In January 2010 the Supreme Court over turned a federal law that barred corporations from participating in elections. In the case Citizens United vs. the Federal Election Commission, the Court lifted the ban against corporations. Now their pockets run deeper into American elections and it follow that a major aspect of the presidential campaign is the role corporations will play in next year’s election.
Rick Perry is currently the $11 million dollar man for the oil and gas industry. That sum trumps any amount received by other Republican presidential candidates. Since his 1998 campaign to replace President George Bush, Perry has raked in $117,091,642 dollars. Perry also operates the “Texas Enterprise Fund”, which is set up to “attract new jobs and investment to the state”. However, it has been riddled with a pay-to-play history as many of the benefactors of the fund have been large campaign contributors to Perry’s campaign.
Mitt Romney seems to have found a home on Wall Street as the nation’s finance industry has doubled down on the former Massachusetts Governor. A huge critic of the financial reforms passed by Obama, Romney trumps other Republicans in the amount of dollars received from groups such as Goldman Sachs, Morgan Stanley and Bank of America.
Standing opposite the big money interest represented by the likes of Perry and Romney is Herman Cain. His contributors are in the under $100 range. Yet, Cain has raised over $2.48 million dollars.
With a message of ending U.S. involvement in foreign wars, Ron Paul has received more money than any other candidate from military personnel.
Michelle Bachmann was the first candidate to receive money from the billionaire Koch brothers. Koch Industries is an energy conglomerate and the second largest private company in the United States.
Republicans and Democrats both have cozy relationships with business; but most would argue that due to the frequent posturing of Republicans to “deregulate” and “eliminate red tape” requirements on business Republicans view their relationships with corporations far more important to the success of their campaigns than do Democrats.
One thing for certain is that whoever receives the Republican nomination will undoubtedly benefit from hundreds of millions of dollars; and that is hundreds of millions of dollars worth of campaign funds Barack Obama and his team will have to fend off.