Former Clinton administration Secretary of Labor Robert Reich said Tuesday on MSNBC's “Morning Joe” that democracy cannot survive with “huge wealth in the hands of a few.”
“I think the biggest problem with having so many billionaires at the top of government is that billionaires don't know exactly how ordinary people live, but secondly, and “Perhaps more important is the path people took to get to the top of President Trump.” Government is done by providing large amounts of funds. ”
“According to the latest data I've seen, Elon Musk contributed around $277 million to Trump's election. And in terms of actual net worth since Trump's election, President Trump's net worth increased by $170 billion. That's a pretty good return on investment. And the reason that the return on investment is so high and so many of the other billionaires and millionaires in the Trump administration are making good returns is because they don't have to worry about it anymore. That's because the market assumes that there will be as many tax cuts and Trump as there are regulations and lawsuits. There will also be an extension of the tax cuts, in other words, the campaign will get everything they wanted and bargained for when they poured money into the Trump administration.That's the problem. And many years ago, the great American jurist, Louis Brandeis, As he said at the end of the last Gilded Age, his statement went viral: America has a choice, we can have great wealth in the hands of a few; Otherwise, we can have democracy, but we cannot have both.”
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