Campaign Stops: Billionaires Going Rogue

If there is one rule of thumb governing campaign finance regulation, or the lack thereof, it is that the consequences of any changes in the system are unpredictable.

In 2002, when Congress enacted the McCain-Feingold law barring large "soft money" contributions from corporations, unions and rich people to the political parties, many observers assumed that the Democrats would suffer more. The party had never fully cultivated a small donor base and had consistently been more dependent on mega-contributions than the Republican Party.

In less than two years, this assumption was proven wrong. First, in the 2004 election, small donors in droves gave their credit card numbers to the Democratic campaign of John Kerry, and Kerry was able to keep pace with George W. Bush, dollar for dollar. Four years later, the cash flow to Barack Obama swamped John McCain. The Internet, and with it the ability of campaigns to inexpensively reach millions of prospective donors, permanently transformed fundraising.

In 2010, campaign finance law was turned on its head. The Supreme Court decision in Citizens United v. Federal Election Commission, and appeals court decisions such as Speech Now v. F.E.C., opened the door to unlimited contributions to technically independent political action committees (super PACs) from corporations, unions and individuals.

The result has been a stupefying array of PACs, 501(c)4s and 501(c)6s that even professionals can barely keep track of. The future that Buckley v. Valeo set in motion almost 40 years ago has arrived, and the current multiplicity and multidirectionality of "reform" has overwhelmed both the people and the parties.

The virtually unanimous view throughout the course of four decades of revised regulation was that the Republican Party and its candidates would be the major beneficiaries, and, so far, that has been true.

The first chart, provided by the Center for Responsive Politics, shows that outside spending tilted left in every year from 2000 to 2008, but that in 2010 — in the aftermath of deregulation — the balance skewed decisively to the right. In the current 2011-12 election cycle, it shifted overwhelmingly to the right:

The movement rightwards of almost half a billion dollars in this cycle alone — signified by the red bar on the graph representing Republican donations — is not, however, the pure gold that analysts on both sides expected.

While, the rapid growth of well-financed and autonomous competitors threatens all existing power structures, the bulk of the costs are likely to fall on the Republican Party. The right wing of the Republican Party has more disruptive potential than the left wing of the Democratic Party because it is more willing to go to extremes: see the billboards showing Obama bowing down before an Arab Sheik, or the ads and DVD claiming that Obama is the bastard son of the African American communist, Frank Marshall Davis.

There are, furthermore, structural and historical differences between the parties: the Republican Party and the conservative establishment is institutionally stronger than the Democratic Party, with an infrastructure that served as a bulwark through the 1960s and 70s – the American Enterprise Institute, the Heritage Foundation, the Cato Institute, the Olin Foundation, etc. — when Republicans appeared to be a permanent congressional minority. Its financial prowess enabled the party to enforce more discipline on its consultants and elected officials. The Republican establishment also exercises more authority over policy and candidate selection than does its Democratic counterpart.

In recent years, the Democratic Party organization has gained some strength and it plays a much more active role in campaigns at all levels than in the past, but as an institutional force capable of command and control, it remains light years behind the Republican Party.

Republicans, in contrast to Democrats, prefer hierarchical, well-ordered organizations, and are much more willing to cede authority to those in power. Democrats, despite the discipline of individual campaign efforts, tend more toward anarchy than hierarchy. Historically, one result of this partisan difference is that the Republican establishment has tightly managed candidate selection at the presidential level. With extraordinary consistency, the party has crushed insurgent candidates and selected the next in line. Ronald Reagan and Bob Dole, for example, both had to wait until it was their turn.

The Republican establishment has a full arsenal of weapons at its disposal, including endorsements, favored speaking engagements at key party gatherings, leverage over top consultants and a signaling process to show who has been anointed from on high.

The most powerful weapon of all was always the oversight exercised by party leaders over the flow of money to candidates. Every four years when the nomination process began, business leaders, Republican-leaning trade associations, top corporate law firms and investment bankers slowly formed a consensus behind a favored candidate.

