Spent Money
Money suffuses our political system. Candidates must spend huge sums to get elected, and once they do, well-funded interests spend huge sums to influence how they vote. Campaign finance laws are being struck down, and money is rushing into outside groups that don’t have to disclose their donors. Some studies have found companies can get as much as on their lobbying dollars, while a recent poll from the Global Strategy Group found that of Americans wants to reduce the role of money in politics. Here’s what’s going on — in charts, of course.The big picture 1) More money is being spent on US politics than ever beforeThis chart drives home the most salient fact about money in politics: there’s more and more of it.
This is true for both elections and lobbying. According to the, which compiled many of the statistics that made this feature possible, total federal election spending in 2012 was over $6.2 billion — double the $3 billion spent on the intensely competitive 2000 campaign. Federal lobbying spending has also doubled in the same period. And these are lowball estimates. Political ads airing months before an election that don’t expressly advocate a certain vote, and lobbying firms’ spending on PR, consulting, and “grassroots” organization, aren’t even included in these totals.Donors: Who’s spending? 2) 0.26% of the population gives 68% of the moneyVery few people account for the vast majority of political donations. This infographic from Good Magazine shows that in 2010, only 0.26 percent of the US population — about 800,000 people overall — donated more than $200 to congressional campaigns.
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These donors provided more than two-thirds of all donations to those campaigns. So politicians end up reliant on a very tiny group of Americans to fund their campaigns — and that gives those Americans a lot of power over the political system.3) Small donors don’t add up to very muchThe Internet age allows candidates to raise significant sums from small donors. Yet, for presidential candidates from both major parties, larger contributions remain more important. In 2012, President Obama raised only 28% of his campaign funds from donors who gave less than $200 overall, and Romney raised merely 12% from those donors. Both candidates got more of their money from donors giving at least $1,000 — in Romney’s case, much more. Obama got 39% of his funds from those donors, and Romney got 66%.4) The most active political givers are very polarizedThe biggest political givers tend to be party loyalists. The Sunlight Foundation examined donations from the top 1,000 overall givers to federal campaigns and PACs in 2012, and found that 744 of them gave their money to only Democrats or only Republicans.
Government spending is $4.829 trillion. That's the federal budget for the fiscal year 2021 covering Oct. 1, 2020, to Sept. It's 20.7% of gross domestic product according to the Office of Management and Budget Report for FY 2021.
Of those who did give to both parties, almost none were about equally split — for the vast majority a preference was clear. We can also see in the chart that, of these top donors, most of the largest donors favored Republicans (658 gave more to Republicans, 360 to Democrats, and 2 were even).5) The Republican mega-donors.
This chart provides a closer look at the top (disclosed) Republican spenders in 2012, how much they spent, and how they made their wealth. While contributions from various business sectors are important for a party building its fundraising base, newly-loosened campaign finance laws have led individual, idiosyncratic donors to provide more money than ever before. For instance, though the casino industry as a whole isn’t a major source of Republican funds, one particular casino billionaire — Sheldon Adelson — was a massively important source of money for GOP causes in 2012, spending over $92 million overall. (Unfortunately for the GOP, some of that was spent in support of Newt Gingrich in the presidential primary.)6) The Democratic mega-donorsAnd here’s a look at the Democratic mega-donors for the 2012 cycle, how much they gave, and how they made their wealth. Several, including top spender Fred Eychaner and Dreamworks CEO Jeffrey Katzenberg, are involved in the media industry.
George Soros and James Simons are among the financiers who still support the Democrats. Michael Bloomberg, the independent former mayor of New York City, is categorized as a liberal because most of his 2012 spending went to support Democratic candidates.
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A few are heirs — Amy Goldman is heir to a real estate fortune, and Jon Stryker is heir to a medical supply company.