• The Swarm
  • Posts
  • Take Our Democracy Back From Billionaires

Take Our Democracy Back From Billionaires

The scale of billionaire money in U.S. politics just reached a new extreme.

A new investigation by The New York Times found that just 300 billionaires and their family members poured about $3 billion into the 2024 federal elections — more than double what billionaire donors spent in 2020. Much of that money flowed through super PACs and outside groups made possible by the Supreme Court’s Citizens United decision.

Before Citizens United, billionaire spending made up less than 1% of political donations. Today, it accounts for about 19% of all federal election spending.

According to reporting highlighted by The Guardian and analysis from Americans for Tax Fairness, much of that money backed far-right candidates aligned with Donald Trump — politicians now pushing policies like tax cuts that overwhelmingly benefit the ultra-wealthy.

Critics warned this would happen when Citizens United opened the door to unlimited political spending. Now, a tiny group of billionaires can spend billions to influence elections — and then shape the policies that follow.

That’s not democracy.

Congress has the power to act by advancing legislation and a constitutional amendment to overturn Citizens United and restore limits on political spending.

Thanks,
Mary