The Families Funding the 2016 Presidential Election

http://nyti.ms/1VL43zy

Pith of the pith:

As the income inequality has widened in America, the control of corporate families over electoral funding has increased. A majority of them are funding the Republican policies of reduced regulation, reduced taxation on income and capital gains.

The pith:

After the Citizens United judgement of US Supreme Court in 2010, the ease of corporate funding to electoral candidates (for presidential elections) has increased.

For 2016 Presidential Election, in the 1st round, around 158 families with their privately held companies, have donated around $180 million. These families are mostly involved in finance (hedge funds) and energy (shale and oil) businesses.

138 of these families have supported Republican candidates who support reduced regulation, reduction in income taxation and on capital gains and shrinking entitlement programs.

However, the sentiment of the American public is at variance. 2/3rd of Americans want taxation for million dollar income earners increased. Around 70% of people want increased medical and social security assistance.

Also, some families have supported Democrats who pursue restrictions on hedge funds and venture capitalists and progressive taxation.