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William McKinley’s political fixer, Mark Hanna, famously said, “There are two things that are important in politics. Of course, money has always been part of American politics. And as the richest have pulled away from the rest of America, the policies they want-extremely low tax rates on the wealthy at a time of record deficits, rampant underinvestment in our future, special treatment for corporations that are imposing major environmental costs and financial risks on our society-are increasingly at odds with the policies the country desperately needs. Money doesn’t just give big spenders the chance to express a view or support a candidate it gives them leverage to reshape the American economy in their favor. But far more so than small-scale donors, the biggest spenders are investing in favorable policy outcomes. They also stand in the way of an economy that works for the middle class.Īfter all, why do corporations and the super-rich pour money into campaigns and lobbying? Sometimes political convictions are at play. Runaway campaign spending and lobbying don’t just stand in the way of a fair political system.
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If war is politics by other means, political spending is economic war by other means.