The Party of Big Business

Written by Sam on July 5th, 2007

We have heard time and time again that the Republicans are for big business and the Democrats are for the little guy, but that old addage has been antiquated for about 30 years now. An article by Dan Gernstein from Politico reflects that even more.

According to an analysis of the first-quarter presidential campaign fundraising reports done by the Center for Responsive Politics, three-quarters of the $1.1 million that hedge fund managers contributed went to Democratic candidate.

75% of big Wall Street tycoons throwing their money at Democrats is quite an astonishing number for a party that insists their opponents, not they, are the ones for the big fat cats.

The honest reality is that both parties pluck at the golden goose and neither has a monopoly on piggish greed. The Democrats are just better than the Republicans at fooling their base into believing they actually care about the poor and down trodden. What will be more interesting to see is how the Democratic Presidential candidates will fall on the proposed tax increase on hedge fund and private equity managers’ profits. Surely, the D’s want their gravy train to keep rolling in, but if they oppose the legislation, how do they face their constituents?

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