May 31, 2012

Koch Network Alone To Spend More To Defeat Obama In 2012 Than McCain Raised In All Of 2008

Screen shot from a video catching Senator Scott Brown (R-MA) asking David Koch for money.
We’ve warned before that 2012 will be the greatest election bought and sold. Now, Politico is reporting that outside groups are preparing to spend upwards of $1 billion this year to defeat President Obama and elect more big business-friendly lawmakers to Congress.

To put these numbers in perspective, the Koch network alone — the political machine headed by plutocrats David and Charles Koch and funded by other billionaires — plans to spend more money this year than every dollar raised by John McCain’s campaign in 2008:

Republican super PACs and other outside groups shaped by a loose network of prominent conservatives – including Karl Rove, the Koch brothers and Tom Donohue of the U.S. Chamber of Commerce – plan to spend roughly $1 billion on November’s elections for the White House and control of Congress, according to officials familiar with the groups’ internal operations.

That total includes previously undisclosed plans for newly aggressive spending by the Koch brothers, who are steering funding to build sophisticated, county-by-county operations in key states. POLITICO has learned that Koch-related organizations plan to spend about $400 million ahead of the 2012 elections – twice what they had been expected to commit.

Just the spending linked to the Koch network is more than the $370 million that John McCain raised for his entire presidential campaign four years ago. And the $1 billion total surpasses the $750 million that Barack Obama, one of the most prolific fundraisers ever, collected for his 2008 campaign.

Much of the money will be difficult to trace. The Federal Elections Commission only requires spending reports for ads aired within 60 days of the general election or 30 days of a primary. Big business groups have grown adept at exploiting loopholes so their spending is difficult to trace. For instance, the American Chemistry Council is currently engaged in a multimillion dollar ad campaign — yet not a dime of it appears on the FEC website. Moreover, groups like the Koch network use various foundations and nonprofit entities to avoid disclosing how much they spend, and where the money comes from. Republic Report was the first to discover $55 million in secret attack efforts coordinated by the Koch machine in 2010 — but our discovery was on May 19, 2012, two years after the election, and questions still linger relating to who helped the Koch brothers raise the cash.

  • Preston Law

    One word: disgusting.

  • Bill49259

    Koch bothers are trying to buy America, They are truely the faces of evil.

    • Trying? By the looks of it, they’re succeeding.

  • It’s about time to seriously consider the possibility of these two being involved in a fatal “accident”

    • hahaha!

      i’d be surprised if themselves haven’t already thought of that

  • CatKinNY

    Will this blatant attempt to purchase elections awaken a sense of unease, or even a conscience, in the Republican electorate? Or will most of them simply think the ends justify the means?

    • DoUreallyNo

      I am guessing it is uneasy for a lot of people but it has never stopped the Democrat electorate with George Soros so doubtful it will have much of an impact on the other side as well.

    • CatKinNY

      The difference between Soros and all the billionaires who contribute to the GOP is that Soros actually wants his own taxes raised and wants more government control over his own industry. Honestly, do you not see that that is a qualitatively different activity? Plus, he’s ONE guy. How many billionaires are lining up to demand that their already ridiculously good positions be made even better? Honest to God, I am baffled by the legions of the non rich who vote to cut taxes for the wealthiest while screaming about the defecit.

      • Soros promotes regulations that would limit competition for his business, making sure he becomes richer.

        So what’s the difference?

        Most of Wall Street is liberal, it’s in Manhattan, which is why Obama have gotten so much more money from Wall Street in this and previous election.

        I’m baffled by people who wants to raise everyone taxes and are surprised to find out it makes them poorer and the economy worse.

        • CatKinNY

          Sorry, Victor, but Wall Street has stampeded to Romney’s side, because they want Dodd Frank repealed and the Consumer Protection Bureau closed, and also because Obama once referred to them as ‘fat cat bankers’ – it huwt dew wittle feewings. Glad you woke up from your coma, but you should do a lot more catching up before you post, or vote.

          • You’re a fool. At least Upton Sinclair understood what regulatory takeover looks like.

            The Dodd-Frank bill says “this will be referred to the committee” like a hundred times. I know who will be on this committee. It’s going to be people from Goldman Sachs.

            If they really wanted Obama gone, then why are they funding his campaign about three or four times more than Romney’s?

            I think I have some idea how this works. I work in finance. I know lobbyists here in Sweden. People like you make for good cattle to push regulations that help us. I don’t think it’s right but that’s the way the world works. I will however do my part in explaining it to people.

