Friday, April 22, 2016

HILLARY; CANDIDATE OF THE 1%


A Center for Responsive Politics analysis of the top donors to JFCs — which allow candidates, party committees, and PACs to band together and take one big check apiece from contributors — shows that liberal megadonors, led by those loyal to former Secretary of State Hillary Clinton, have given $12.3 million compared to conservatives’ $10.3 million.

Among the top 20 biggest donors to JFCs, just three have given predominantly to Republican committees. The biggest JFC donor so far? Tech billionaire Sean Parker, who’s shelled out more than $725,000, much of it to Clinton’s JFC.

JFCs allow star fundraisers to spread their wealth around the party.. The donors can’t get around individual contribution limits — but they can get creative.

The Hillary Victory Committee and Democratic Hope Fund, for instance, are using loopholes to transfer funds to the Democratic National Committee through state party affiliates, and they’re doing it with megadonor money Republicans haven’t yet been able to match. The listed beneficiaries of her JFC include her campaign committee, the DNC and 31 state party committees.

Unsurprisingly, the industries giving to the Hillary Victory Committee closely track with industry donors to her supportive super PACs. Securities and investment — Wall Street — has given the most to that committe, nearly $3.5 million. Wealthy individuals who list a foundation or nonprofit as their employer, who together make up part of the non-profit institutions industry, have given $1.6 million.

That makes Clinton’s JFC like the super PACs that support her: Clinton can claimpopular support for her campaign from law firms and the education industries, but a look at her big-money groups shows Wall Street and the wealthy dominate the giving.



While past presidential candidates waited until they received the nomination to join joint fundraising committees, the Hillary Victory Committee has already distributed over $44 million to her campaign and other Democratic candidates.