Tuesday, April 28, 2015

Charting the American Oligarchy – How 0.01% of the Population Contributes 42% of All Campaign Cash

There are roughly 250 million adults in America, so 0.01% of that is about 25,000 people. I would argue even this number is too high. In fact, I want to find out information about what percentage of political contributions come from the 0.001%. That number will probably get us much closer to the root of the problem. It is far more possible and efficient to closely monitor 2,500 people as opposed to 25,000. After all, 25,000 people don’t regularly call Congress and get the specific legislation they want passed. 25,000 people don’t have a direct line to the Federal Reserve, but people like Jamie Dimon do, and it is these people we must watch like hawks. If we can zero in on the 2,500 wealthiest people, we can also efficiently pick out the worst offenders, as opposed to just demonizing people based on wealth, even within the 0.001%. You can’t easily separate the good from the bad with a sample of 25,000 people, but you can with 2,500 (and that smaller group has much more pull anyway).

Far fewer people are calling the shots in America than you could ever imagine, and we must zero in with laser like precision on them, as opposed to alienating 3.2 million people.

http://www.washingtonsblog.com/2015/04/charting-the-american-oligarchy-how-0-01-of-the-population-contributes-42-of-all-campaign-cash.html

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