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Billionaires’ popularity in the United States has declined as opposition to their political influence grows: 72% of Americans say the money flowing into politics has exceeded acceptable levels, and 61% believe billionaires have too much influence. Although political ad spending is expected to reach $11.6 billion, the 50 biggest donors and organizations have poured $2.77 billion into the current election cycle, including $1.67 billion linked to Republicans and $832 million to Democrats. Democrats face a dilemma: criticizing the influence of the wealthy while relying on their donations. Meanwhile, support for a California proposal to impose a one-time 5% tax on billionaires’ wealth fell from 52% to 46% in a month.
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