In race for campaign funds from billionaires, Romney outpaces Obama

bbarrick8383 · #1 Dec 16, '11, 8:51 pm

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The Republican presidential primary contest isn’t over, but in the race to line up the richest donors, it’s Mitt Romney vs. President Obama.

Romney has drawn the most support from billionaires, with at least 42 donating to his campaign. Obama is not far behind, with at least 30 billionaire supporters. Rick Perry and Jon Huntsman Jr. follow with 20 and 12, respectively, according to donor rolls and the current Forbes magazine list of 412 American billionaires.

chuckfrmvalyfrg · #2 Dec 16, '11, 10:29 pm

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Originally Posted by bbarrick8383

This is interesting , but without knowing how much these donors actually donated to each candidate , I don;t know how valuable it is .
Foe example , the 30 donors may have donated more to their candidate than the 42 donated to their candidate , in total .

bbarrick8383 · #3 Dec 16, '11, 10:58 pm

Oops, forgot to post the link:

http://www.washingtonpost.com/politi...sXO_story.html

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Although donors are limited to giving no more than $5,000 directly to a campaign, new rules allow them to give to “super PACs” that run independent ads supporting the candidates. Donations to super PACs are not limited, so billionaires can donate as much as they want. And, given the changes in campaign laws, it is likely that one of those donors will top the record $24 million that hedge-fund founder George Soros spent in 2004 to support Kerry.

Quote:

Obama had a large head start, having amassed $157 million by the end of September for his campaign and the Democratic Party, more than the GOP candidates combined. But the Republicans could tip the balance going forward, given widespread disenchantment with the president’s policies — especially among the wealthy.

Nec5 · #4 Dec 16, '11, 11:25 pm

If you had a moral and well informed populace, all the money in the world wouldn't be able to swing these elections. But alas...

**Ridgerunner** · #5 Dec 17, '11, 6:48 am

Well, at least it's good to know that not all billionaires are Soroses, Buffetts and Gateses those hypocrites who now want to kick down the ladders by which they ascended.

smndtupidisaftr · #6 Dec 17, '11, 10:38 am

If big businesses like capitalism so much, then why aren't they donating to the guy who wants to get rid of all of the regulations?

Darryl1958 · #7 Dec 17, '11, 1:10 pm

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Originally Posted by smndtupidisaftr

If big businesses like capitalism so much, then why aren't they donating to the guy who wants to get rid of all of the regulations?

I think Riderunner touched on that. Kicking down ladders, or making regulations that make it hard for the next generation of capitalists to climb to the top, is the best way for those who have already made it to the top to keep their competitors at bay.

It is easier to do this, when you have an inside track to the law makers, than to actually make your products better and more appealing.

Laissez faire capitalism does not exist anymore. What we have instead is a relationship between big government and big business collaborating against the middle classes.