BILLIONAIRES ARE ALREADY BUYING THE 2026 ELECTIONS

SUMMARY: Billionaires are already spending record amounts of money on 2026 election campaigns. Most of this money flows through Political Action Committees (PACs) and goes to Republicans. The Democratic National Committee (DNC) and state Democratic committees should ban PAC money from their primary elections because it distorts election results, perverts governments’ policies, and drowns out the voices of working people.

(Note: If you find a post too long to read, please just skim the bolded portions. Thanks for reading my blog!)

(Note: Please follow me and get notices of my blog posts on Bluesky at: @jalippitt.bsky.social. Thanks!)

One of the problems with great economic inequality in a democracy is that the wealthy will find a way to buy policy decisions and enforcement that favor them. It can be through outright bribes. Or it can be more subtle. Our campaign finance system effectively lets the wealthy buy candidates. First, candidates without access to wealthy people’s money generally don’t even bother to run because they don’t have a chance. Second, during the campaign, wealthy donors fund and support candidates who will do their bidding once elected. Once in office, those elected want to get re-elected, so they curry favor with wealthy donors by supporting policies donors favor to ensure their funding for re-election campaigns.

Although U.S. campaign finance laws limit the amount an individual can give directly to a candidate or a political party, the Supreme Court’s 2010 Citizens United decision allows unlimited spending by super Political Action Committees (PACs). PAC spending is supposed to be independent of the candidate being supported, but the rules on independence are ignored and unenforced.

Therefore, much of the billionaires’ money flows through PACs. Nine of the eleven richest PACs fund Republican campaigns. Trump’s MAGA Inc. PAC leads the way with $89 million from billionaires. Musk’s America PAC is second at $45 million. The Senate and House PACs for Republicans have received a combined $66 million while those for Democrats have received $37 million. The other five richest PACs all fund Republicans and have between $15 and $10 million.

Billionaires are willing to spend lots of money on campaigns (or bribes) because the return on their investment is huge. A few million dollars can buy them tax cuts worth billions as the Republicans 2017 tax cut bill and the 2025 so-called One Big Beautiful Bill did. The wealthy’s campaign spending also buys them deregulation or contracts for their businesses that are worth billions. In the 2024 federal elections, billionaires accounted for almost 20% of all campaign spending. [1]

Grassroots organizing that gets lots of people to vote and educates them to distrust the advertising they see and hear from wealth-backed candidates can beat billionaires’ money, but it takes lots of work. Public matching funds for small donations to campaigns coupled with links to limits on donation size also make a huge difference as Mayor Mamdani’s campaign in New York City demonstrated. (See this previous post for more information.) Democracy is NOT a spectator sport. It takes work, participation, and voters who are paying attention and not believing the lies of wealth-backed candidates like Trump.

American billionaires are already spending big on the 2026 elections. As of March 1, the 50 highest spending billionaire families had already spent over $400 million on 2026 election campaigns. At this rate they will exceed the record for a non-presidential election and spend over $1 billion by election day. Not surprisingly, 80% of this money is going to Republican candidates or groups because Republicans have been the ones at the forefront of pushing policies that favor the wealthy. This is obscene and undemocratic. This is why we have an oligarchy running our government. [2]

Twelve of the top thirteen billionaire families have given money exclusively to Republicans. The Musk family leads the way at $71 million followed by the Yass family at $55 million and the Brockman family at $25 million. The next ten families have given between $10 million and $16 million each with the one Democratic donor at $13 million.

This is why we must change our tax laws to reduce the wealth of billionaires. (See this previous post for specifics.) They are so rich that they can afford to spend essentially unlimited amounts of money to corrupt our democracy to serve their interests, i.e., to make it an oligarchy. High levels of wealth lead inexorably to concentrated political power. [3] As Supreme Court Justice Louis Brandeis wrote almost 100 years ago, “We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.”

Please contact your U.S. Representative and Senators to ask them to support a fairer tax system that taxes wealth and transfers of it. [4]

In addition to the billionaires, special interest groups are also already spending big money on the 2026 elections. Some of these special interest PACs split their money between Republicans and Democrats because they want to buy influence with both parties. A current example is the crypto industry. Its primary PAC, called Fairshake, has already raised $133 million. The vast majority of this comes from two billionaire-backed companies, Ripple and Coinbase. The crypto industry also spent heavily in the 2024 elections and some of the corrupt influence its spending bought is readily apparent. The Trump administration dropped thirteen charges for security law violations against Binance, the largest cryptocurrency exchange and pardoned its billionaire founder. The crypto industry has been pushing Congress, successfully so far, to leave the crypto industry largely unregulated and the beneficiary of tax loopholes.

