Did somebody order the most immaculately perfect example of how the Citizens United ruling will be used to up-end democracy in this country? Because the Atlantic Wire just provided it.
Apparently, 25 percent of all the money flooding into the presidential race this season is coming from a mere five percent.
Oh, wait, did I say five percent? I meant five people…
An analysis of January's campaign-disclosure filings reveals that 25 percent of all the money raised for the presidential race that month came from just five donors. That select group gave $19 million to various super PACs, often in support of more than one Republican candidate. Those numbers come from both The Washington Post and USA Today, though neither gives a complete list of those five top donors of 2012.
However, a look at the biggest overall donors reveals who have been the biggest supporters of this whole campaign and the outsized level of support they've provided — and some indication of how they hope the race will play out. The limit on individual contributions that can go directly to a candidate is $2,500, but when giving to a super PAC the sky is the limit. And a handful of wealthy individuals have already crossed the $1 million threshold in giving.
Now, some of you may be saying that this represents an abject perversion of "democracy." And that may be true. For now.
But I'm sure these five rich dudes will buy up all the dictionaries and fix that soon enough.
Photo by Mark Scott/Photodisc/Getty Images
Tags: Citizens United v. FEC, Money, Super PACs