Democrats and GOP Getting Richer
by Our political leadership has the nerve to harangue regimes in countries like Liberia where money floats at the top, corruption is prevalent, and positions are bought and sold like stocks. At least in places like Liberia their leadership doesn’t try to deny that fact.
Despite a federal deficit and downward spiral in the economy, the political party establishment remains quite unaffected; in fact, they seem to be getting richer. On Tuesday, the RNC legal team filed an appeal against the 1908 ban on ‘hard money’ corporate donations to political parties. Their argument stems from the 2010 Citizens United ruling which opened the flood gate for unlimited donations to peripheral super PACs. According to the legal team, “the complete ban both is over-inclusive to this aim and artificially disadvantages political party and candidate committees.”
Really? Political parties, disadvantaged?
Fiscal reports, history, and common sense indicate quite the contrary. Mitt Romney announced this week that his campaign had raised an additional $24 million on top of $19 million already socked away in the bank. According to the Obama campaign, the Democratic Party has already pocketed nearly $141 million for his 2012 re-election bid. Open Secrets reports for the 2012 election cycle peg RNC spending so far at $65 million with $94 million raised and $30 million cash on hand. For the DNC 2012 election cycle, Open Secrets lists $98 million spent, $102 million raised, and $12 million cash on hand. Take a look at Congress and the richest 10 congressman, both Democrats and Republicans, maintain a total net worth of nearly $2 billion. To top it off, the average wealth of both houses is $7 million! Frankly, the US could probably jumpstart its economy and start slashing the deficit by pawning off its entire political leadership.
If any candidates are being disadvantaged, its runners like Buddy Roemer who refuse corporate donations on principle but remain locked out of debates and the primaries in several states because of a thin wallet. If it’s anyone who is disadvantaged, it’s the 49 million Americans currently under the poverty line while Democratic and Republican congressman continue to accumulate six figure salaries, pensions, insider trading information, and under-the-table gifts. If the RNC manages to overturn the corporate ban, it would be out of flagrant disregard for the average American with both parties benefiting heavily in a game already tipped in their favor. Still, our political leadership has the nerve to harangue regimes in countries like Liberia where money floats at the top, corruption is prevalent, and positions are bought and sold like stocks. At least in places like Liberia their leadership doesn’t try to deny that fact.
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