The .01%: Millions of people give campaign contributions to political parties, candidates, and political action committees (PACs) every year. Increasingly though, politics is being funded by a group of wealthy individuals giving large sums, at least $10,000, to influence elections. A study from the Sunlight Foundation reveals that .01%--one percent of one percent--of the population accounted for 24.3% of all the money contributed in the 2010 elections.
This was a record amount for a midterm election (these mega-donors accounted for 27.5% of all contributions in 2008) and marks the continuation of a trend showing increasing dominance by these one percent of one percenters. One thing accelerating the trend is the explosion in the numbers of those giving more than $10,000. The ranks of the one percent of one percenters has grown from just 6,000 donors in 1990 to 26,783 in 2010. There were 44,743 donors giving more than $10,000 in 2008.
The political parties are becoming more reliant on donations from these donors. In 2010 these mega-donors accounted for 77.9% of all itemized contributions (above $200) to the Democratic Party and 85.9% to the Republican Party.
The full Sunlight Foundation report includes an array of graphics, charts, and maps to peruse. The data is also downloadable.
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Newt Gingrich is getting back-up from a new super PAC formed by a former fundraiser. [LAT]
But, wait, Gingrich doesn't want your support! Or so he says in a letter to supporters: "With Ronald Reagan's eleventh commandment in mind, we will ask our supporters not to contribute to any so-called SuperPAC that runs negative ads against any other Republican contender and we will discourage ad hominem attacks on our fellow Republicans." [HuffPost]
Republicans are calling for Democrats to return campaign contributions from MF Global employees, but Republicans got MF Global money too. [Roll Call]
Crossroads GPS is set to drop $500,000 in ads on Sen. Ben Nelson as he mulls whether to run for reelection or retire. [NatJo]
Meanwhile, Crossroads is calling on Elizabeth Warren to reject any aid from the Democratic Senatorial Campaign Committee because it receives large contributions from Wall Street. Here are their demands (which are sadly not spelled out in letters cut out from magazines): "1. Return any and all funds she has received from the Wall Street-backed DSCC; 2. Refuse to accept any future DSCC contributions, coordinated expenditures or ads on her behalf; and 3. Immediately call on the DSCC to stop using her name for fundraising purposes."
CAMPAIGN VIDEOS
Help us populate our list of campaign videos. Send any notable TV, radio or web ads that you see to Fundrace. Send your submissions to paulblumenthal@huffingtonpost.com.
Committee: Republican National Committee
Candidate opposed: Barack Obama
Spot: "Obama-Corzine Was Wrong" -- Jon Corzine and his global fund MF Global are legal trouble over $1.2 billion in customer funds having gone missing. The RNC is using Corzine's long-time role as a big time Democrat to connect the Obama administration to the MF Global troubles. The video includes information about MF Global's missing funds and the campaign contributions provided by Corzine while using a lot of dialogue from speeches made by Vice President Joe Biden praising Corzine and saying that the administration went to Corzine for help in figuring out what to do about the economy when they came into office.
Link: [http://youtu.be/Quag9dp1Nn4]
Market: YouTube.
Buy: None. Just a web video.
Committee: Rick Perry for President
Candidate supported: Rick Perry
Spot: "Political Correctness" -- Rick Perry is tired of the political correctness in Washington. In this new TV ad Perry slams the revolving door and federal aid money that Perry says is going to "countries who oppose America." Interestingly, Perry also knocks politicians who are, "bankrupting Social Security." This comes despite Perry having previously called Social Security a "monstrous lie" and a "Ponzi scheme."
Link: [http://youtu.be/QzUIJVerqN4]
Market: Iowa.
Buy: Undisclosed.
Committee: Rick Perry for President
Candidate supported: Rick Perry
Spot: "Momentum" -- Building off of chatter that he might see a rise in the polls, Rick Perry cuts this web video to explain what's behind his momentum. The video includes a lot of footage from Saturday's debate in Iowa and the message that Perry is an "outsider." Perry also hits Mitt Romney and Newt Gingrich in the ad and states that he is only person who can go after Barack Obama in a debate, which seems to be a key qualification sought by GOP primary voters.
Link: [http://youtu.be/wW-ICj7Vvu0]
Market: YouTube.
Buy: None. Just a web video.