Billionaires and special interest PACs spend money in Democratic primaries, often to defeat candidates who strongly oppose their policy interests and sometimes to support candidates who support their interests. The crypto industry has done this frequently, as have the AI industry and pro-Israel interests.

This is why my previous post called for the Democratic National Committee (DNC) and state Democratic committees to ban super PAC and dark money (i.e., money where the true donor is unidentified) from their primary elections. A coalition of four Democratic Senators (Merkley [D-OR], Warren [D-MA], Welch [D-VT], and Van Hollen [D-MD]) and Independent Sanders (VT) are pushing Democrats and the DNC to ban money from billionaire- and corporate-backed PACs from Democratic primary elections. They noted in a letter to the DNC that unlimited PAC spending will “distort our elections and drown out the voices of working people.” [5]

For lots of good news, see Jess Craven’s Chop Wood Carry Water blog’s most recent good news Sunday post here.

[1] Johnson, J., 3/25/26, “‘Modern-day royalty’: 50 billionaire families have already pumped over $430 million into midterms,” Common Dreams (https://www.commondreams.org/news/billionaire-spending-2026-midterms)

[2] Americans for Tax Fairness, 3/25/26, “No Kings – No billionaire kingmakers either,” (https://americansfortaxfairness.org/billionaire-kingmakers/)

[3] Bivens, J., 11/17/25, “Raising taxes on the ultrarich,” Economic Policy Institute (https://www.epi.org/publication/raising-taxes-on-the-ultrarich-a-necessary-first-step-to-restore-faith-in-american-democracy-and-the-public-sector/)

[4] You can find contact information for your US Representative at http://www.house.gov/representatives/find/ and for your US Senators at http://www.senate.gov/general/contact_information/senators_cfm.cfm.

[5] Prager, S., 4/27/26, “Bernie Sanders lead Senators in demand to end super PACs in Democratic primaries,” Common Dreams (https://www.commondreams.org/news/sanders-dnc-dark-money)

WHAT DEMOCRATS SHOULD BE DOING

Democrats should be taking steps now to lay the ground work for electoral successes and policy making in the future. Running against Trump is not enough; Democrats need to state what they are for. They should ban super PAC and dark money from their primaries and support progressive policies.

SUMMARY: Democrats should be taking steps now within the national party and at the state level to lay the ground work for electoral successes and for policy making in the future. Running against Trump is not enough; Democrats need to clearly state what they are for. Americans support progressive policy solutions. The Democratic National Committee (DNC) and state committees should ban super PAC and dark money from their primary elections.

(Note: If you find a post too long to read, please just skim the bolded portions. Thanks for reading my blog!)

(Note: Please follow me and get notices of my blog posts on Bluesky at: @jalippitt.bsky.social. Thanks!)

While Democrats have very limited influence on national policy right now, there’s a lot they should be doing now within the national party and at the state level to lay the ground work for electoral successes and for policy making in the future. My previous two series of blog posts on fair taxation and the affordability crisis identified policies that Democrats should be supporting at the national and state level, and enacting now at the state level.

Electorally, running against Trump is not enough; Democrats need to clearly state what they are for. Sure, Trump is a convicted criminal and unpopular, but nobody cares about that if they cannot afford basic needs and they think Trump and the Republicans will address the affordability crisis better than Democrats. That’s what happened in 2024 in a nutshell.

Voters will not believe Democrats are serious about addressing the affordability crisis if they don’t unequivocally embrace progressive remedies, as Senators Warren (D-MA) and Sanders (I-VT) and Representative Ocasio-Cortez (D-NY), among others, have been doing. Opponents, including Democrats, call their policies “too progressive,” which is code for opposition to any policy that favors working Americans over the oligarchs.

