the Koch brothers, who are steering funding to build sophisticated, county-by-county operations in key states… Koch-related organizations plan to spend about $400 million ahead of the 2012 elections — twice what they had been expected to commit.” – Political Wire

    • Right-Wing Billionaires Behind Mitt Romney (and the GOP’s capitulation to Big Money) – In the primary season alone, Romney’s rich friends invested $52 million in his Super PAC, Restore Our Future – a number that’s expected to more than double in the coming months. This unprecedented infusion of money from America’s monied elites underscores the radical transformation of the Republican Party, which has made defending the interests of 0.0001 percent the basis of its entire platform.“Money buys power,” the Nobel Prize-winning economist Paul Krugman observed recently, “and the increasing wealth of a tiny minority has effectively bought the allegiance of one of our two major political parties.” In short, the political polarization and gridlock in Washington are a direct result of the GOP’s capitulation to Big Money. – Tim Dickinson | Rolling Stone
    • Mitt Romney is meeting with Sheldon Adelson — the billionaire casino magnate and big Newt-Gingrich supporting super-PAC donor — in Las Vegas on Tuesday, according to CBS News and CNN. …Adelson and his wife, Miriam, gave $20 million to Winning Our Future, the pro-Gingrich super PAC. — HuffPo
    — 2 years ago with 1 note
    #news  #politics  #how to buy the white house  #citizens united  #mitt romney  #super pacs  #billionaires  #one percent  #plutocracy  #republicans  #gop  #sheldon adelson 
    "Three GOP fundraisers familiar with the plans of the billionaire Koch brothers and their rich friends told The Huffington Post that their donor network is expected to funnel this year tens of millions into conservative groups, including the National Rifle Association, Grover Norquist’s Americans for Tax Reform, the National Right to Life Committee, Ralph Reed’s Faith and Freedom Coalition, the 60 Plus Association and the American Future Fund. By spreading their wealth throughout the conservative ecosystem, the Kochs can exploit trusted brands with passionate followings that reach beyond the Tea Party base. These three sources all requested anonymity since they are not authorized to speak about the Koch donor network’s plans."
    — 2 years ago with 1 note
    #news  #politics  #plutocracy  #buying a president  #buying congress  #mitt romney  #super pacs  #citizens united  #republicans 
    We have exactly 155 days: Obama or Romney →

    Romney’s PR HQ (Buzzfeed politics) has a roundup of every emo firebagger they could find, who’s had a ‘sad’ since the 2010 elections (which they didn’t bother to vote in). They want us all to know that their shattered hopes and dreams are the reason they’re not contributing to Obama’s campaign this time around:

    Most Obama Donors Not Giving Again

    “In 2008, more than 550,000 gave more than $200 to Barack Obama, entering their names in the longest list of individual donors ever seen in American politics,” Ben Smith reports.

    “But now, as Obama struggles to keep pace with his 2008 fundraising clip, that list offers a cross-section of Democratic disappointment and alienation. According to a BuzzFeed analysis of campaign finance data, 88% of the people who gave $200 or more in 2008 — 537,806 people — have not yet given that sum this year. And this drop-off isn’t simply an artifact of timing. A full 87% of the people who gave $200 — the sum that triggers an itemized report to the Federal Elections Commission — through April of 2008, 182,078 people, had not contributed by the end of last month.”

    I don’t know if these people are actually ‘real’ or more like urban legends — like the woman quoted in the article who says she wanted a more expansive health care bill: “We were a little upset about healthcare. I really, really wanted that public option,” Mrs. Leitzinger said (Really?! Still? I guess Obama should’ve just put that law through himself–who needs Congress?) — but what I do know is that there will be only two choices on November 6: Obama or Romney. And, sorry kids, as much as you hate hearing it — not choosing IS choosing.

    In the next five months because of Citizens United, corporate interests and the one percent are going to try to buy themselves a president by injecting $1 BILLION into super PACs for national advertising to sway independents and moderates over to Romney. And as sure as the sun will rise in the morning, every fundamentalist, teabagger, and rightwinger — all the social conservatives — will be in line to vote for the Republican. Serious question: just how far do you think your progressive ideals and beliefs will go with “President Romney”? Remember George W — multiply him by Tea Party.

    We only have five months. I haven’t gotten everything I wanted from Obama — but who’s ever gotten everything they want from one person in the entire history of the world?  I am able to realize that I’ve been happier with what he’s done, with what he represents, and especially with his potential than I ever would have been with McCain/Palin (that still makes me  shudder!). Four more years of Obama extends his potential — and ours. The fact of the matter is that Mitt Romney doesn’t care about the things I care about — he doesn’t even pretend to care. No I don’t want to extend tax cuts for the wealthiest, paid for by cutting programs and services to the neediest, with austerity for the rest of us — the not-wealthy. There’s no way Romney would ever consider issues or policies that I think are important. And there’s the deciding factor for me.

    Because of this article, I contributed today and will continue through November 5. Maybe you should think about it too.

