This piece was prepared in collaboration with Ethan Phelps-Goodman. In the last two decades, finance, insurance, and real estate have... View Article
Continue readingHow House Operating Budget Cuts are Paving the Way for More Special Interest Influence
When the House returns to work today, it will be a slightly leaner, slightly less technologically cutting-edge body than it... View Article
Continue readingAs senator, Santorum was obsessed with abortion
The United States Senate deals with a wide range of issues, both foreign and domestic, but the ones that preoccupied... View Article
Continue readingThe Political One Percent of the One Percent
This piece was prepared in collaboration with Ethan Phelps-Goodman. If you think wealth is concentrated in the United States, just wait till you look at the data on campaign spending. In the 2010 election cycle, 26,783 individuals each contributed more than $10,000 to federal political campaigns. Combined, these donors spent $774 million. That's 24.3% of the total from individuals to politicians, parties, PACs, and independent expenditure groups. Together, they would fill only two-thirds of the 41,222 seats at Nationals Park the baseball field two miles from the U.S. Capitol. When it comes to politics, they are The One Percent of the One Percent. A Sunlight Foundation examination of data from the Federal Election Commission and the Center for Responsive Politics reveals a growing dependence of candidates and political parties on the One Percent of the One Percent, resulting in a political system that could be disproportionately influenced by donors in a handful of wealthy enclaves. Our examination also shows that some of the heaviest hitters in the 2010 cycle were ideological givers, suggesting that the influence of the One Percent of the One Percent on federal elections may be one of the obstacles to compromise in Washington.
Continue readingSix Banks that Benefited Most from Fed’s Sweetheart Lending Were Big Political Players
On Sunday, Bloomberg News reported on an estimated $13 billion worth of income that banks gained by taking advantage of... View Article
Continue readingCompanies that lobby more on taxes pay less in taxes
Earlier this year, we learned that General Electric paid no federal income taxes. One reason, the New York Times reported,... View Article
Continue readingHealthy Lobbying of the Super Committee
The healthcare industry is dominating lobbying activity before the Super Committee, according to third quarter lobbying reports. Almost 30 percent... View Article
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