Jul 25, 2012, 5:13 pm EDT
As few as four dozen donors and families could sway the election this fall. Who are these people? They’re the ones who have given at least $1 million to a super PAC thus far.
So far, $308 million has been raised by super PACs in this election cycle. Of that money, $130 million comes from donors giving $1 million or more, which is about 40% of the total given. This is even more pronounced on the GOP side, where nearly half of the $228 million raised by Republican-affiliated super PACs has come from $1 million-plus donations.
Who are the most generous givers right now? It probably comes as no surprise, given the way Barack Obama’s super PAC has lagged behind Mitt Romney’s, that they are all Republican supporters. Currently leading the way are Sheldon and Miriam Adelson of the Las Vegas Sands Corp. (NYSE:LVS) with a $34.75 million donation, Contran Corporation’s Harold and Annette Simmons with a $17.2 million donation from them and Contran, Houston home builder Bob Perry with a $10.35 million donation, and PayPal (now an eBay (NASDAQ:EBAY) subsidiary) co-founder Peter Thiel with a $3.6 million donation. Read
Jul 25, 2012, 4:19 pm EDT
By Curtis Dubay, The Heritage Foundation
Taxmageddon is the one-year $494 billion tax increase that is poised to strike the economy on January 1, 2013. It consists of expiring tax policies such as those set in 2001 and 2003 and the 2010 payroll tax cut. Taxmageddon also includes five Obamacare tax increases.
Congress should not let Taxmageddon occur. It will devastate the economy and job creation. Below are the top five reasons Taxmageddon destroys jobs. Read
Jul 25, 2012, 10:56 am EDT
Now he tells us!
Sandy Weill, the former CEO and chairman of Citigroup (NYSE:C) who invented the one-stop shopping financial supermarket idea of too-big-to-fail banks, says we should break them up.
That’s right: The man who spearheaded the death of Glass-Steagall — the Depression-era law that separated commercial banking from investment banking and insurance underwriting — now thinks we should go back in time and undo all these risky combinations. Read
Jul 24, 2012, 5:15 pm EDT
If K Street has seemed a little less busy over the past few months, there’s a good reason for that.
The top 50 lobbying spenders spent $30 million less in the second quarter of this year than they did during the first quarter, according to lobbying disclosure releases. Overall, they spent $168 million between April and June.
In many cases, the corporations and trade groups that make up the top lobbying spenders made deep cuts to their lobbying efforts. AT&T (NYSE:T) went from spending $7.05 million during the first quarter to $3.49 million in the second, a nearly 50% cut. Also making $1 million-plus cuts were companies like ExxonMobil (NYSE:XOM), General Electric (NYSE:GE), Google (NASDAQ:GOOG), Pfizer (NYSE:PFE), Novartis (NYSE:NVS), and Johnson & Johnson (NYSE:JNJ). Read
Jul 23, 2012, 3:07 pm EDT
Political fundraising events are often star-studded affairs. The one being planned for President Obama by Vogue Editor-In-Chief Anna Wintour and producer Harvey Weinstein is no exception.
The guest list has not been made public, but Meryl Streep and Michael Kors were among the attendees at a prior Obama fundraising event Wintour co-hosted with actress Sarah Jessica Parker, The Hill reports.
The event will take place on August 6 at Weinstein’s estate and reportedly cost a whopping $35,800 per plate. Read
Jul 23, 2012, 11:32 am EDT
If recent polling is any indication, all the campaign ads and candidate visits that Mitt Romney and Barack Obama have rolled out are preaching to the choir.
A recent poll conducted by The Washington Post and ABC News found there are fewer undecided voters than there were in the past three elections.
Only 6% of those polled said there was a good chance they would change their mind on who they were voting for. Another 13% said it was possible they might change their mind, but unlikely. That leaves less than 1 in 5 voters who say there’s any chance they will change their mind. Read