During the 2012 presidential campaign, which was marked by an explosion of political donations from wealthy and corporate interests, casino magnate Sheldon Adelson was one of the biggest players.
Adelson spent more than $20 million in the Republican primaries to support his preferred candidate, former Speaker of the House Newt Gingrich. After Gingrich was defeated, he contributed at least $40 million more in donations to Republican nominee Mitt Romney and various conservative groups.
Those figures only include donations that were legally required to be reported. GOP fundraisers close to Adelson claim that he gave as much as $150 million in donations to super PACs and other political nonprofits.
Adelson claimed to support these Republican candidates in their efforts against President Barack Obama because he decried the president’s “socialist-style economy” and supposed commitment to “redistribution of wealth.”
Adelson claims to stand against an overbearing federal government imposing burdensome regulations on business owners and entrepreneurs. However, Adelson is now attempting to use his money and influence to promote government regulations that would help make him even wealthier.
One of Adelson’s highest legislative priorities is a ban on Internet gambling. The rise of online gambling has threatened the business model of traditional casinos, the industry in which Adelson makes his billions.
Online gambling is a prime example of the free market at work: aspiring entrepreneurs using a combination of technology and high demand for a product or service to build a successful business.
Unfortunately for owners of online gambling platforms, Adelson is now turning his massive wealth and influence against them. Last year, Adelson hosted a fundraiser for Sen. Lindsey Graham, R-S.C. He and his wife, Miriam, donated $7,800 each to Graham’s re-election campaign.
Now, Graham, who hasn’t taken a strong stance on Internet gambling in the past, is planning to introduce a bill outlawing the practice in the U.S.
Adelson’s influence-peddling is not limited to members of the Republican Party. He recently hired the lobbying firm headed by former Democratic Sen. Blanche Lincoln of Arkansas to assist with his anti-online gambling efforts. Lincoln’s client list is a “Who’s Who” of powerful corporate interests, including Comcast, Monsanto and energy giant Valero.
Lincoln will now lobby her former colleagues on Capitol Hill, encouraging them to restrict online gambling, which would provide Adelson with even more money to contribute to their re-election campaigns.
Adelson’s donations illustrate a larger point about the role of money in American politics. Billionaires like Adelson and the Koch brothers donate to politicians for a reason: They are businessmen seeking a return on their investments. They contribute millions to political campaigns, and in exchange, they expect a government that favors their interests foremost.
This system of legalized bribery results in the opposite of the free market that conservatives like Adelson claim to support. Instead of creating a level playing field for all business owners, those with the most personal wealth are able to influence government policy exclusively in their favor.
Adelson’s influence on American politics should be frightening for other reasons, too. Among other questionable stances on both domestic and foreign policy, he once suggested that the U.S. launch a preemptive nuclear strike on Iran. Adelson claimed that such a brutal, unprovoked act of violence is “the only thing they (the Iranians) understand.”
Adelson’s casino empire, Las Vegas Sands Corp., recently paid a $47 million fine to the U.S. government to avoid criminal charges in a money laundering investigation.
Government cannot function properly when a few billionaires exert such influence over our elected officials. Until strong, meaningful restrictions on campaign contributions are enacted, our legislators will continue to favor those to whom they most owe their power: wealthy campaign donors.
[Elliot Levy is a UF political science and public relations junior. His columns appear on Wednesdays. A version of this column ran on page 7 on 3/26/2014 under the headline "Adelson’s donations demonstrate system of ‘legalized bribery’"]
