- commentary
- SATURDAY OCTOBER 28 2006 9:00 PM
Corporate Donors Switching to Democrats
Submitted by legionnaire
Edited by legionnaire
Most people think that all corporations favor Republican political candidates because of their overt friendliness to "big business," their willingness to support "free trade" while keeping protectionist trade barriers in place to help domestic industries, and their aversion to taxes. While corporations have been much more generous in their donations to Republican political candidates in the past few years, it's not so much for their political views, but because they prefer to bet on winners. The truth is that while on some issues Democrats take a slightly harder tack on corporate excess and greed, for the most part the mantra ever since Bill Clinton was first elected was to leave business alone and just let them make money. Now that the political winds have begun to shift, like sharks smelling blood in the water, the corporate donations are following.
Corporate America is already thinking beyond Election Day, increasing its share of last-minute donations to Democratic candidates and quietly devising strategies for how to work with Democrats if they win control of Congress.
The shift in political giving, for the first 18 days of October, has not been this pronounced in the final stages of a campaign since 1994, when Republicans swept control of the House for the first time in four decades.
Though Democratic control of either chamber of Congress is far from certain, the prospect of a power shift is leading interest groups to begin rethinking well-established relationships, with business lobbyists going as far as finding potential Democratic allies in the freshman class even if they are still trying to defeat them on the campaign trail and preparing to extend an olive branch the morning after the election.
Fantastic. So we can all sleep soundly tonight, knowing that even if Democrats do manage the herculean feat of retaking one or both houses of Congress away from the Republicans, they'll still be happily in the pocket of corporate America.
Republicans still received 57 percent of contributions, compared with 43 percent for Democrats, but it was the first double-digit October switch since 1994. A lot will hold their powder for now, said Brian Wolff, deputy executive director of the Democratic Congressional Campaign Committee. But after the election, we will have a lot of new friends.
You can almost see the sleave for yourself.
Isn't this exactly what the McCain-Feingold campaing reform bill was specifically written to address? Of course, that lasted all of about four seconds before new ways were found to funnel money to candidates running for office. While limits on donations toiindividual candidates were put into place by the bill, it still allowed for large corporations (and individuals, unions, etc.) to donate as much as they liked to Political Action Committess, also sometimes known 527 groups, which while they cannot be directly affiliated with any particular candidate, usually skirt awfully close to that line (think Swift Boat Veterans for Truth and The Club for Growth.) Not only are these donations still possible and unrestricted, but they're also tax deductible. So corporations divert money that shuold be going as taxes to pay for the government and subvert the interests of the rest of the country by contributing donations to PACs for "their" candidates.
The real kicker, however, is that so-called "grassroots" activism, that is small donations sent in by lots and lots of "regular" people, has exploded along with the internet. Netroots groups raised over three hundred thousand dollars to support Ned Lamont's primary campaign against Joe Lieberman. Hardly an insignificant number, and that's just a single candidate. It's not quite there yet, but the distinct possibility exists that in the future one may be able to win an election entirely without corporate donations. Small scale donations are helpful in that no single individual wields too much influence on the candidate in question, so the candidate is not obligated to serve any particular interest if elected. This is a powerful notion for modern politics, but as yet there do not seem to be any viable candidates who are publicly disavowing corporate donations in the hopes of running a campaign entirely from the grassroots level. That seems like the only way that the endless flood of corporate money corrupting American politics can be dried up.




Comments
gunphreek
I'm lost
September 2004
OCT 28, 2006 09:27 PM
SGrizzy
Tampa, FL
January 2004
OCT 28, 2006 09:35 PM
gunphreek
I'm lost
September 2004
OCT 28, 2006 09:40 PM
Kenet
USA
November 2004
OCT 28, 2006 10:00 PM
darwinsjoke
Virginia Beach, VA
July 2003
OCT 28, 2006 10:12 PM
pascalpp
Brooklyn, NY
January 2004
OCT 28, 2006 10:40 PM
skeptik
New Orleans, LA
February 2004
OCT 28, 2006 10:48 PM
SGrizzy
Tampa, FL
January 2004
OCT 28, 2006 10:58 PM
NewSpectre
Baltimore, MD
March 2005
OCT 28, 2006 11:04 PM
NickFaust
USA
April 2004
OCT 29, 2006 05:18 AM
orbro
New York, NY
July 2004
OCT 29, 2006 07:48 AM
legionnaire
Belgium
November 2003
OCT 29, 2006 08:15 AM
skeptik
New Orleans, LA
February 2004
OCT 29, 2006 08:16 AM
Subrosa
San Francisco, CA
July 2004
OCT 29, 2006 08:28 AM
gunphreek
I'm lost
September 2004
OCT 29, 2006 08:12 PM