What industry is the biggest political contributor? I assumed oil, but I came across an old story that claimed tobacco might be. Anyone have anything definitive?
It appears to be finance. Bush has MBNA, Price Cooper and Merril Lynch and Kerry has FleetBoston and Citigroup. At least that’s the way each corporation has thrown the bulk of their money, but I’d not be surprised if a closer examination showed all of them hedging their bets.
This article is a bit out of date, suggesting in February that the Democrats’ main supporters were trial lawyers and 7 of 10 of Bush’s were financial services corps. But this was before Kerry came out on top in the primaries; since then I think financial services are the top contributors to the Kerry camp as well. They hate to waste their investm- er, um… contributions to either party until a front runner emerges.
I’d suggest exploring the site (Center for Public Integrity… which originated years ago as a Nader spin-off group!) for more up to date figures.
Ain’t democracy beautiful? :rolleyes:
I a huge contributor to the democratic party. There are now almost 1 million lawyers in he USA, and each probably sees the wisdom of investing in political candidates.
Of course, that is why medical bills are soaring out of sight, and the probate court system will NEVER be reformed.
I understand that individuals cannot directly contribute more than $1000 to any given candidate…can other members of a law firm (secretaries, paralegals) contribute as well?
All individuals can contribute up to $2,000 per year (I think) to any one candidate. There is no prohibition on employees of law firms donating. There are no limits on contributions to 527 organizations.
ralph124c is correct–lawyers are the biggest contributors in the current election cycle.
This is a great website that gives all kinds of information about the last several election cycles. Bush’s top “industries” are retired citizens (22M), lawyers (11M), real estate (10M), and securities/investment (8M). Oil comes in 14th with 3 million.
Kerry’s top “industries” are lawyers (20M), retired citizens (15M), educators (7M) and miscellaneous business (7M). Oil’s not on his list.
Lawyers are way out in front as the top contributors since 1990–$152,000,000.
That is only partly true. Certainly lawyers are a part of the problem but certainly not all of it nor are the “remedies” as simple as they may seem on the face of it.
Here are two Great Debates links that get into it if you are interested…
Why not limit attorney fees?
Unresolved: Capping jury awards for medical malpractice
Let’s not forget lobbyists. In addition to money, congressfolk are persuaded by lobbyists (naturally, a lobbyist from a contributor has more clout.) The drug industry has nearly one lobbyist for each member of the House and Senate.
PAC money does dwarf individual contributions. The personal campaign limit is $2000 which is easily (and legally) finagled into $4000 per married couple regardless if the second spouse has any income stream.
I should also point out that my post referred to money to the Bush and Kerry campaigns directly, not the RNC and DNC and not these 527s… of whom are doing what is obviously campaign spending even if we account for it differently. Although I expect the financial industry comes out on top in those too.