    Do you really want to take a chance of waking up on November 7 with Romney as the winner?

    — 2 years ago
    #news  #politics  #vote!  #2010  #campaign  #Citizens United  #Democrats  #donate  #donors  #emo progs  #firebaggers  #grassroots  #herding cats  #Mitt Romney  #not choosing is choosing  #one percent  #plutocracy  #President Obama  #Republicans  #super pacs 
    Billionaires buying the White House
As long as billionaires are essentially funding Mitt Romney’s campaign with $10 million donations, Barack Obama can fundraise with as many fashion designers and movie stars as he pleases. Because being bought by billionaires is not the same as getting help from Anna Wintour and Sarah Jessica Parker. Sorry, but it’s not. – via: inothernews
Political Wire:A well-placed source in the Sheldon Adelson camp tells Forbes that further donations from the casino billionaire to Super PACs supporting Mitt Romney will be “limitless.” The source says Adelson will do “whatever it takes” to defeat President Obama and that “no price is too high” to protect the U.S. from what he sees as Obama’s “socialization” of America.
What’s $100 million to Sheldon Adelson? As NPR White House correspondent Ari Shapiro notes today, $100 million constitutes the same percentage of Adelson’s wealth that $300 to $400 does for normal Americans. As Shapiro tweets: “Sheldon Adelson says he may spend $100m on this presidential race. As a % of wealth, that would be like a typical US family giving $360.” — The Atlantic 
image: Mother Jones

    Billionaires buying the White House

    As long as billionaires are essentially funding Mitt Romney’s campaign with $10 million donations, Barack Obama can fundraise with as many fashion designers and movie stars as he pleases. Because being bought by billionaires is not the same as getting help from Anna Wintour and Sarah Jessica Parker. Sorry, but it’s not.via: inothernews

    Political Wire:A well-placed source in the Sheldon Adelson camp tells Forbes that further donations from the casino billionaire to Super PACs supporting Mitt Romney will be “limitless.” The source says Adelson will do “whatever it takes” to defeat President Obama and that “no price is too high” to protect the U.S. from what he sees as Obama’s “socialization” of America.

    What’s $100 million to Sheldon Adelson? As NPR White House correspondent Ari Shapiro notes today, $100 million constitutes the same percentage of Adelson’s wealth that $300 to $400 does for normal Americans. As Shapiro tweets: “Sheldon Adelson says he may spend $100m on this presidential race. As a % of wealth, that would be like a typical US family giving $360.” — The Atlantic 

    image: Mother Jones

    — 2 years ago with 4 notes
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #$10 million donation  #billionaires  #buying a president  #buying the white house  #campaign donations  #Citizens United  #limitless  #Mitt Romney  #President Obama  #Sheldon Adelson  #super pacs 
    McConnell doesn’t want you to know which billionaires want to buy a Republican for the White House →

    Sam Stein reports on why Mitch McConnell wants to protect the very wealthy from your “scrutiny” and “backlash”

    In a series of speeches and interviews over the past day, Senate Minority Leader Mitch McConnell (R-Ky.) argued against adding a further layer of disclosure to the campaign finance system, suggesting that the Obama administration would use it to browbeat political opponents.

    The Kentucky Republican has long been one of Congress’ foremost advocates of a far-reaching interpretation of First Amendment rights. And his remarks, first to Fox News, then to the Faith and Freedom Conference and finally to the American Enterprise Institute, followed in that vein.

    …Donors to politically active nonprofit groups, he said, do not deserve to be subjected to public scrutiny or backlash.

    That’s really very interesting, considering that Buzzfeed (Romney’s personal online PR firm) is reporting that Santorum’s old sugar daddy, Foster Friess, says he’s going to donate to Romney’s campaign “undercover:”

    “Well I’m going to do that more undercover, I’m going to do it through a lot of c4′s so it’s not so high profile,” Friess said at the Faith and Freedom Conference, where he is scheduled to speak on Saturday. “I was stunned to see how much attention — I had no idea what happened, I must have had 60 or 70 interviews.” “So I think if I do it through c4′s, I can keep a lower profile which is probably better.” Friess explained the tactic further. “If you give to a c4, it doesn’t get disclosed,” Friess said. ”If you give to a c4, it doesn’t get disclosed,” Friess said. “So if I give money to various organizations, nobody knows what I’m giving. Even my wife won’t know.”

    Notice they were both at the Faith and Freedom Conference.

    — 2 years ago with 4 notes
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #billionaires  #buying a president  #buying the white house  #Citizens United  #disclosure  #foster friess  #Mitch McConnell  #Mitt Romney  #plutocracy  #President Obama  #Republicans  #super pacs 
    Mitt Romney’s presidential campaign may be the greatest business decision the one percent ever made →

    The super secret, exclusive shindig for Mitt Romney’s biggest donors in Park City, Utah, dubbed the “First National Romney Victory Leadership Retreat,” over the weekend has some interesting details. If you don’t find this information at least a little bit alarming, I suggest you check yourself for a pulse.

