A billionaire owns too much wealth to be trusted to make the decision for the average person.
I have problems with this train of thought. It seems to assume that people who have been inordinately successful (which is what we are using the term “billionaire” for now, these days) cannot promote social policy for the other members of society. I find this POV odd, considering the most noted advocates of social welfare in the 20th century were from this “inordinately successful” class of people. FDR was raised, essentially, as what we today (after inflation) would call a “billionaire”; then you have John Kennedy, Ted Kennedy, and Lyndon Johnson. Remove those “billionaires” from the 20th century, and you have a nation with no Social Security, Medicare, CHIPs, food stamps, Medicaid, and the like.
So, let’s put this idea that a very rich person shouldn’t be president to bed. It’s not only undemocratic, it rejects the lesson of history, which is that many people who are freed from the daily worry about money become MORE in tune with the struggles of those who still have those worries.
If it came to a tax cut for him/herself or a tax cut for the poor, which would a billionaire take? We’ve already seen Trump’s choice.
Have we? Trump killed (or vastly limited) the three biggest tax loopholes of the rich person — — the state and local tax deduction, the property tax deduction, and the mortgage interest deduction. Hopefully, those three nasties are gone forever from our tax code (although we do have Democrat candidates threatening to put them back in).
Yes, Trump inadvisably, in the same bill, lowered the top tax rate to 35%, offsetting the loss of those deductions. But overall, 65% of Americans received an appreciable tax decrease under his plan, 6% an appreciable tax INCREASE, and the rest stayed about the same.
When it comes to Bloomberg’s potential presidency — absolutely not.
Well, who, then? Bloomberg would pull in a lot of the voters who are personally disgusted by Trump’s behavior but would never vote for a person like Sanders (even if the DNC were to give him the nomination, which they won’t. )
So, If you X those two guys out….you’re left with Buttegeig or Biden vs Trump. Good luck with that.