Corporate Nation: The 1% Rule is That the 1% Rule
Before 2010, federal campaign law and Federal Election Commission regulations limited to $5,000 per year the amount an individual could give to a PAC making independent expenditures in federal elections. This individual contribution limit that was declared unconstitutional by the District of Columbia Court of Appeals in a case based on the Supreme Court’s grotesque decision at the start of 2010, Citizens United vs. Federal Election Commission.
Now, the limits are gone. And this comes precisely at a time when an almost unprecedented share of the nation’s income and wealth is accumulating at the top.
Never before in the history of our Republic have so few spent so much to influence the votes of so many. Robert Reich