The real split among Democrats is between (a) Democrats on the take from the oligarchs of the crypto industry, Big Tech and AI businesses, and Wall Street; and (b) Democrats who are standing up for working Americans and against the oligarchs and their monopolistic companies. It’s that split that deprives Democrats of unity and of a consistent message that resonates with the real frustrations of everyday Americans. Democrats need to acknowledge the failures of our rigged economic system and clearly advocate for structural changes to the status quo that would: [1]

Boost pay including by raising the minimum wage
Build more affordable homes and crack down on corporate landlords
Increase Social Security checks
Provide universal child care
Block price gouging
Strengthen unions
Establish universal health care
Tax the wealthy and giant corporations
Stop members of Congress from buying and selling stock and crypto assets (i.e., insider trading)

For years, polling data have repeatedly shown that Americans support progressive policy solutions to the challenges they face in their daily lives. For example, over 70 percent of Americans support Medicare for All, which would make health insurance more affordable and health care more accessible and less fraught. Seventy percent believe our tax system is unfair, while 66% support universal free child care. More broadly, 66% of Democrats now view socialism favorably, while only 42% view capitalism favorably. [2]

To enact this policy agenda and to get Democrats to unequivocally support it, billionaires must be stopped from buying our elections and our policy making process. A Democratic Party that worries more about offending wealthy donors than enacting policies that support working Americans will not succeed. Democrats should refuse campaign money from organizations and individuals opposed to basic workers’ rights and a strong social safety net.

As a first step, the Democratic National Committee (DNC) and state committees should ban super PAC and dark money (i.e., money where the true donor is unidentified) from their primary elections. Unfortunately, the DNC recently voted for a resolution that simply condemned the influence of dark and corporate money in Democratic primaries. It needs to go further and ban such money, which it can do, given that it sets the rules for its own primary elections. Corporate and Republican-linked super PACs and dark money organizations spent over $200 million in 2024 Democratic primaries. Their goal, sometimes successful, was to defeat progressive Democrats, particularly ones opposing Israel’s genocidal war on the Palestinians. [3] The Israel, crypto, and AI interests have been, and will in 2026, skew Democratic primaries and candidates to ones supporting their interests, which are not the interests of mainstream Democrats and Americans.

A ban on super PACs and dark money would force Democrats to turn to smaller donations from regular people, as Senators Warren (D-MA) and Sanders (I-VT) and New York City Mayor Mamdani have successfully done. This is what democracy, as opposed to oligarchy, looks like.

I encourage you to contact your state and local elected officials, as well as your U.S. Representative and Senators, to ask them to support policies that support working Americans. If any of these officials are Democrats, I urge you to point out that just running against Trump isn’t enough, as we saw in 2024, and that they need to run on what they stand for. [4]

If you’re frustrated that the Democrats aren’t unequivocally supporting working Americans, you might want to look at and perhaps support the Working Families Party. They’ve put forth a platform, their Working Families Guarantee, which is reminiscent of FDR’s economic bill of rights. It includes:

A home you can afford
Healthcare you can rely on
A good job to support your family
Childcare when and where you need it
Paid family and medical leave
Taxing the rich, and
Getting big money out of politics.

For lots of good news, see Jess Craven’s Chop Wood Carry Water blog’s most recent good news Sunday post here.

[1] Warren, E., 1/12/26, “The Democratic Party is at a crossroads,” The Nation (https://www.thenation.com/article/politics/elizabeth-warren-democrats-2026-midterms/)

[2] Meyerson, H., 1/7/26, “The Democratic base is social democratic,” The American Prospect (https://prospect.org/2026/01/07/democratic-base-socialist-democratic-zohran-mamdani-medicare-for-all/)

[3] Wilkins, B., 4/10/26, “DNC half-measures condemning dark money won’t cut it, says Sanders as he demands total ban,” Common Dreams (https://www.commondreams.org/news/bernie-dark-money-ban)

RESIST! OUR DEMOCRACY IS IN DANGER

These are unprecedented and dangerous times for our democracy. Things are worse than I thought they’d be. President Trump and co-President Musk are hard at work attempting a coup to establish a dictatorship. They want to create chaos, fear, and despair, while breaking our government and destroying our democratic institutions. We as citizens of a democracy must take action to resist the coup and the would-be dictators. There are a very wide range of actions you can take. See options below.

(Note: If you find a post too long to read, please just skim the bolded portions. Thanks for reading my blog!)

