I should start this off by saying that I like Matt Taibbi. His coverage of the financial crisis and other political corruption often delves into issues ignored by most media outlets, and his acerbic wit makes for fun reading. Nevertheless, he often fixates on the wrong aspect of the scandal he’s uncovering, and that usually involves focusing on campaign contributions.
In his blog post about the Iowa caucuses, Taibbi yammers on about how contributions corrupt the campaigning process:
“[T]he ugly reality, as Dylan Ratigan continually points out, is that the candidate who raises the most money wins an astonishing 94% of the time in America.
“That damning statistic just confirms what everyone who spends any time on the campaign trail knows, which is that the presidential race is not at all about ideas, but entirely about raising money.”
This is so logically porous that it hardly needs explaining (but that won’t stop me). Continue reading