> There have been no large scale policy changes favoring billionaires since the campaign finance laws changed

Just for anyone else reading this comment, it’s pretty wildly incorrect.

https://www.cbo.gov/publication/61387

https://www.nytimes.com/2025/11/08/business/trump-administra...

> the major corporate money backed candidate lost

Elon Musk spent $290 million to elect Trump. Are you saying that had no impact? How do you know this?

We could argue that there didn't need to be change, because favoring the wealthy was already the policy: Wealth concentration was already at historic highs. Taxes were already very low, including capital gains tax (the primary source of income for the very wealthy - return on capital is the primary income of capitalists), social safety net relatively underfunded including widespread lack of health care, social and economic mobility dropping, access to higher education relied primarily on family wealth and not grades, access to housing dropping, etc. State governments brag about no income tax, which means they rely on regressive taxes to pay for the common good.

Regardless, I think the parent comment facts are wrong and there there have been massive changes benefitting the wealthy: There have been massive tax cuts for them, reduction in enforcement of financial laws (e.g., by the SEC, etc.), lagging financial regulation of private equity, destruction of consumer protection (such as the CFPB), massive changes in policy and action to benefit the fossil fuel industry including use of the US military, ... there was a big tax law change to benefit SV founders that was advocated here on HN, protectionist measures increasing prices for consumers and giving the benefits to corporations, etc.

Citizens United is precisely why we have a majority of politicians following the will of the donor class rather than a majority of actual voters. It’s why we lack universal healthcare, for example, despite 62% of Americans supporting it a year ago, with a similar number supporting raising the minimum wage.

https://www.cambridge.org/core/journals/perspectives-on-poli...

Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence.

Regarding the last national election:

https://www.brennancenter.org/our-work/research-reports/fift...

The Court’s decision and others that followed shaped the 2024 election to a greater degree than any that came before it. Most notably, Donald Trump substantially trailed Kamala Harris in traditional campaign donations, which are subject to legal limits and must be disclosed. Yet he was able to compensate for this disadvantage by outsourcing much of his campaign to super PACs and other outside groups funded by a handful of wealthy donors. While such groups had spent hundreds of millions of dollars on ads in previous cycles, this was the first time they successfully took on many of the other core functions of a general election presidential campaign, such as door-to-door canvassing and get-out-the-vote efforts. Their activities unquestionably would have been illegal before Citizens United.