22 very wealthy people will pick the next US President.
This past week, Obama decided to officially embrace a Super PAC to help him get elected when he had previously stated that Super PACS where a threat to democracy.
Has Obama gone to the dark side you ask?
In a way.. yes.. because it’s the ONLY way he’ll get elected. Period.
The person who spends the most money in an election wins nine times out of ten.
Until recently, there were limits on how much money a company or person could give to a politician for fear of corrupting that politician. Which makes sense, right?
Well.. the Supreme Court felt that there is no proof that politicians can be corrupted by money (yeah right!). In their Citizens United ruling, they opened the floodgates for unlimited contributions by individuals and corporations and even allowed the contributors to remain hidden!
Whereas Obama’s average contribution was $55 from individuals over half of all the money that’s gone to the top Super PACS was given by just 22 donors each giving over a half a million dollars apiece.
That means that the next president could be bought and paid for by just 22 wealthy individuals.
Until the law is reversed, Obama has no choice but to succumb to the dark side to get elected.
Some additional reading on Super PACS:
First Read – First Thoughts: A ‘Super’ reversal
Money Wins Presidency and 9 of 10 Congressional Races in Priciest U.S. Election …
First Read – Group wants investigation of Obama, Romney Super PACs
Opinion: Will 2012 be shaped by social media or super PACs? – Maria Teresa Kumar…