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John,
Billionaires are richer now than ever before. Their corporations are raking in record profits. Many pay little to no federal income taxes.
What are they doing with this new-found wealth? Buying our democracy.
We recently learned that billionaire Barre Seid donated $1.6 billion to the mastermind behind the right-wing takeover of the U.S. Supreme Court―Leonard Leo and his new organization, the Marble Freedom Trust.[1]
Seid has quietly funded right-wing causes for decades, from climate denialism to business deregulation.[2] But, in the history of American politics, no one has seen a single contribution of this size.
Check out Frank’s email below that explains exactly how Seid not only donated $1.6 billion to Leonard Leo’s new right-wing group, but how he saved himself $400 million in capital gains taxes in the process. Then pitch in today to shine a spotlight on billionaires buying our elections and rigging our economy.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Together, we’re fighting for the future of our democracy where one person equals one vote.
Maura Quint
Campaign Director
Americans for Tax Fairness Action Fund
[1] “An Unusual $1.6 Billion Donation Bolsters Conservatives,” New York Times, Aug 22, 2022
[2] “How a Billionaire’s ‘Attack Philanthropy’ Secretly Funded Climate Denialism and Right-Wing Causes,” ProPublica, Sept 6, 2022
-- Frank's email --
John,
Are you familiar with Leonard Leo? He’s a conservative activist and the executive vice president of the Federalist Society. He’s also the mastermind behind Republicans stacking the U.S. Supreme Court (and lower courts) with right-wing extremists who recently overturned Roe v. Wade.[1]
Leo’s newest organization, the Marble Freedom Trust, recently received the largest political contribution in history—$1.6 BILLION from billionaire Barre Seid—totally tax-free.[2]
In March 2021, Seid donated an entire company to the Marble Freedom Trust, which Leo’s organization then turned around and sold without paying any taxes. This not only enriched the Marble Freedom Trust, but saved Seid as much as $400 million in capital gains taxes.[3]
Billionaire Barre Seid is no stranger to using his fortune to fund right-wing causes. In the past, Seid has funded climate denialism, business deregulation, fighting Medicaid expansion, and radicalizing higher education.[4]
Now he’s put $1.6 billion into the hands of the Federalist Society kingpin who secured the Supreme Court majority that overturned the right women had for the last 50 years to a legalized abortion. Now state legislatures will decide whether women have this right, and many are denying them.
All summer and through Election Day, we’re shining a spotlight on billionaires’ outrageous influence on our democracy, and how they’re using their fortunes, which largely go untaxed, to take away our rights and elect right-wing candidates who will further rig our economy for the rich and corporations. Pitch in today to fight back against billionaires’ influence in our elections.
Seid’s donation has already begun to flow to more anti-democracy causes. One of them is the fraudulently-named "Honest Elections Project," which is asking the Supreme Court to rule in its favor on a case that would make it much easier for state legislatures to gerrymander federal and state election districts and subvert the results of the 2024 presidential race.[5]
This is how billionaires are spending their untaxed fortunes to buy elections and rig the system. Pitch in today to fight back against billionaires’ undue influence in our democracy.
If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:
Together, we’re fighting for an economy and a future that includes all of us, not just the wealthy few.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “A conservative activist’s behind-the-scenes campaign to remake the nation’s courts,” Washington Post, May 21, 2019
[2] “An Unusual $1.6 Billion Donation Bolsters Conservatives,” New York Times, Aug 22, 2022
[3] “A $1.6 billion donation lays bare a broken campaign finance system,” Washington Post, Aug 28, 2022
[4] “How a Billionaire’s ‘Attack Philanthropy’ Secretly Funded Climate Denialism and Right-Wing Causes,” ProPublica, Sept 6, 2022
[5] “This conservative group helped push a disputed election theory,” National Public Radio, Aug. 12, 2022
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