By Kevin Glass
5/9/2011
The Wall Street Journal came out with their CEO Compensation survey yesterday, taking a tally of the highest-paid CEOs in the United States over the past year. Highly-compensated CEOs are constantly attacked by Democrats, with Dems repeating their talking points that CEOs are never taxed at their "fair share." Democrats are now discussing a federal "millionaire's tax" as a revenue-raising scheme.
It turns out, however, that even in the unprecedented GOP wave election of 2010, the top twenty CEOs invested heavily in Democrats, giving 55% more in campaign contributions to Democratic candidates.
Democrats are constantly railing against "the rich" and Wall Street, but the biggest "fatcats" are some of their biggest donors. One of the heaviest hitters is Comcast CEO Brian Roberts, who maxed out donations for John Kerry, Harry Reid, Blanche Lincoln, Chuck Schumer and others. But don't worry, Roberts is an equal-opportunity giver: he gave $2400 to Arlen Specter! (That was his only donation to any GOP candidate.Edit: I had forgotten that Arlen Specter was actually a Democrat at that point. It's hard to keep track!)
Conservative luminries John McCain and Chrlie Crist were amongst the most popular GOP beneficiaries of CEO money.
Disney CEO Robert Iger and JPMorgan CEO Jamie Dimon also went big for Democrats. The two in the past gave $75,000 combined to the festivities surrounding Barack Obama's nomination and their giving was heavily slanted this election cycle toward Democrats. (In fairness, Dimon gave $2000 each to the important GOP campaigns of Rob Portman and Mark Kirk.)
Liberal journalist Thomas Frank wrote a book premised on the idea that many poor people in America vote for Republicans even though "it's not in their economic interest" entitled "What's the Matter With Kansas?" With Democrats constantly harping that GOP policies are a boon for Wall Street even though CEOs are consistently giving heavily to Democrats, I have to ask: What's the matter with Wall Street?
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