Matt Bai: “The reason for this exponential leap in political spending, if you talk
to most Democrats or read most news reports, comes down to two words:
Citizens United. The term is shorthand for a Supreme Court decision that
gave corporations much of the same right to political speech as
individuals have, thus removing virtually any restriction on corporate
money in politics. The oft-repeated narrative of 2012 goes like this: Citizens United unleashed a torrent of money from businesses and the multimillionaires who run them, and as a result we are now seeing the corporate takeover of American politics.”
“As a matter of political strategy, this is a useful story to tell, appealing to liberals and independent voters who aren’t necessarily enthusiastic about the administration but who are concerned about societal inequality, which is why President Obama has made it a rallying cry almost from the moment the Citizens United ruling was made. But if you’re trying to understand what’s really going on with politics and money, the accepted narrative around Citizens United is, at best, overly simplistic. And in some respects, it’s just plain wrong.”
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