The establishment snuffed out insurgencies, including candidates from the social right — Pat Buchanan, Pat Robertson and Gary Bauer — and candidates from the economic right like Jack Kemp and Steve Forbes. None of these outsiders rose past marginal status, although their presence in primary contests often forced the mainstream candidate to make concessions that proved damaging in the general election.

Compare that history of unbroken authoritarian dominance to the 2012 Republican nomination fight.

Unleashed by Citizens United, a handful of renegade billionaires made life miserable for Mitt Romney, the establishment candidate. More importantly, it only took four men — Sheldon Adelson, the Las Vegas and Macao casino mogul; Harold Simmons, a Dallas-based leveraged buyout specialist; Foster Friess, a conservative Christian and a successful investor; and William Dore, a Louisiana energy company C.E.O. – to stun traditional party power brokers during the first four months of 2012.

The millions of dollars these men put into the super PACs associated with two clearly marginal candidates, Newt Gingrich and the former Pennsylvania Senator Rick Santorum, turned the primary process into an open contest, giving full voice to the more extreme wings dominated by the Tea Party and the evangelical right.

The newly empowered billionaires are positioned to challenge the Republican Party at its point of greatest vulnerability, during the primaries. The three major party organizations — the Republican National, Congressional and Senatorial Committees – cannot, except in unusual circumstances, intervene in primaries. Those are to be decided by voters, not the party.

The new class of financial bosses, equipped to legitimate primary candidates at all levels, has no such restriction over participation in primaries. Instead, the incentives are substantial to engage full force in the nomination process where the marginal value of each dollar is higher and more likely to influence the outcome than in the general election.

These new players, along with their super PACs, undermine the influence of the parties in another crucial way. Before Citizens United, the three major Republican Party committees exerted power because their financial preeminence gave them the final word on the award of contracts to pollsters, direct mail, voter contact, and media consultants – very few of whom were willing to alienate a key source of cash.

The ascendance of super PACs creates a separate and totally independent source of contracts for the community of political professionals. Super PACs and other independent groups already raise more than any of the political party committees and almost as much as either the Republican or Democratic Party committees raise in toto.

This chart shows the rapidity of the growth of independent spending:

And this chart shows the amounts raised so far this year by the party committees:

Nathan Persily, a professor at Columbia Law School and a political scientist, made the point to me with a question: "Who is the Republican Party in the Citizens United age? If you had to point to the 'Republican Party' would you be more likely to point to Reince Preibus (and implicitly the R.N.C.) or Karl Rove (and Crossroads G.P.S.)? I think candidates might consider Rove more important."

Preibus is the chairman of the R.N.C.; Karl Rove founded American Crossroads, a super PAC, and Crossroad GPS, a tax exempt independent expenditure organization that is not required to disclose donors. So far in the 2011-12 election cycle, American Crossroads and Crossroads GPS have spent $174.28 million, a sum two million dollars greater than the $172.2 million spent by the Republican Congressional and Senatorial Committees combined.

By now you may have the question in the back of your mind: who cares about the political parties? Aren't they just agents of the status quo at a time when innovative thinking is needed? Maybe diminishing their role will help lessen polarization and open up the system?

There may be some truth to this and perhaps the benefits will outweigh the costs. Conversely, the diminishment of the parties means that the institutions with the single-minded goal of winning a majority will be weakened. When parties are influential, they can help keep some candidates and office holders from going off the ideological deep end. The emergence of independently financed super PACs give voice to those with the most extreme views. An ad like this is likely to alienate as many citizens as it motivates:

Predictions are notoriously dangerous, given the multitude of possible outcomes. If the parties are eviscerated, the political system could adjust itself and regain vitality. But I doubt it. For all their flaws, strong political parties are important to a healthy political system. The displacement of the parties by super rich men determined to flex their financial muscles is another giant step away from democracy.

Thomas B. Edsall, a professor of journalism at Columbia University, is the author of the book "The Age of Austerity: How Scarcity Will Remake American Politics," which was published earlier this year.

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