Billionaires in Politics: Not the Money, It’s the Power

The wealth of billionaires worldwide increased by $2.2 trillion in 2024, with the ten most richest increasing their wealth by greater than $100 million/day. Chuck Collins, Director of the Program on Inequality and the Common Good at the Institute for Policy Studies, says that “it’s not about the money, it’s about the power” — specifically, the power over elections and policies. That power steals the voices and votes of the population, and blocks policies that could be helping people. More in Collins’ article about the Davos Economic Forum, in his article “World leaders at Davos need to tax millionaires like me. The fate of our planet and democracy depends on it.”

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