Obama's tax cut deal angering major Democratic donors, may drive them away

[brentspeak]

The people quoted here can hardly be blamed for having second thoughts. Would you fork over your hard-earned money to someone who has not only betrayed you but also publicly insulted you and made you into an Emmanuel Goldstein-like punching bag? My only fear is that the decent Democrats up for reelection might not get campaign funds in time for 2112.

http://www.latimes.com/news/nationworld/nation/la-na-dem-donors-20101210,0,49525.story

Obama's tax-cut deal upsets many major donors

snip

Democratic operatives are already laying plans to set up new independent expenditure committees that can raise unlimited funds, and hope to enroll early contributors to establish a beachhead for the coming campaign. But some stalwart party donors are vowing to withhold funds because of their anger over the tax-cut deal.

"I do not plan to support Obama and his reelection effort," said Utah-based hedge fund manager Art Lipson, who gave hundreds of thousands of dollars to the Democratic Party and its allies in recent elections. He views the tax-cut compromise as a giveaway to Republicans that will increase the deficit.

"He's got many great qualities, but he is not a fighter," Lipson said of the president. "I've met with many donors and the level of disappointment is extreme."

snip

"I would say I'm not a happy camper," said Paul Egerman, a software entrepreneur in Boston, who said this was the first time he felt Obama reversed himself on a significant policy issue. "That troubles me. I need to be convinced he really had no alternative."

[Clio the Leo]

1. But will that hold up after Palin makes her acceptance speech at the RNC convention? nt

[gateley]

2. Very good point, Clio. nt

[jillan]

3. What I wish is that they donate instead to Media Matters, who is on a crusade

to get the message out about faux. Or to Move On. Or to Bernie Sanders. Donate to true progressive causes or pols instead.

[truthspeak]

4. Those fat cats can survive a Palin presidency

..they can hold out until 2016 for their preferred candidate to run. The rest of us tho...