Musk, money and political influence

Elon Musk, the world’s richest person, stands out for what is wrong with our political system. He poured tens of millions of dollars into helping Donald Trump, meaning he bought more political speech than tens of millions of ordinary people combined. He offered a $1 million daily lottery for those who supported what he wanted. And he spent $44 billion to buy Twitter, now called X, which he used to promote his political views and Donald Trump.

Musk has been appointed by Donald Trump to a position to make government more efficient. Musk has billions of dollars in federal contracts for missiles and satellites. This is a clear conflict of interest, going beyond the favoritism that accompanies large contributions.

Do we want self-interested billionaires to have such a hugely outsized influence on our political system?

Likewise, the cryptocurrency industry spent $130 million in the election, including a $40 million late blitz to help defeat Ohio Sen. Sherrod Brown. The industry has a long track record of fraud, scams and consumer harm.

At the heart of our gross inequities is the Supreme Court’s 5 to 4, precedent-overturning, 2010 Citizens United decision which permitted unlimited contributions. The five justices in the majority were appointed by Republican presidents.

Considering how huge contributions from billionaires and corporations dominate political speech, it is not surprising that they so often get their way on personal and corporate taxation, labor law and its enforcement, minimum wages, world trade, regulations and a host of other issues, often to the disadvantage of ordinary people.

Public funding of election campaigns, which is working well at state, county and city levels, would democratize political speech and help make our system work for everyone.

Richard Barsanti

Western Springs