Super Super PAC Money
Critical Analysis
the 2022 midterm election set a new spending record, with over $9 billion being raised. This is significantly higher than the previous record of $7 billion, which was set in 2018. According to a recent analysis by the Washington Post, $1 billion of these funds can be attributed to the top 50 donors. According to the visual above, who was the biggest single individual political donor in the 2022 midterm election?
According to the visual above, how much did that individual spend on the 2022 midterm election?
George Soros has donated over $30 billion of his fortune to various causes and charities. He is the founder and chairman of two Super PACs (political action committees) named Democracy PAC and Democracy PAC II. According to the visual above, what party did Soros donate to in 2022?
Sorting this top 10 donor list by party, we can see that $168 million was raised for the Democrats, and $338 million for the Republicans. According to the visual above, of the 10 biggest individual political donors in the 2022 midterm election, how many gave to Republican causes?
Super PACs (independent expenditure only political committees) are committees that may receive unlimited contributions from individuals, corporations, labor unions and other PACs for the purpose of financing independent expenditures and other independent political activity. How much of the money spent by these 10 biggest donors went to PACs (political action committees)?
The Federal Election Commission (FEC) regulates federal campaign spending limits. In the 2021-2022 Election Cycle, under the Federal Election Campaign Act, 52 U.S.C. 30101-45, the limit for contributions from individuals was $2,900 per election in the 2021-2022 cycle. Primaries, generals, and runoffs are considered separate elections. Why do you think so many of these wealthy individuals give money to PACS and Super PACS and Funds instead of donating the maximum allowable amount directly to candidates?
Explain how super PAC spending impacts the American political process.
If you had billions of dollars, explain whether you would invest it in American elections.
Sam Bankman-Fried (SBF) gave over $39 million dollars in the 2022 election. Now he is locked up in his parents’ house awaiting trial (he could receive a sentence of over 100 years in jail!) Do you think the people that he contributed to should return their money to him or donate it to a good cause?
The Bipartisan Campaign Reform Act of 2002, commonly known as the McCain–Feingold Act or BCRA, is a United States federal law that amended the Federal Election Campaign Act of 1971, which regulates the financing of political campaigns.there were strict limits on election spending. In 2010, in Citizens United v. Federal Election Commission, A 5–4 majority of the Supreme Court ruled that corporations and other outside groups can spend unlimited money on elections. Explain how the Citizens United ruling impacts the data from the visual above.
Learning Extension
Read more of the Visual Capitalist report on the ten biggest 2022 donors, where they got their money, and where they spent it.
Action Extension
The Constitution could be amended to limit campaign contributions. What other steps could be used to limit the power of money in elections?