Monopoly Capital Owns Both Parties

November 26, 2006

Despite all the fanfare about the electoral victory of the Democrats, the government's program is not going to change.

On every major issue - whether it be waging the war in Iraq, bailing out the airline industry at the expense of the workers, attacking immigrants, slashing social spending, etc. - the Democrats and Republicans both defend the interests of the capitalist class against the people.

And it can be no other way because both parties are bought and paid-for by the capitalists. The financial records of the 2006 elections again show how precisely the same corporations and big banks fund both parties.

The following table gives a partial glimpse of some of the major contributors to the recent election campaigns of the Republicans and Democrats. The material is taken from www.opensecrets.org and based on figures released by the Federal Election Committee on October 10, 2006.

 

Company Amount Dems Repubs
American Bankers Assn $2,272,100 32% 67%
Citigroup Inc  $1,633,638 51% 47%
JP Morgan Chase Co. $1,618,476 57% 42%
Bank of America  $1,618,328 43% 57%
Goldman Sachs  $2,615,983 60% 39%
Morgan Stanley    $1,592,404 48% 51%
UBS AG      $1,498,536 47% 49%
AT&T     $2,224,055 33% 66%
Verizon      $1,539,579 40% 59%
BellSouth   $1,190,638 39% 60%
Pfizer  $1,335,481 30% 70%
GlaxoSmithKline    $808,166 39% 70%
Johnson & Johnson  $808,166 39% 61%
Real Estate  $55,612,393 43% 56%
TV/Movies/Music  $55,612,393 61% 38%
Computers/Internet    $13,451,877 50% 49%