Obama’s Money Class

New York Times ^ | 7/1/08 | David Brooks

[MartinaMisc]

Barack Obama sells the Democratic Party short. He talks about his fund-raising success as if his donors were part of a spontaneous movement of small-money enthusiasts who cohered around himself. In fact, Democrats have spent years building their donor network. Obama’s fund-raising base is bigger than John Kerry’s, Howard Dean’s and Al Gore’s, but it’s not different.

As in other recent campaigns, lawyers account for the biggest chunk of Democratic donations. They have donated about $18 million to Obama, compared with about $5 million to John McCain, according to data released on June 2 and available at OpenSecrets.org.

People who work at securities and investment companies have given Obama about $8 million, compared with $4.5 for McCain. People who work in communications and electronics have given Obama about $10 million, compared with $2 million for McCain. Professors and other people who work in education have given Obama roughly $7 million, compared with $700,000 for McCain.

Real estate professionals have given Obama $5 million, compared with $4 million for McCain. Medical professionals have given Obama $7 million, compared with $3 million for McCain. Commercial bankers have given Obama $1.6 million, compared with $1.2 million for McCain. Hedge fund and private equity managers have given Obama about $1.6 million, compared with $850,000 for McCain.

When you break it out by individual companies, you find that employees of Goldman Sachs gave more to Obama than workers of any other employer. The Goldman Sachs geniuses are followed by employees of the University of California, UBS, JPMorgan Chase, Citigroup, National Amusements, Lehman Brothers, Harvard and Google. At many of these workplaces, Obama has a three- or four-to-one fund-raising advantage over McCain.

[2ndDivisionVet]

Senator John McCain (R-AZ, Capt., USN-Retired) is not a lawyer, so that shouldn’t surprise anyone.

[whitedog57]

What a surprise. ...... NOT!

Again, the Goldman Sachs of the USA will manage to sneak in preferential taxes and regulations. Thus, once again, the wealthy will not pay their “fair share” of taxes. Pelosi, Clintons, etc will all ship their cash off shore to avoid taxes and GS will help them do it.

So, who will get clobbered? Anyone in the $250,000 - $400,000 income range. The Dems are targeting this group for economic extinction. This is the old USSR model - keep the ruling class in tact for capital and leadership, but dismantle the middle class.

I don’t mind paying the same RATE as the rich, but I hate the fact that they hide so much of their wealth and then come after me with guns blazing for MY hard earned money.