          • CatKinNY

            Here in the States, there has been a great deal of news regarding the fact that WS is funding Romney on a least a three to four times ratio over what they are giving Obama, and the big fundraisers in NY are much more frequently for Romney than for Obama. If you know more from your perch in Sweden, please document it, or I’ll believe what I see with my own eyes, thanks, than take your word for what’s happening here.

          • Well if you watch the facts, the fact is that Obama is getting more money from WS than Romney is. So you’re just making shit up.

            Yes finance is funding Romney more, last election though Obama got the bulk of their support.

            The point is that you have no idea what the Dodd-Frank bill says and the consequences of it. You’re probably not even interested or aware of that there’s such a thing as regulatory takeover. Well it would look like that bill. Just “more” regulation is hardly a solution to the problem of corporatism, especially since regulations increased for the past ten years.

          • CatKinNY

            Look, you may well know more about finance than I do, but you have just displayed total ignorance of American politics. The behavior of a donor base four years ago is illustrative of nothing in the next election cycle. Four years ago, they backed Obama. WS likes to back winners, and Obama was clearly going to beat McCain/Palin. The country was sick of Rethuglicans, and Caribou Barbie was clearly unqualified to be governor of Alaska, never mind anything else; many Wall Street people like to consider themselves social liberals, except for the part involving paying your fucking taxes to support children, the old, the disabled, etc., so the Democratic ticket got their backing. Then, while bailing their sorry asses out after a spree of reckless gambling and requiring no clawback (to the total dismay of most of the country – what do you think sparked the formation of Occupy WS, and motivates some of the foot soldiers in the Tea Party?), in a meeting with them, he had the temerity to state “I’m all that stands between you and the pitchforks”, and many of them got their panties in a serious twist, where they have remained ever since, and are backing Romney. You tell me, WS expert, are they a bunch of thin skinned grade school girls, or are they afraid of a second Obama administration? Those are your damned choices; that they are supporting Obama is not on offer, because they are not.

            Those are the facts. I’m not making shit up. You lack the facts and, like the old lady with mild dementia who knows she doesn’t have all her ducks in a row, have engaged in confabulation, and have gotten caught making shit up that makes sense to you but is inaccurate. I know Dodd Frank is inadequate. Had I been Obama, I’d have insisted on the reinstatement of Glass – Steagall and broken up the TBTF institutions (and gotten rid of the Commodities Futures Modernization Act of 2000). I am well aware of what the financialisation of the American economy has done, and how disasterous it’s been for most of us, of the corporate capture of most levers of government and where that leaves me. Is Obama all I’d want? Hell
            no. Would Romney be an unmitigated disaster for everyone who isn’t rich? You betcha. As a voter, I get to decide between horseshit and cowshit; I’ll go with horseshit, thanks. On the bright side, if Romney wins and enacts his tax and social safety net plans, the white working class voters on whom the GOP depends will take up their arms and revolt – the Army War College has already gamed this scenario. The American people need to wrest the attention of our political class away from the corporate interests who have captured it.

          • Well the Tea Party started with the campaign for liberty but had a real push with the financial bailouts and the Obamacare.

            I think they want this amateur out of office because the economy sucks.

            You know it’s inadequate? You don’t even understood what I said.

            Glass Steagall had nothing to do with the financial crisis whatsoever. It had been irrelevant since the mid 70s since all mergers got waivers, and banks didn’t fail because they did investment banking, they failed because they did regular bad banking loans. Blaming it on the repeal of GS is just some kind of urban myth that keeps on living because people throw it around without knowing what the fuck they’re talking about.

            Look, your entire comment can really be summed up by your usage of the term “Rethuglican”. Your lost in the partisan jungle, there’s no point in talking policy with you from there on.

            You can’t wrest it away from the corporations. It’s an impossible task. All you can do is shrink it.

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  • D

    I keep thinking those two guys must be spelling their name wrong…

  • DoUreallyNo

    Question: Do all you Koch haters also have George Soros? Did you know his main entity has spent over $150M a year since 1979 (that is over $5 billion) for political reasons? Are you up in arms about this as well?

    • DoUreallyNo


    • CatKinNY

      Soros wants his own taxes raised, and his own industry to have more government oversight, so no, I’m not up in arms about him. Why are you supportive of the richest people on earth demanding more tax cuts?

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  • armin ecco

    Obama’s methodical, well conceived, and energetic ground work defeated all the money poured in to elect the candidate supported by the criminal Koch brothers. Republican party again proved to be the party of the angry white old men who try to turn back the political clock

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