Are the new funding groups bad for democracy? Photo: matthileo

How much does money matter in a democracy? Just 200 rich individuals, each contributing an average of $500,000, are responsible for over half the $182m donated to Super PACs. These fundraising vehicles came into existence two years ago, after the Supreme Court ruled restrictions on the amount of money given to political organisations violated the first amendment right to free speech. But that freedom of speech, denominated in cash, inevitably limits the influence of everyone not a millionaire.

Super PACs now dominate Republican fundraising, which has the effect of concentrating power into ever smaller and richer circles. Newt Gingrich’s PAC, amazingly, received almost all its money from just one man, Sheldon Adelson (and his wife). The casino billionaire, who calls himself “the richest Jew in the world,” is a fervent Netanyahu supporter. Might that explain Gingrich’s television comment that Palestinians