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Originally Posted by Jim in CT
When politicians sell influence to the highest bidder, that's bad for everyone. Would Warren's bill also limit/ban contributions from labor unions? Or only from other businesses? People tend to forget that just as the GOP gets donations from Wall Street, so do the democrats get donations from labor unions and Hollywood. They all have their masters.
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Those evil labor unions are not the big donors
The top five donors to super PACs in the 2016 election are all billionaires or, at least, worth nine figures. There’s the environmentalist former hedge fund manager Tom Steyer. He has donated $66.2 million to NextGen Climate Action, his super PAC supporting Democratic candidates who back action to counter climate change. Republican casino billionaire Sheldon Adelson and his wife have donated $52.9 million. S. Donald Sussman, the Democratic hedge fund billionaire, has given $37.2 million to an array of super PACs. Newsweb Corporation chairman Fred Eychaner has supported Democrats with $32.1 million in super PAC donations. Facebook billionaire Dustin Moskovitz and his wife, Cari Tuna, have donated $22 million to super PACs supporting Democrats.
These donors combined to give more than $210 million ― more than all reported election spending by labor unions. In total, super PAC donations by rich people giving more than $500,000 topped $757 million by Oct. 19. That’s nearly six times the amount donated by labor.