The Richest 0.01 Percent of Americans Gave 42 Percent of Political Donations in 2012
Forget the top one percent, the top 0.01 percent of Americans gave nearly 42 percent of all political donation dollars in the 2012 election cycle. Just over 30,000 individuals contributed nearly half of all money. It is no coincidence that this proportion has increased steadily as economic inequality has increased. In 1990 when I was born, the figure was just under 13 percent. If we expanded the scope to the full one percent, you can be damn sure they gave the overwhelming majority of dollars in recent years.
Candidates devote 80 percent of their time to begging rich people for money.
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