Billionaires, Not Voters, Are Deciding Elections
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FEATURING SONALI KOLHATKAR – The recent midterm elections offered an opportunity for America’s moneyed elites to spend their ridiculous wealth on a catalog of their favorite causes and candidates. We are locked in a vicious cycle, where billionaires continue to amass wealth due to policies their influence has bought, which in turn enrich them with even more resources with which to shift the American polity in their favor.
Part of the problem is that billionaires’ control over our democracy is largely invisible. As a recent study by The Guardian showed, high-profile wealthy elites like Warren Buffett or Bill Gates are anomalies. To that point, “[M]ost of the wealthiest US billionaires have made substantial financial contributions—amounting to hundreds of thousands of reported dollars annually, in addition to any undisclosed ‘dark money’ contributions—to conservative Republican candidates and officials who favor the very unpopular step of cutting rather than expanding social security benefits,” write the report’s authors. “Yet, over the 10-year period we have studied, 97% of the wealthiest billionaires have said nothing at all about social security policy.”
Read Sonali Kolhatkar’s entire column HERE.