Billionaires are spending nearly 40 times more on elections than they were 12 years ago before Citizens United. Donations increased from $31 million total during the 2010 election cycle to a whopping $1.2 billion in the 2020 election cycle.
. In the 2008 presidential election cycle, billionaires donated about $17 million, according to a report by Americans for Tax Fairness and
last year. This means that billionaires spent over 70 times more on elections in 2020 than in 2008, before the controversial Supreme Court decision.decision that restricting corporate donations was a violation of corporations’ First Amendment rights – a decision that granted individual rights to corporations and enabled them to spend unlimited amounts of money on campaign contributions.
Campaign donations serve as an investment for the ultrarich. Indeed, one of the reasons why billionaires are donating more money than before is because they have been allowed to accrue unlimited wealth
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