“Billionaires represent 0.000002% of the American population, but they’re responsible for 7.4% of all political donations so far this cycle,” according to Americans for Tax Fairness.

By Jessica Corbett  Published 11-3-2022 by Common Dreams

Peter Thiel speaking with attendees at the 2022 Converge Tech Summit at The Waste Management Phoenix Open at the Skybar at TPC Scottsdale in Scottsdale, Arizona. Photo: Gage Skidmore/flickr/CC

With under a week until the U.S. midterm elections, Americans for Tax Fairness revealed Thursday that billionaires have poured hundreds of millions of dollars into campaigns this cycle, largely to benefit Republican candidates.

“A torrent of billionaire cash is drowning our democracy,” declared Frank Clemente, executive director of Americans for Tax Fairness (ATF). “Money talks when it comes to influencing candidates and winning elections, and the loudest voices by far are billionaires pushing for lower taxes so they can accumulate even greater wealth and have even more power and influence.” Continue reading →