Super PACs and Mega-Donors Dominating/Ruining this Election

“You didn’t build this!” Nope, the Super PACs did

 

by Paul Blumenthal, posted on www.huffingtonpost.com, August 22, 2012

WASHINGTON — The Republican presidential campaign of Mitt Romney and Paul Ryan got another boost from big donors in July. Republican super PACs, particularly the pro-Mitt Romney Restore Our Future and the Karl Rove-founded American Crossroads, both of which are spending big to help the Romney-Ryan ticket, continued to dominate in fundraising after raising $19.4 million in July, compared to $9.73 million raised by their Democratic counterparts.

After pulling in nearly $30 million in July, super PACs have now raised more than $300 million for the 2012 election. Mega-donors giving $500,000 or more to these unlimited money groups remain the biggest source of funds, accounting for 68 percent of all contributions.

Republicans rule among these mega-donors. In total, mega-donors have now given $229.9 million to super PACs out of a total of $337.8 million contributed through July. Of that, $166.9 million came from just 79 Republican mega-donors. Democratic mega-donors, of which there are 42, have given $57.2 million. Another three donors have given $5.7 million to nonpartisan super PACs.

These donations have helped the two top GOP super PACs — Restore Our Future and American Crossroads — spend in excess of $18 million to help the Romney-Ryan ticket in July and August…

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