Extreme wealth disparity is the problem. When people can get vastly more rich than everyone else, to the point they can buy entire governments, the system turns from democratic to autocratic.
It’s been a recurring problem in the US for generations, especially since the temptation once a person is elected into federal office (or even high state office) is to forgo fixing the system in favor of getting rich from lobbyist bribes.
So billionaires are the problem?
Extreme wealth disparity is the problem. When people can get vastly more rich than everyone else, to the point they can buy entire governments, the system turns from democratic to autocratic.
It’s been a recurring problem in the US for generations, especially since the temptation once a person is elected into federal office (or even high state office) is to forgo fixing the system in favor of getting rich from lobbyist bribes.