In November, just after the election, I wrote, “This is a post I never thought I’d write. In January, the United States of America will unequivocally become a plutocratic oligarchy with strong elements of fascism. … we and our country are in for some dark and difficult times. Take care of yourself and nurture the strength for the fights ahead.

I’m not giving up hope or the values and principles I espouse in this blog. Things will get worse, perhaps much worse, before we can turn things around. The fight for democracy has often been hard, and, as I’ve written before, democracy is not a spectator sport.

After a period of mourning and to rest and recuperate from the shock and horror, we all need to get to work fighting for our democracy and the vulnerable members of our society.” (The post is here.)

Well, things are worse than I thought they’d be. I never thought I’d write that there’s a bloodless (so far) coup underway and that our President (and co-President) are hard at work attempting to establish a dictatorship.

Needless to say, these are unprecedented and dangerous times for our democracy. President Trump’s and co-President Musk’s actions have been far more aggressive, far-reaching, and damaging than I think anyone expected. Trump seems to be focused on foreign matters and Musk on domestic ones.

Their goal is clearly to create chaos, fear, and despair. They’re trying to break our government and destroy our democratic institutions. They don’t care about democracy, the rule of law, or anyone but themselves and their cronies.

In the maelstrom of all they’re doing, it’s important to sort the wheat from the chaff and focus on what’s having a crucial, and generally immediate, effect. A lot of what Trump is doing and saying is just hot air and smoke meant to distract from the really important actions.

Right now, I’d urge us to focus on the coup (that is what it is) they’re executing by single-handedly and illegally asserting control over government agencies and spending. We also need to focus on their efforts to destroy the rule of law, which is a cornerstone of democracy and an essential element of their coup.

They’re asserting dictatorial powers over the federal government and its spending, denying any role for Congress. So much for the checks and balances between the legislative and executive branches of government clearly spelled out in the Constitution. (By the way, don’t believe for a second that Trump and Musk have any allegiance to or intent to uphold the Constitution. When Trump swore at his inauguration to uphold the Constitution, that was the first lie of his second term.)

They’re flouting privacy laws by accessing information and data, including your and my personal data, without any authorization. They’re making each of us and our country less safe and secure. With the chaos they have caused at the Department of Justice and the FBI, we are more at risk for everything from ordinary crime to identity theft. Their breaching of sensitive federal government computer systems makes the government and each of us more vulnerable to hackers and cybercrime. The focus of the Secretary of Defense on the Mexican border and purging diversity, equity, inclusion, and transgender individuals from the military has diverted attention from real foreign threats. This makes us more vulnerable to terrorism and foreign attacks of all kinds.

Oh, and by the way, none of their actions have done anything to reduce inflation or bring down the price of groceries. Quite to the contrary, Trump’s spat and threatened tariffs on Columbia have spiked the price of coffee. And the failure and anticipated failure of the CDC to tackle the bird flu, have spiked the price of eggs. Not to mention the impact of tariffs on prices.

We as citizens of a democracy must take action to resist the coup and the would-be dictators. There are a very wide range of actions you can take; there’s something everyone can do, and every little bit helps.

I encourage you to contact your U.S. Representative and your Senators. Urge them to do whatever they can to block the illegal actions and coup by President Trump and co-President Musk. Call if you can (and if their voice mailboxes aren’t full) and try both local and Washington phone numbers. Or email them using their contact forms or email addresses. (You can find contact information for your US Representative at http://www.house.gov/representatives/find/ and for your US Senators at http://www.senate.gov/general/contact_information/senators_cfm.cfm.)

Here are some other ways to protest and resist. I also encourage you to be creative and come up with your own.

Wear a button, a T-shirt with a message, and/or a color symbolic of resistance.
Boycott X (formerly Twitter), Tesla, Amazon, The Washington Post, Facebook, etc. and/or protest in front of stores of companies that are capitulating to Trump.
Communicate. Talk to others, like and share resistance messaging on social media, and/or send letters to the editor of media outlets or submit online comments.
Join the protests in the streets.
Support those protesting and those resisting (e.g., government employees Trump and Musk are trying to fire, lawyers and non-profits filing lawsuits, etc.).
Give financial support to media that are standing up to Trump, to lawyers and organizations who are suing Trump and Musk, and to those organizing protests.
Get organizations you belong to and their leaders to speak out, e.g., religious organizations and clergy.

