Getting Money Out of Politics — Yeah Right!

The Wall Street Journal has a useful article on the rise of 527 organizations to take the place of political parties. There is a great chart in the article showing Pro-Republican and Pro-Democrat groups. Quite frankly, I don’t think the Republicans will follow the Dems as deep into the 527 foray. I know several GOP attorneys who are advising against it. I hope we don’t underestimate the power of 527s.

Here’s a good look at the article:

For corporations, unions and individuals who want to continue writing the same huge checks that defined the soft-money era, there are many groups on both ends of the political spectrum with their hands out. A handful of left-leaning groups have announced plans to raise $200 million or more to finance voter registration and mobilization efforts and broadcast advertisements. Republicans have been slower to form such groups, but “it’s absurd to think that conservatives are going to sit on the sidelines,” says one influential Republican attorney.

There are no restrictions on voter-mobilization efforts, and some rich donors are putting most of their cash there, including liberal billionaire George Soros, who has contributed $10 million to a pro-Democrat voter-registration drive.