The country’s 900 billionaires have far too much influence over our government and economy. Here’s how we can reduce the power of the ultra-rich
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ot a day goes by without some news about billionaires throwing their weight around to bend the system in their favor or about politicians giving them tax cuts, government contracts or pardons. In today’s new Gilded Age, the 900-plus billionaires in the US have far too much influence over our elections, our economy, our government policies and our news media, and it’s urgent for Americans to create a movement to curb their power in order to preserve what’s left of our democracy and assure we have an economy with some basic fairness.
It’s deeply troubling that billionaires have far more power in shaping our nation’s politics and policies than do average Americans, whether they’re auto workers, teachers, nurses, carpenters or supermarket cashiers. What’s more, it’s deeply disturbing that so many billionaires support the most authoritarian president in US history, whether by donating to his campaign or his gilded ballroom.
Eleven billionaires with a combined worth of $1.35tn attended Donald Trump’s second inauguration or surrounding events. Skydance – a company controlled by David Ellison and backed by his father Larry Ellison, the world’s sixth-richest person – just clinched a $110bn deal to buy Warner Brothers, and they’ll no doubt make Warner-owned CNN far friendlier toward Trump, just as they have done with CBS News.
