By Edward Zelinsky
I live in Connecticut. The Nutmeg State’s 2010 election campaign is a prime example of the emerging domination of American politics by self-funding multimillionaires. This troubling trend has been exacerbated by what is euphemistically called campaign finance reform. The law of unintended consequences strikes again. There is, I suggest, a better way.
Former Connecticut congressman Rob Simmons had been the front-runner for the GOP nomination for the U.S. Senate until Linda McMahon declared her candidacy. Mrs. McMahon has never held public office. She is, however, along with her husband Vince, a founder of World Wrestling Entertainment (WWE) and a multimillionaire. Having spent so far over $20 million of her own money on her campaign, Mrs. McMahon is now favored to win the primary for the Republican nomination for the U.S. Senate.
A similar story is playing out in the contest for the Democratic nomination for Governor of Connecticut. The polls indicate that the front-runner for the Democratic nomination is Edward (“Ned”) Lamont. Like Mrs. McMahon, Mr. Lamont is a multimillionaire, the great-grandson of the legendary J.P. Morgan partner, Thomas W. Lamont. In 2006, Mr. Lamont spent roughly $14 million of his own money to defeat incumbent Joseph I. Lieberman for the Democratic nomination for the U.S. Senate. Mr. Lamont has to date spent almost $2 million of his fortune on his 2010 gubernatorial campaign.
Current polls also indicate that another multimillionaire self-funding his campaign leads in the race for the Republican nomination for Governor. Thomas C. Foley, the former U.S. ambassador to Ireland, outpaces Lt. Gov. Michael Fedele (who is participating in Connecticut’s program of publicly-subsidized campaign finance) and businessman Nelson (“Oz”) Griebel (who is not).
What is occurring in Connecticut is emblematic of broader, nationwide trends. It may well be that Mrs. McMahon, Mr. Lamont and Ambassador Foley are qualified to hold the offices they seek. There is, however, no doubt that their currently strong positions are principally attributable to the personal funds they have deployed to advance their respective candidacies.
Of course, the candidate who spends the most doesn’t always win. In earlier ages wealthy individuals were politically prominent. George Washington and Ben Franklin were both wealthy men. The U.S. Senate was a millionaires’ club at the end of the 19th century – as it is again today.
Nevertheless, the contemporary political dominance of self-funding millionaires in Connecticut and in other states is disquieting. Moreover, this trend is exacerbated by the very campaign finance “reforms” intended to reduce the impact of money on our political life. This is the law of unintended consequences striking with vengeance.
Consider, for example, former Stamford Mayor Dan Malloy, Mr. Lamont’s chief competitor for Connecticut’s gubernatorial nomination, and Lt. Gov. Fedele, Ambassador Foley’s main rival on the Republican side. Both Mayor Malloy and Lt. Gov. Fedele have accepted financing from Connecticut’s system of campaign finance. However, the p