by Will Evans, California Watch
The candidates with the most money in state races almost always have more than twice as much as their competitors, according to a study released by the National Institute on Money in State Politics. And those with the most money almost always win.
Legislative races in California have been the most expensive and among the least competitive – in terms of fundraising – in the country, according to a new report.
Only in 4 out of 100 races in 2009 and 2010 did a competitor raise more than half the amount of the best-funded candidate – the lowest rate in the country. In 98 percent of the races, the biggest war chest won. And in every case that involved an incumbent, the incumbent triumphed.
The study, released last week, didn't include big money's biggest flop of 2010: Meg Whitman's record-breaking, and losing, $178.5 million campaign to become governor of California. A previous study by the institute found that self-funded candidates, like Whitman, often fail.
Still, combine incumbency and the monetary advantage – which usually go hand in hand – and “you’re pretty much unbeatable,” said Peter Quist, a lead researcher for the institute.