Thursday, August 06, 2015

Buying poitical power

Charles and David Koch invited 450 donors who paid $100,000 to meet and visit with five top GOP candidates at the Saint Regis Monarch Beach resort. At least 67 are billionaires, or are married to one, according to Forbes.

A New York Times study of IRS records and Federal ElectionCommission reports determined fewer than 400 families account for close to half of all donations raised for the 2016 presidential election. Only 130 families and their businesses provided more than half the money raised through June by Republican candidates and their super PACs.

Although the presidential election that remains 15 months away $388 million is already circulating around the potential candidates.

More than 30 individuals or corporations have given $1 million or more, based on the super PACs that have filed so far.

More than $13 million of the $20 million raised so far by Wisconsin Gov. Scott Walker came from four donors: a home-state roofing billionaire and union opponent, a New York investor, a family in Nebraska and Illinois, and descendants of the Schlitz brewing founders.
$12.5 million of Florida Sen. Marco Rubio’s $16 million came from four donors, including a billionaire auto dealer and tech investor.
Texas Sen. Ted Cruz has raised $37 million, nearly all from three donors, led by hedge fund investor Robert Mercer, the top individual donor in the country, who has given Cruz $11 million. He received $15 million from Texas fracking billionaires and $10 million from a private equity investor, Toby Neugebauer, who moved to Puerto Rico two years ago because it has more favorable tax laws.
Jeb Bush’s super PAC has $103 million, including 26 individuals or companies that gave $1 million or more.
Hillary Clinton has a super PAC with $15 million, mostly from nine investors contributing $1 million.

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