Tom Foley
Does Money Talk?
Photo credit: Tom Foley campaign
Posted 2/22/10
In America, there is nothing unusual about millionaires in politics. Think the Bushes, the Kennedys, and the Roosevelts. Go farther back and ponder the involvement of wealthy men such as George Washington and John Hancock. It seems that for every poor rail-splitter turned country lawyer such as Abraham Lincoln, there have patricians in power right by their side.
This year Connecticut has a plethora of millionaires running for high office. The Republican side of the U.S. Senate race includes a former wrestling entertainment empire executive Linda McMahon, and financier Irwin Schiff. Democratic State Attorney General Richard Blumenthal, now running for U.S. Senate, also has plenty of family money to draw on if need be.
The race for Governor features liberal Democratic millionaire businessman Ned Lamont, and a wealthy Republican businessman Tom Foley.
In recent decades, other Republican millionaires have tried for high office, sought out by the state GOP on the premise that these guys would tap their own bank accounts instead of hitting up the party for campaign bucks. Do you remember Brook Johnson, or Jack Orchulli? Probably not, because they lost.
When Connecticut’s two veteran U.S. Senators Chris Dodd and Joe Lieberman were at the peak of their popularity, pragmatic (i.e. poor) Republicans wouldn’t take them on. Johnson and Orchulli brought their own financial resources to go after Dodd—but to no avail. You will recall that Democrat Lamont gave Lieberman a serious test in 2006, actually winning the Democratic primary, but losing to Joe in a three-way general election tilt, burning about $15 million of his own fortune in the process.
This year, it is conceivable that the battles for U.S. Senate and Governor could see millionaire vs. millionaire—perhaps McMahon against Blumenthal, and Lamont against Foley. But what about that Connecticut public financing law that uses state money to finance campaigns?
Well, it doesn’t apply to the Senate battle—that’s a federal election. Also, the law is voluntary. Foley has called it “ridiculous” and Lamont says he’d use it only if every candidate is involved. Bottom line—open your pocketbooks and wallets you millionaires!
In the past, Connecticut elected millionaires such as former U.S. Senator and Governor Lowell Weicker, and the late U.S. Sen. Prescott Bush, but these guys ran conventional campaigns instead of relying big time on their own funds.
The latest crop of wealthy political wannabes seem eager to spend whatever it takes of their own lucre to win. But why? Taking the most cynical view possible, you could speculate that McMahon, Lamont, Foley, are bored after reaching success in their businesses, and view elective politics as an exciting new challenge.
One wonders if they really know what being in the Senate will be like in politically gridlocked Washington, or if the gubernatorial hopefuls fully fathom the work hours the modern-day Connecticut governorship demands, especially with the current deficit crisis.
Being wealthy enough to finance your own campaign makes it easier to focus on the contest instead of raising money, but it does not guarantee success. Voters may resent the “Richie Riches” of the world asking for their votes. Can’t you just hear one or more of the other candidates suggesting the millionaires are trying to “buy” the election?
Simsbury First Selectman Mary Glassman, who is seeking the Democratic gubernatorial nomination, plans to use the public financing law. “I don’t have a lot of money, but I do have a lot of ideas, and public financing gives me the opportunity to serve,” she said. Glassman added: “Most people in Connecticut aren’t millionaires, they work for a living and so do I.”
Politicians who’ve moved up the political ladder such as Glassman (who you may recall was the Democrats lieutenant governor nominee in 2006), have gained savvy and knowledge about the political game with each rung. In terms of strategy, and in debates, that may win out over the well-oiled self-financed campaigns of millionaires political novices.
One classic gaffe by a millionaire candidate can be devastating if it irks low and middle income voters, especially in this economy where so many have lost their jobs or fear losing their jobs at the hands of wealthy CEO’s.
Still, the political climate is volatile this year. If McMahon, Foley, and Lamont succeed by spending plenty on well-crafted TV political ads that urge voters to try a “fresh face”, an “outsider” from politics-as-usual, someone rich enough to be immune to entrenched special interests, a millionaire from Connecticut could become Governor or U.S. Senator by the time the votes are counted this November.