LOD: Super PACs & Über-Fat Cats

Here’s another report about the tiny number of über-fat cats bankrolling the Super PACs. The Washington Post reports: “Just 47 people account for more than half (57.1 percent) of the $230 million raised by super PACs from individual donors, according to the study by U.S. Public Interest Research Group (U.S. PIRG) and Demos, two liberal research and advocacy organizations. Just over 1,000 donors giving $10,000 or more were responsible for 94 percent of the money raised.” The libertarian Cato Institute would be happy – let people do what they want with their money, no regulation needed. That may be a fine theory for an ivory tower elitist, but it doesn’t work too well in real life, for hamburgers or elections. Fueled by the greedy few, we’re now on our way to experience a record-shattering $5.8 billion federal election cycle, says the Center for Responsive Politics. You can hear the Cato Institute closer to home, at Quail Ridge Books in Raleigh. John Samples from Cato will join Press Millen, a more level-header soul and local attorney, in a discussion of the meaning and impact of the Citizens United decision as part of the bookstore’s town meeting series. The free event, no reservation needed, is August 13 at 7:30 PM.