Democratic donors benefit from Democratic policies

Democrats have a neat little two-step when it comes to money in politics: First, they malign Republican policies by noting that rich people favor Republicans. If you point out that rich people are just as likely to favor Democrats, as I did in my most recent column, they respond that their rich people aren’t seeking personal benefit.

This second defense is completely false, too. Republican donors may benefit from deregulation and tax cuts that Republicans favor, but Democratic donors benefit from the subsidies, taxes, and regulations that Democrats favor.