Corporate PACs give heavily to Democrats

So with Obama imposing massive regulations on businesses, why are businesses giving so heavily to Democrats? Is it because companies are afraid or retaliation from Democrats? Some firms obviously benefit from government regulation, but on net more are harmed then helped. From the Washington Examiner:

Federal law limits how much corporate political action committees (PACs) can give to members of Congress, but high-powered K Street lobbysts have found a loophole that enables them to give an estimated $50 million to senators and representatives. . . .

The biggest spenders were Chevron and Wal-Mart, which donated $2.9 million and $2.2 million respectively. And the biggest recipients were the Congressional Black Caucus with over $6 million, the Congressional Hispanic Caucus with over $4 million and President Barack Obama with over $1 million.

Nine of the top 10 recipients were Democrats, or in the case of the two ethnic caucus groups, heavily oriented to the Democratic Party. The lone top 10 recipient not associated with Democrats is Gen. David Petraus, recently appointed by President Obama as director of the CIA. . . . .

The report is available here.



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