Buying The Presidency

Bloomberg has some attractive policy ideas about gun control, the environment, and a more progressive tax. 

But he’s also a champion of Wall Street. He fought against the reforms following the near meltdown of the Street in 2008. His personal fortune is every bit as opaque as Trump’s. Through his dozen years as mayor of New York he refused to disclose his federal taxesEven as a candidate for president, he still hasn’t given a date for their release.

And because he hasn’t taken individual donations, hasn’t appeared on the debate stage, and bases his entire campaign on TV advertising, he isn’t being held accountable for his despicable record on race and criminal justice – the discriminatory stop-and-frisk policy he implemented when he was mayor, or his defense of red-lining.

And, remember, he’s trying to buy the presidency. 

The word “oligarchy” comes from the Greek word oligarkhes, meaning “few to rule or command.” It refers to a government of and by a few exceedingly rich people.

Since 1980, the share of America’s wealth owned by the richest four hundred Americans has quadrupled while the share owned by the entire bottom half of America has declined. 

The richest 130,000 families now own nearly as much as the bottom 90 percent – 117 million families – combined. The three richest Americans own as much as the bottom half. Michael Bloomberg is the eighth richest

Big money inevitably engulfs politics, which is why a handful of extremely rich people like Bloomberg have more influence than any comparable group since the robber barons of the early 20th century. 

Unlike income or wealth, power is a zero-sum game. The more of it at the top, the less of it anywhere else. And as power and wealth have moved to the top, everyone else has become dis-empowered. Today the great divide is not between left and right. It’s between democracy and oligarchy. 

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Don T. Sloan 3 months ago Member's comment

Shame that it seems like our choices these days are between two rich guys who change party affiliation whenever it suits them.

Daniel Charles 3 months ago Member's comment

Is the fact that he can "buy the presidency" such a bad thing? Unlike #Trump who merely got his daddy's money and filed for bankruptcy numerous times, #Bloomberg is a self made man whose success adds to his credentials.

Kurt Benson 3 months ago Member's comment

Every presidential spends millions to try to buy the presidency. The difference is they are then indebted to the special interests groups that funded them. Bloomberg has no such constraints.

Angry Old Lady 3 months ago Member's comment

Speak for yourself. I like Mike.