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Big Money Out - Join the Action in Washington
Both parties are still in the thrall of billionaires and big corporations. It’s always timely to protest big money in politics. Here’s what I wrote back in December 2024:
Open Secrets reports that the total cost of the election fell about 17% in inflation-adjusted dollars compared with 2020. (Note that there were not expensive presidential primaries in 2024.) Our ally American Promise reports that of the $20 billion spent at the federal, state, and local levels, “$4.45 billion came from outside groups like Super PACs – more than double the amount of outside spending in 2022. Dark money contributions totaled over $1 billion.” Cryptocurrency companies and related individuals spent $245 million. Pro-Israel AIPAC spent over $42 million, and Zionist Miriam Adelson (owner of the Dallas Mavericks NBA team and widow of gambling magnate Sheldon) spent $132 million. Although this money was not technically dark, these spenders’ ads did not identify themselves nor even mention crypto deregulation or Israel. Rather, they generally followed the messaging of the campaigns they were supporting.
The Federal Election Commission recently reported that Elon Musk spent $277 million on the 2024 election. An Open Secrets report (filed prior to the most recent FEC data) tracks the biggest independent spenders. Republicans dominated this category. Timothy Mellon, grandson of banker and tycoon Andrew Mellon, spent $197 million on behalf of Republicans. The ultraconservative Uihlein family and Adelson each spent about $132 million. Financiers Kenneth Griffin, the Yass family, Paul Singer, and Stephen Schwartzmann combined for almost $300 million. Michael Bloomberg and the Moskovitz family together spent $82 million on behalf of Democrats. The next 10 biggest donors spent a total of about $215 million, with almost $150 going to Democrats. As reporting is completed, more mammoth spending and donations may come to light.