What Billionaires Want: The Secret Influence of America’s 100 Richest
"Most of the wealthiest US billionaires – who are much less visible and less reported on – more closely resemble Charles Koch. They are extremely conservative on economic issues. Obsessed with cutting taxes, especially estate taxes – which apply only to the wealthiest Americans. Opposed to government regulation of the environment or big banks. Unenthusiastic about government programs to help with jobs, incomes, healthcare, or retirement pensions – programs supported by large majorities of Americans. Tempted to cut deficits and shrink government by cutting or privatizing guaranteed social security benefits."
How can this be so? If it is true, why aren’t voters aware and angry about it?
The answer is simple: billionaires who favor unpopular, ultraconservative economic policies, and work actively to advance them (that is, most politically active billionaires) stay almost entirely silent about those issues in public. This is a deliberate choice. Billionaires have plenty of media access, but most of them choose not to say anything at all about the policy issues of the day. They deliberately pursue a strategy of what we call stealth politics. "
(The Guardian, 10/31/2023)
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Link to Issue One in-depth look at Mega influencers.
Link to Jane Mayer The Big Money Behind the Big Lie
"A dozen megadonors and their spouses contributed a combined $3.4 billion to federal candidates and political groups since 2009, accounting for nearly one out of every 13 dollars raised.
“This is a stark illustration of our broken campaign finance system,” said Nick Penniman, the founder and chief executive of Issue One. “Today, a handful of megadonors wield outsized influence in our politics.” Mr. Penniman called on Congress “to pass sweeping reforms to create a democracy that works for everyone.”
The growing influence of multimillion-dollar megadonors has been accompanied by another, competing trend: a surge of small online donations to politicians of both parties. Those contributions — in $5, $10 and $25 increments — have given Democrats and Republicans an alternate source of money beyond the super rich.
Issue One found that the top 100 ZIP codes for political giving in the United States, which hold less than 1 percent of the total population, accounted for roughly 20 percent of the $45 billion that federal candidates and political groups raised between January 2009 and December 2020. The study used data from the Center for Responsive Politics, which compiles figures from the Federal Election Commission."