The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Democrats Are the Party of the Rich

Posted by iusbvision on July 23, 2008

Vision readers may remember the post linked below that shows Obama’s biggest contributors. Money is more important to Obama than ever since he broke his promise to use the public financing system for his campaign.

https://iusbvision.wordpress.com/2008/06/22/factcheckorg-obama-is-lying-about-mccains-money-and-his-own/

Democrats, contrary to their claim that Republicans are the party of the rich, have been far more dependent on money from PAC’s, other special interests and big money interests than Republicans have.

David Brooks had a nice Op-Ed where he goes over these facts in an eloquent way.

Obama’s Money Class

As in other recent campaigns, lawyers account for the biggest chunk of Democratic donations. They have donated about $18 million to Obama, compared with about $5 million to John McCain, according to data released on June 2 and available at OpenSecrets.org.

People who work at securities and investment companies have given Obama about $8 million, compared with $4.5 for McCain. People who work in communications and electronics have given Obama about $10 million, compared with $2 million for McCain. Professors and other people who work in education have given Obama roughly $7 million, compared with $700,000 for McCain.

Real estate professionals have given Obama $5 million, compared with $4 million for McCain. Medical professionals have given Obama $7 million, compared with $3 million for McCain. Commercial bankers have given Obama $1.6 million, compared with $1.2 million for McCain. Hedge fund and private equity managers have given Obama about $1.6 million, compared with $850,000 for McCain.

When you break it out by individual companies, you find that employees of Goldman Sachs gave more to Obama than workers of any other employer. The Goldman Sachs geniuses are followed by employees of the University of California, UBS, JPMorgan Chase, Citigroup, National Amusements, Lehman Brothers, Harvard and Google. At many of these workplaces, Obama has a three- or four-to-one fund-raising advantage over McCain.

Over the past few years, people from Goldman Sachs have assumed control over large parts of the federal government. Over the next few they might just take over the whole darn thing.

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