Corporations will compete to buy next American president
From the International Report delivered to the CPGB-ML’s central committee on 4 March.
The current US presidential race leading up to elections in November is set to be the most expensive that there has ever been, with campaign expenditure expected to reach $2-3bn.
Provided no public funding is accepted for campaigning purposes, there is no limit to what each candidate’s backers can spend in order to get their favoured candidate elected. Money is raised from the wealthy through the medium of a Political Action Committee (PAC) and, following a ruling of the Supreme Court last year, so long as there is no direct contact with the candidate being supported, there is no limit on how much money a given PAC (or ‘Superpac’) is permitted to raise and spend.