THE SUPREME COURT IS A THREAT TO OUR DEMOCRACY

Abortion rights activists rally outside of the US Supreme Court after the overturning of Roe Vs. Wade, in Washington, DC, on June 24, 2022. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

Based on the Supreme Court’s decisions of the last few weeks, we should all be in the streets protesting and storming the Supreme Court. Its decisions undermine the Constitution and our system of government, while giving the president king-like status.

(Note: If you find my posts too long to read on occasion, please just skim the bolded portions. Thanks for reading my blog! Special Note: The new, more user-friendly website for my blog is here.)

Based on the Supreme Court’s decisions of the last few weeks, we should all be in the streets protesting and storming the Supreme Court. Their decisions undermine the Constitution and our system of government as it’s worked for over 200 years. I won’t go into the details of the decisions because you’ve probably read or heard about them. I’ll just state that this is a radical, reactionary Court – not a conservative one by any stretch of the imagination. (See this previous post for details.)

The six radical, reactionary justices on the Court totally disregard precedents both in content and procedure to make rulings that are political and ideological, not grounded in law or the Constitution. Their claim of being true to the original text and intent of the Constitution is a blatant lie – a smoke screen for making rulings out of thin air that suit their political purposes. This is judicial activism in the extreme, which conservatives used to decry (and still would if they were true conservatives).

Moreover, the six radical, activist justices stated in their congressional confirmation hearings that they would respect precedents; they would call balls and strikes but not change the rules of the game. It’s now clear they were lying and committing perjury.

With its recent decision on presidential immunity from criminal prosecution, the Court puts the president above the rule of law. The decision exempts the president from the rule of law for all official acts (and probably for many unofficial acts as well). This grants the president king-like status.

This is in blatant contradiction to what the Founding Fathers intended in the Constitution and made clear in their writings. The Constitution does mention immunity – for citizens, for witnesses to crimes, and for legislators in limited cases (for speech or debate in congressional chambers). Clearly, the writers of the Constitution thought carefully about immunity and did NOT grant it to the president. The supposed constitutional originalists on the Supreme Court invented presidential immunity out of thin air, presumably for political reasons.

Historian Heather Cox Richardson has a clear and concise interview (6 mins.) on the immunity issue and has written about it in her Letters from an American blog. Her blog post includes quotes from the confirmation hearings of Justices Roberts, Alito, and Kavanaugh where they stated that no one is above the law. Therefore, they have, very specifically, shown that their congressional testimony was a lie and that they committed perjury.

Retired lawyer Robert Hubbell states that the Court’s presidential immunity decision (and others) by the six radical justices shows that the “Supreme Court is lawless.” The immunity decision “overthrew the American Revolution and anointed the US president as a modern-day king.” He succinctly outlines what the decision does and gives examples of what a president can now do without fear of criminal prosecution, including accept a bribe in exchange for a pardon and direct the Justice Department to target political enemies. With this immunity in place, what President Nixon did during Watergate would presumably have been completely legal. [1]

Moreover, the Supreme Court’s decision leaves it to the courts (i.e., ultimately itself) to decide what are “official” (immune from prosecution) and “unofficial” presidential acts, and also to decide what evidence can be used in a prosecution. Therefore, the Court has arrogated substantial power to itself over the implementation of its presidential immunity ruling – a real power grab.

The hypocrisy of the six radical Supreme Court justices who claim to be constitutional “originalists” is laid bare by their decisions. For example, they have ruled:

For very strong presidential immunity, which is not only nowhere in the Constitution, but contradicts the Constitution and its writers. This ruling’s lack of a constitutional basis is made clear by provisions for other immunities that ARE in the Constitution and by the expressed sentiments of the writers of the Constitution that the president should NOT be above the law and have king-like powers.
Against banning an insurrectionist from the ballot, despite clear language in the Constitution that an insurrectionist cannot hold elected office without 2/3 approval from Congress.

My next post will discuss the Supreme Court’s decimation of the power of executive branch agencies to implement laws and protect workers, consumers, and residents through rules and regulations.

[1] Hubbell, R., 7/2/24, “The Supreme Court is the biggest threat to democracy we face,” Today’s Edition Newsletter (https://roberthubbell.substack.com/p/the-supreme-court-is-the-biggest)