John,

When billionaires spend massive sums of money to buy our elections, they’re not just working on right-wing projects like de-funding public schools and attacking abortion rights. They’re also buying power and influence―electing candidates who will further rig our economy at the expense of working people.

In 2016, billionaires Richard and Elizabeth Uihlein and Diane Hendricks, combined, donated about $20 million to organizations supporting U.S. Senator Ron Johnson’s (R-WI) re-election. The next year Donald Trump signed his 2017 tax scam into law, which included a loophole pushed by Ron Johnson that saved the Uihleins and Hendricks a combined $80 million in taxes in 2018 alone.[1] And, this loophole is the gift that keeps on giving.

When billionaire Ken Griffin spent $54 million to defeat a ballot initiative in Illinois that would have increased taxes on the wealthy from 5% to 8%, it saved him what could have been $51 million a year![2]

A brand new report from Americans for Tax Fairness about billionaires buying elections shows that 465 billionaires have spent nearly $900 million to influence the 2022 election―by far the most billionaires have ever spent on a midterm.

We’re fighting back, demanding Congress pass the Billionaire Minimum Income Tax―because when billionaires pay their fair share in taxes, they’ll have a lot less to spend on destroying our democracy. Pitch in today!

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Together, we’re shining a spotlight on billionaires buying elections and fighting for a democracy that is truly one person, one vote.

Andrea Haverdink
Digital Director
Americans for Tax Fairness Action Fund

[1] “Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut,” ProPublica, Aug. 11, 2021
[2] “Ken Griffin Spent $54 Million Fighting a Tax Increase for the Rich. Secret IRS Data Shows It Paid Off for Him.” ProPublica, July 7, 2022

-- Frank's email --

John,

With Election Day fast approaching, Americans for Tax Fairness is out with a new report on billionaires buying elections.

New data shows that 465 billionaires have pumped at least $881,000,000 into the 2022 federal midterm elections―27 times more than billionaires contributed before the disastrous Citizens United Supreme Court decision in 2010 that opened the floodgates to unlimited campaign contributions to super PACs from the wealthy and corporations. Just look at this new graphic:

Listed among the top 10 billionaires buying our elections are a few who you voted as your “Scariest Billionaires” in our recent Halloween vote: co-founder of PayPal and early Facebook investor Peter Thiel and co-founders of a Wisconsin-based industrial supply company, Richard and Elizabeth Uihlein. Combined, the Uihleins and Thiel have contributed $97.4 million to right-wing candidates and super PACs this election cycle.

In fact, three-quarters of the nearly $900 million donated came from just 20 billionaire households.

This massive concentration of wealth among an elite few is poisoning our democracy and ultimately the laws we live by.

Donate today to shine a spotlight on billionaires buying elections and to demand Congress pass the Billionaire Minimum Income Tax so that the richest 0.01% of Americans pay taxes on their wealth gains each year, like the rest of us pay taxes on our wages.

DONATE

Billionaires represent 0.000002% of the American population, but they're responsible for 7.4% of all political donations so far this cycle. And they’re largely bankrolling right-wing candidates including U.S. Senate candidates JD Vance in Ohio, Blake Masters in Arizona, and Senator Ron Johnson in Wisconsin.

All three are locked in close races that could tip the balance of power in the Senate.

Donate today to share the brand new report from Americans for Tax Fairness about billionaires buying elections with voters across the country and let them know who’s spending big bucks to influence their vote, take away our rights, and rig our economy so they continue to not pay their fair share in taxes.