The Democrats and The Party of Wealth

New Geography reports:

What makes the Koch brothers such great targets is that they come from an industry – energy – that itself is held in the lowest esteem by the progressive activist community and its media allies. Although they tend to be libertarian in their social views, the Kochs are notably, and not surprisingly, skeptical about climate change policies that might impact their vast oil and gas holdings as well as their industrial companies, which, in the words of former New York Times columnist Frank Rich, “spew” such unhappy products as Lycra and Dixie cups. The Kochs’ ties to the Tea Party have led reliably liberal commentators to suggest that the moguls have played the supposedly grass-roots Tea Party for “suckers.”

As they rail against the Kochs, few progressives note that the balance of oligarchic politics are increasingly shifting toward the Democratic Party. This, of course, includes the predictable Hollywood figures, such as Dreamworks’ Jeffrey Katzenberg and a large section of Wall Street, notably financier George Soros, long a major source of funding for President Obama.

These well-heeled progressives have had little to fear from an administration that, despite its occasional populist outbursts, has adopted an economic policy that has exacerbated an already yawning gap in income growth between the wealthy and everyone else. Indeed, Obama, for all his populist rhetoric, retained close ties to firms like Goldman Sachs, staffing his administration with people from, and associated with, that most-detested of Wall Street firms. Indeed the ultrarich so backed the ostensibly left-wing president that, at his first inaugural, notes sympathetic chronicler David Callahan, the biggest problem for donors was finding sufficient parking space for their private jets.

An examination of campaign contributions shows that the vast majority of America’s wealthiest households may already tilt in this direction. Among the .01 percent who increasingly dominate political giving, three of the largest contributions, besides the conservative Club for Growth, backed by Republican oligarchs, went to groups such as Emily’s List, Act Blue and Moveon.org. Liberal groups accounted for eight of the top 10 ideological causes of the ultra-rich; seven of the 10 congressional candidates most dependent on their money were Democrats.

Socialist snobs in action.