Committee: National Republican Campaign Committee
Candidate opposed: Rep. Nick Rahall
Spot: "Rahall Pipeline" -- The NRCC is running a series of ads targeting House Democrats during the payroll tax cut extension fight. These ads focus on the inclusion of an approval of the Keystone XL pipeline in the final payroll tax deal and call on five congressmen to support the pipeline. The ad touts the support of the Teamsters and the AFL-CIO for the pipeline.
Link: [http://youtu.be/4khtGsrsu-I]
Market: Web.
Buy: Undisclosed.
Committee: National Republican Campaign Committee
Candidate opposed: Rep. Betty Sutton
Spot: "Sutton Pipeline" -- The NRCC is running a series of ads targeting House Democrats during the payroll tax cut extension fight. These ads focus on the inclusion of an approval of the Keystone XL pipeline in the final payroll tax deal and call on five congressmen to support the pipeline. The ad touts the support of the Teamsters and the AFL-CIO for the pipeline.
Link: [http://youtu.be/loXf9yZmPFk]
Market: Web.
Buy: Undisclosed.
Committee: National Republican Campaign Committee
Candidate opposed: Rep. Jason Altmire
Spot: "Altmire Pipeline" -- The NRCC is running a series of ads targeting House Democrats during the payroll tax cut extension fight. These ads focus on the inclusion of an approval of the Keystone XL pipeline in the final payroll tax deal and call on five congressmen to support the pipeline. The ad touts the support of the Teamsters and the AFL-CIO for the pipeline.
Link: [http://youtu.be/_RGHhRU4P_g]
Market: Web.
Buy: Undisclosed.
Committee: National Republican Campaign Committee
Candidate opposed: Rep. Colin Peterson
Spot: "Peterson Pipeline" -- The NRCC is running a series of ads targeting House Democrats during the payroll tax cut extension fight. These ads focus on the inclusion of an approval of the Keystone XL pipeline in the final payroll tax deal and call on five congressmen to support the pipeline. The ad touts the support of the Teamsters and the AFL-CIO for the pipeline.
Link: [http://youtu.be/8SZoOhJL3D4]
Market: Web.
Buy: Undisclosed.
Committee: National Republican Campaign Committee
Candidate opposed: Rep. Mark Critz
Spot: "Critz Pipeline" -- The NRCC is running a series of ads targeting House Democrats during the payroll tax cut extension fight. These ads focus on the inclusion of an approval of the Keystone XL pipeline in the final payroll tax deal and call on five congressmen to support the pipeline. The ad touts the support of the Teamsters and the AFL-CIO for the pipeline.
Link: [http://youtu.be/yQYUlhlHWss]
Market: Web.
Buy: Undisclosed.
Committee: Democratic National Committee
Candidate opposed: Mitt Romney
Spot: "On Being Conservative..." -- Another in the WhichMitt series of DNC ads attacking Mitt Romney. This one uses footage of Romney calling himself both "moderate" and "progressive" as he ran for Massachusetts governor in 2002. The ad ends with the following text on the screen, "If you can't trust Mitt Romney to say what he stands for, you can't trust him to stand for you."
Link: [http://youtu.be/gzidpJyayKQ]
Market: YouTube.
Buy: None. Just a web video.
TRACKING INDEPENDENT SPENDING IN THE PRESIDENTIAL RACE:
These numbers represent spending by independent groups, like super PACs and non-profits, to support or oppose a particular candidate for the presidency in 2012. Fundrace will update this spending daily to help show which candidates are gaining from the proliferation of independent groups in this coming election.
Rick Perry (R), $1,472,681 to support, $0 to oppose.
Jon Huntsman (R), $1,455,473 to support, $0 to oppose.
Newt Gingrich (R), $0 to support, $826,718 to oppose.
Herman Cain (R), $462,217 to support, $0 to oppose.
Barack Obama (D), $0 to support, $359,006 to oppose.
Mitt Romney (R), $0 to support, $329,473 to oppose.
Gary Johnson (R), $518 to support, $0 to oppose.
*An $826,718 expenditure from the pro-Romney super PAC Restore Our Future was previously attributed as supporting Romney. That has since been changed.
RECENT INDEPENDENT EXPENDITURES:
Campaign to Defeat Barack Obama, $1,533 to oppose President Barack Obama.
RECENT POLITICAL ACTION COMMITTEE REGISTRATIONS:
Encore Capital Group, San Diego, Calif., Treasurer: Glen Freter.
Citizens for An Operational Government, Mount Pleasant, S.C., Treasurer: Christopher Drose.
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