With permission by Kevin Zeese.
The Republican Party is being replaced with secret donors and unlimited donations as concentrated corporate interests spend hundreds of millions in the Mid-term elections.
In the last week Democrats were gloating about how little money the Republican Party had in its campaign coffers. The Republican National Committee has just over $5 million in the bank for the final stretch of the 2010 midterm election campaign and is carrying over $2 million in debt.
These figures have Democrats jumping for joy, but their excitement is misplaced. The combination of Michael Steele and Citizens United is creating a paradigm shift in how elections are funded among Republicans. Rather than giving to the Republican Party, where Michael Steele controls the money, their name is made public and they are limited by regulation as to how much they can give, major donors have abandoned the RNC and are giving to 527 and 501(c)(4) organizations, which can also take money directly from corporations. This new approach to campaign finance will alter U.S. politics reducing the power of political parties and increasing the power of concentrated corporate wealth.