Collectivism At Work

by Alec MacGillis | October 10, 2011

Sorry, E.J. Dionne, George Will was right -- Elizabeth Warren's a collectivist, and she's collecting a lot of it -- $3.15 million in the span of just six weeks, to be exact, as her campaign announced today.

No word yet on what Scott Brown raised for the quarter; he pulled in $1.98 million from April through June and last reported $9.6 million on hand. But don't think Brown won't be able to match Warren dollar for dollar in what will surely be one of the most expensive Senate races ever. Often overlooked in the story of his stunning victory over the worst Senate candidate ever was the huge, and crucial, backing Brown got from Wall Street late in the race. And Brown has amply rewarded these supporters -- sure, he voted for Dodd-Frank, but the banks have been able to gum up the works on that so far. More important for many in high finance has been Brown's adamant and pivotal opposition to changing the tax treatment of carried interest in the summer of 2010, when it looked like that most egregious of loopholes might finally close.

Source URL: http://www.newrepublic.com//blog/the-stump/95997/collectivism-work