Liberal Billionaires Spending Big Money on 2013 Campaigns
Disappointing for campaign finance reform advocates
Democrats and liberal interest groups spent much of 2012 bemoaning an avalanche of outside spending from billionaires on the right, warning that ideological tycoons like the Koch brothers and casino magnate Sheldon Adelson could threaten the legitimacy of the American electoral system.
What a difference a year makes.
In the off-year campaigns of 2013, liberal and Democratic interests have enjoyed a decisive advantage in the billionaire spending bracket. Indeed, groups tied to just three liberal-leaning billionaires – New York City Mayor Michael Bloomberg, California investor Tom Steyer and Facebook founder Mark Zuckerberg – have spent well over $25 million this year pushing progressive candidates and causes.