Report: The Club for Billionaires

The Club for Growth is one of the biggest super PACs backing MAGA Republican candidates. It's already spent over $47 MILLION this election cycle.

According to a new report from Americans for Tax Fairness, the Club for Growth is one of the biggest super PACs backing MAGA Republican candidates, and it's already spent over $47 MILLION this election cycle.

Most of that money is coming from just 7 billionaires. What do they want? To keep paying little or no federal income taxes.

Club for Growth isn't quiet about its priorities. Its website lists their policy goals:

✅ reducing income tax rates, repealing the estate tax
✅ replacing the current tax code with a flat tax
✅ full repeal of the Affordable Care Act

Billionaires stand to gain a lot under that platform.

Club for Growth was one of the first advocacy groups to take advantage of Citizens United to raise unlimited funds from the wealthy and corporations. So it's no wonder that since then they've collected $117 MILLION from 11 billionaires.

These billionaires are looking for a return on their investment.

Richard Uihlein got a 1-year $43.5 million tax cut from just one loophole in the Club for Growth-backed Trump-GOP tax scam. That loophole keeps giving every year. If Club for Growth succeeded in repealing the Affordable Care Act, Jeffrey Yass could have cut his taxes by $49 million a year.

The Club for Growth has been known to back MAGA-type candidates in an effort to secure their anti-tax policy goals, from Lauren Boebert to Ted Cruz.

This year, they've invested in at least 14 federal primary races. Their candidates have won 11 of those primaries.

Their biggest spending this cycle has been in NC, where they spent $14 million to ensure Ted Budd won the Senate primary. That’s 2.5x more than Budd’s own campaign spent. Budd is a staunch champion for the interests of the ultra-wealthy, having voted with Club for Growth's priorities 98% of the time.

Other Club for Growth Senate primary winners include Blake Masters in Arizona ($2.2 million) and Adam Laxalt in Nevada ($3.2 million). One of Masters' biggest billionaire backers, his former employer Peter Thiel, is also the sixth biggest lifetime donor to Club for Growth.

The Club’s spending is so pervasive in some of these races that it practically amounts to buying the election. This is why 66% of voters don't believe billionaires should be allowed to contribute unlimited amounts to political campaigns. 

How about instead of buying elections, billionaires start paying their fair share in taxes? Billionaires using their outsized, untaxed wealth to further rig the system is just more proof that we need a Billionaire Minimum Income Tax in this country.