United States Election being bought by 47-Billionaires
The Public Interest Group Education Fund and the NGO Demos released a study in early August on the financing of the presidential campaign.
They found that nearly 60% of the almost quarter of a billion dollars
raised by Super PACs from individuals derived from just 47 people, who
gave at least $1 million each (obviously some gave much more).
47 people. That’s democracy?
Of these 47, the most generous (or greedy) are Sheldon Adelson and
his wife, who gave $36 million themselves. Since the total known amount
from individuals is $240 million, some 15 percent of the individual
contributions, or one-sixth, are coming from one family.
Some 94% of these funds came from a little more than a thousand
donors, each of whom gave $10,000 or more (47 clearly gave a million or
There are also super pacs funded by corporations, not just individuals! And there are anonymous donors.