    Politico describes the setting — “Eight hundred top donors gathered in the ballroom of a resort here to watch the presentation: the Romney campaign for president is organized, efficient and run like a business. In other words, their money is being wisely invested. The price tag for entry to the exclusive donor retreat was $50,000 and included access to some of the GOP’s biggest names — Jeb Bush, Karl Rove, Condoleezza Rice, as well as a briefing from top Romney officials on how they planned to beat President Barack Obama in November. It was a way of saying “thank you” to the hundreds of bundlers — fundraisers who tap their network of friends, family and associates to raise far more than the $2,500 they are allowed to individually contribute to a campaign. While Obama discloses his bundler list, Romney shrouds his in secrecy and the goings-on this weekend were held strictly behind closed doors.”

    And who are the lucky folks who scored exclusive invitations? No idea.

    Steve Benen comments – ”All of this, apparently, is “a way to reward top-performing bundlers, who make their own donations and then raise many times that from their networks of friends and associates.” To be sure, this is quite a treat for these bundlers, who will reportedly be “briefed on campaign strategy” during the posh affair (the agenda for Saturday evening includes “dessert and dancing”). […] Unlike George W. Bush, John McCain, and Barack Obama, each of whom voluntarily disclosed the names of their bundlers, Romney refuses to share this information, preferring to maintain a veil of secrecy over his fundraising operation. These bundlers are poised to get extraordinary access to Republican leaders and the man who may be president next year, but we aren’t allowed to know who they are.”

    The NYTimes describes the complete access to power for the wealthiest — “Everybody was completely accessible,” said Anthony Scaramucci, a New York financier and Romney fund-raiser who said the candidate took the time to warmly greet and thank him by his nickname, Mooch, at a dinner on the first night of the retreat. […] Donors were unabashed about their desire to have face time with those who might constitute the brain trust in a Romney White House. David A. Wish, a Florida doctor and Romney fund-raiser, said that in order to sell the candidate to potential contributors, “we need one-on-one time with the people who make decisions.” […] On Thursday night, Mr. Rove held court on a hotel balcony with about a half-dozen financial executives, who peppered him with questions about Mr. Romney’s chances… After Mr. Rove walked away, the gaggle of men excitedly recounted the conversation, reveling in their access. “That’s the price of admission right there,” one donor said to another. “Your six minutes with Rove.”

    And, according to Buzzfeed, Bain was there — “Flight records passed along by a Democratic source show that the Bain Capital Jet company jet flew from Bedford, Massachusetts to airfield near Romney’s Utah donor retreat on Friday.”

    Think Progress notes that Karl Rove’s participation at this event demonstrates Romney’s poor judgement and hypocrisy – A Saturday panel on “media insight” will feature American Crossroads and Crossroads GPS co-founder Karl Rove. The Crossroads reportedly plan to spend a stunning $300 million to help Romney defeat President Barack Obama this November, but they are legally prohibited from coordinating this effort with Romney’s campaign. […] in December, Romney decried the rise of Super PACs like Rove’s American Crossroads, saying they have been a “disaster” for the political system. He said at the time: Super PACs have to be entirely separate from a campaign and a candidate. I’m not allowed to communicate with a super PAC in any way, shape or form… If we coordinate in any way whatsoever, we go to the big house.

    — 2 years ago with 2 notes
    #unemployment  #income redistribution  #class war  #war on the middle class  #vote!  #politics  #news  #Republicans  #President Obama  #Utah  #Mitt Romney  #hypocrisy  #Condoleezza Rice  #karl rove  #Crossroads GPS  #plutocracy  #bain capital  #super pacs  #jeb bush  #1. tax cuts for the wealthy  #2. austerity for the rest of us  #buying a president  #buying the white house  #First National Romney Victory Leadership Retreat  #park city utah  #top donors  #posh  #exclusive  #bundler list  #undisclosed 
    Citizens United and transparency: it really is your choice →

    What are the Democrats working on, with regard to donor transparency and the ridiculous idea that “corporations are people too” Citizens United ruling?

    The Raw Story reports that Nancy Pelosi wants to fix the SCOTUS’ Citizens United ruling: “In a conference call, House Minority Leader Nancy Pelosi (D-CA) told reporters, “We must amend the constitutional to fix Citizens United.” Her latest call to action was spurred by Monday’s Supreme Court decision to overturn Montana’s 1912 law limiting corporate spending in political campaigns based on its 2010 Citizens United ruling. The court’s decision led Montana’s governor Brian Schweitzer (D) and Lt. Gov. John Bohlinger (R) to call for a constitutional amendment to overturn the decision.”

    Great! What are the Republicans working on? Read more…

    — 2 years ago
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #1. tax cuts for the wealthy  #2. austerity for the rest of us  #campaign transparency  #choice  #Citizens United  #corporations are people too  #Democrats  #donors  #Mitch McConnell  #Nancy Pelosi  #Republicans  #super pacs  #undisclosed donors