August 23, 2004

527s and the Myth of Campaign Finance Reform

One of the central myths of campaign finance reform is the relative disadvantage the Democrats have financially because they are the tribunes of the working class and the greedy Republicans have all the money.

Here's a list of the fifty largest 527s--the organizations so named because of the provision in the tax code--that are free to raise and use money in campaigns because the parties cannot be trusted with "soft money," the type of money used on general advertising and party building.

Ten of the top eleven are leftist groups who've raised a combined $155.4 million dollars so far.

Gee, thanks McCain/Feingold!

BTW, you won't find the SwiftVets in the top fifty--they've only raised $158,700.

You wonder if George Soros is questioning the return on his investment...

Posted by Steve at August 23, 2004 11:45 AM | TrackBack

Everyone always whines about the GOP being the party of the rich.. check out the top 25 list of individual donors:

GOP: 2 people, contributions totaling 1.5 million.

Dems: 23 people, contributions totaling 56.2 million.

Who is the party for the rich again?

Posted by: Steve at August 23, 2004 01:32 PM
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