The Reasoned Review

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Buying the Farm

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Yglesias makes some good points on the danger of corporate “campaign donations”:

Something worth mentioning in the context of the Citizens United decision, though not directly tied to the issue at hand there, is that a group doesn’t actually need to spend vast sums of money to have a decisive influence on politics. It just needs to be able to credibly threaten to spend said sums. Bank of America, for example, dedicates $2.3 billion to marketing in 2008 so it’s clear that they’ve got the budget to mount a $100 million series of scathing attacks on a Senator who pisses them off and basically laugh that off (and note that in 2004 total spending on Senate campaigns was just $400 million). And if you can have it be the case that just one Senator goes down to defeat for having pissed off BofA then everyone else will learn the lesson and avoid pissing them off in the future. You don’t need to actually sustain that volume of campaign spending.

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Written by pavanvan

January 23, 2010 at 9:48 pm

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