New York Times: Drowning in Campaign Cash

Written by admin on October 31st, 2010

Te New York Times editorializes today on the flood of campaign cash.

New York Times

Combining both traditional and outside money, Republicans have slightly outraised Democrats, $1.64 billion to $1.59 billion, but there is more to be tallied.

While large secret donations have been legalized, it is not clear that the 501(c) groups spending the money on barrages of attack ads are playing by the last, threadbare rules. The tax code requires that these groups not be “primarily engaged” in political advocacy, but neither the Internal Revenue Service nor the Federal Election Commission has made any apparent effort to investigate what other purpose they might have. Some groups have suggested they would begin nonpolitical activities — after the election.

What is clear is that the new world of unlimited spending, both open and secret, confers huge benefits on wealthy individuals, corporations and unions. In a striking example, reported by ABC News last week, Terry Forcht, a prominent Kentucky banker and nursing home executive, helped pay for a series of attack ads against Attorney General Jack Conway, the Democratic Senate candidate. Mr. Conway is prosecuting one of Mr. Forcht’s nursing homes for allegedly covering up sexual abuse.

Mr. Forcht has directly raised at least $21,000 for Mr. Conway’s Republican opponent, Rand Paul. He serves as the banker for American Crossroads, the shadowy group of nonprofits organized by Karl Rove that has spent nearly $30 million to defeat Democrats and more than $1 million to defeat Mr. Conway.

This year, of course, is just batting practice for 2012

 

Leave a Comment