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September 30, 2014

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POLITICS:

Adelson pocketbook bolstering super PAC backed by Cantor

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Christopher DeVargas

Las Vegas Sands CEO and Chairman Sheldon Adelson makes a few remarks after receiving the Hospitality Industry Leader of the Year award at the eighth-annual Vallen Dinner of Distinction, April 26, 2012.

GOP megadonor Sheldon Adelson and his wife, Miriam, poured $5 million into a super PAC backed by House Majority Leader Eric Cantor, according to reports released late Sunday.

The cash influx marks a major boost for the YG Action Fund, which was started last year by former Cantor aides to assist House Republican candidates. The super PAC reported raising $5.3 million between April and June of this year, compared with the meager $55,000 it pulled in during the first quarter.

The Adelsons — who have funneled millions of dollars into super PACs backing GOP presidential candidates — have helped jump-start congressionally focused super PACs in recent months. In February, the couple gave a combined $5 million into the Congressional Leadership Fund, a separate group backed by Cantor, Speaker John Boehner and other top House Republicans.

The YG Action Fund spent nearly $460,000 in the second quarter on ads to boost North Carolina congressional candidate Richard Hudson, who will face off in a primary next week against Club for Growth-backed candidate Scott Keadle, according to the campaign finance report.

Thanks in large part to the Adelsons, the Cantor-backed group kicked off July with $4.7 million in the bank to buoy GOP candidates.

The Congressional Leadership Fund landed another big donor last quarter when Texas real estate magnate Bob Perry gave $1 million to the group.

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  1. I just read that eighty percent of the contributions to Tea/Republican Party reelection efforts going on right now centers around...seventeen people. This averages to about .000036 percent of contributors. Not sure if I got enough zeros there, but you can easily see it is WAY below one percent.

    This is madness, people.

    This Citizens United ruling is allowing the rich people, if the voters out here don't wake up, to buy an election and put people in power.

    Right now, Adelson is being investigated for possible violations of the Foreign Corruption Practices Act (FCPA).

    But, because of the Citizens United ruling, he is BUYING our Government, hoping to put another Government in place, with another Justice Department in there, all in order so they will abandon the investigation against him.

    We gotta get money out of our politics. But that's not likely gonna happen right now.

    So, it's WAY more important to make sure people vote. And they vote smart.

    I do not want the rich/filthy rich to have any more undue influence on our form of Government. Even more than they have now.

    That's why I'm voting every Tea/Republican out of power that run interference for them.

    Because we keep this up, it's gonna get way beyond un-American. The middle class will be wiped out. Gone, baby, gone. Just rich...and everybody else...mostly poor/very poor. The rich are dismantling this country. There used to be thing called the American Dream. That's gone right now. The rich took it away. It's now an American Pipedream.

    Time to smack the rich/filthy rich back down to reality. They exist due to democracy. Not the other way around.

    Obama/Biden 2012! And a Democrat majority in the next Congress!