Monday, April 18, 2016

close to half of all superPAC money comes from just 50 donors...,


WaPo |  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 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 in 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.

The staggering amounts reflect how super PACs have become fundraising powerhouses just six years after they came on the scene. The concentration of fundraising power carries echoes of the end of the 19th century, when wealthy interests spent millions to help put former Ohio governor William McKinley in the White House.