Ebook: Money talks: corporate PACS and political influence

Here is a fascinating behind-the-scenes look at what PACs want from Congress and how they go about getting it. Everyone agrees that in politics "money talks" and that political action committees (PACs) have transformed our system of campaign finance. But what exactly do the PACs hope to get in return for the money they contribute to the campaign chests of politicians? Although much has been written about how such money corrupts Congress and shapes public policy, this remarkable book is the first to ask the men and women who actually spend the money, the PAC managers themselves, exactly how they work - how they decide whom to support and with how much. Based on extensive and extremely candid interviews with key officials from every major kind of corporate PAC, the book shows that the impact of PACs is more subtle - and more insidious - than merely changing votes. Money Talks shows how PACs work - out of the public eye - to make minor changes in the wording of a bill, long before it reaches the floor of Congress. If a company can get the wording it wants, according to one PAC director, then "it doesn't much matter how people vote afterwards." PAC directors are not worried by reform proposals, the book shows. The PAC is only one of many ways they can influence Congress, "a tool and nothing more." If PACs were abolished, they are confident they could find ways to evade the rules. The authors argue that multiplying regulations won't work and that PACs will always stay one step ahead of any regulations. As one PAC director said, "by the time they change it, it's too late," and the book cites several PAC managers who explain how they would get around the system. Money Talks argues instead for an innovative system of public financing, one which would cost us far less than the tax loopholes and giveaways that are the products of our current system.;1. Money Changes Everything. Why Does the Air Stink? The Candidates' Perspective. The Current Law. Corporate PACs. Our Research. The Interviews. Overview and Background. What Is Power? Business Is Different. The Limits to Business Power -- 2. Raising Money and Running the PAC. Establishing the Rules. A Brief History of Campaign Finance. SUN-PAC: The Hidden Face of Power. Raising Money. Campaigns to Raise Money. Coercion to Contribute. Untapped Potential. Running the PAC. The PAC's Internal Structure. Increasing Managers' Political Participation. Democracy in Action? Congress Approves -- 3. Gifts: Networks of Obligation. Understanding Gifts. Deciding on Contributions. Requests and Member Pressure. The Decision Process. Pragmatic Criteria. Ideological Contributions. Controversy: Why and How Often? Creating a Sense of Indebtedness. Giving More Than a Campaign Contribution. PAC Contributions Build Networks. Conclusion -- 4. Access: "I Can Get to Waxman for $250" Myth One: Key Votes Are the Issue. High-Visibility Issues. Low-Visibility Issues and Nonissues. What a Typical Bill Is Like. The Bottom Line. Business Hegemony. Myth Two: Money Is Explicitly Exchanged for Votes. Are These Loopholes Available to Everyone? Keeping Track and Knowing the Players. Getting Access and Shaping a Solution. Defending the Change and Getting It Through. The PAC Is Only a Part of the Process. Why Corporations Can Do What Others Can't. Myth Three: Political Party Matters. Myth Four: Business Wins Without Effort. Language and Euphemism. Policy Implications -- 5. Ideology: Defending Free Enterprise. Characteristics of an Ideological Orientation. Relation to Lobbying. Candidates and Races. A Formula for Self-destruction. The Rise and Fall of Ideological Behavior. The Ideological Mobilization of the 1970s. The PAC Contribution to This Ideological Mobilization. Did This Mobilization Make a Difference? The Democrats: Taking Care of Business. Assessing Corporate Ideological Donations -- 6. Business Unity, Business Power. Building Business Unity. Learning About Issues. Asking Each Other for Money. Can Industry Competitors Work Together? Business Unity Beyond the Industry. How Campaign Finance Lows Coerce Business to Unify. Control of the Economy. Levels of Inequality. Business Decisions. The Pinto Gas Tank: An Example of Business Decision Making. Spending the Money. Confronting Business Power -- 7. "They Might Start Running It Strictly for the Votes" PAC Directors On PACs. "A Tool and Nothing More" Reforms Aren't Imminent. "By the Time They Change It, It's Too Late" Piecemeal Reform Won't Work. The Purpose of the Current System. Economy and Polity: Contradictory Principles. What Should Campaign Finance Reform Aim to Do? Public Financing. Objections and Arguments Against. Arguments For. New Rules for Primaries. Be Realistic. Consequences. The Character of Congress. Political Change. Business Power.