Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Nearly Half Of All Super-PAC Money Comes From Fifty People
Posted
April 16, 2016
Views
110,710
Likes
2,461
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328
Engagement
2.52%
April 16, 2016
110,710
2,461
328
2.52%
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A massive amount of super-PAC money has already been poured into this election, and we’re not even out of the primaries yet. As impressive as the amount is, what’s even crazier is the small number of donors it has come from. Cenk Uygur, John Iadarola (ThinkTank), and Jayar Jackson, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.
"A small core of super-rich individuals is responsible for the record sums cascading into the coffers of super PACs for the 2016 elections, a dynamic that harks back to the financing of presidential campaigns in the Gilded Age.
Close to half of the money — 41 percent — raised by the groups by the end of February came from just 50 mega-donors and their relatives, according to a Washington Post analysis of federal campaign finance reports. Thirty-six of those are Republican supporters who have invested millions trying to shape the GOP nomination contest — accounting for more than 70 percent of the money from the top 50.
In all, donors this cycle have given more than $607 million to 2,300 super PACs, which can accept unlimited contributions from individuals and corporations. That means super PAC money is on track to surpass the $828 million that the Center for Responsive Politics found was raised by such groups for the 2012 elections.”*
Read more here
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