Choosing the People Over the Billionaires

Kamala Harris Makes Gestures Towards Rejecting Big-Money Entreaty

Max Moran | The American Prospect | August 4, 2024

In a recent move, Kamala Harris has shown signs of rejecting big-money interests. This comes as a response to growing public discontent over the increasing wealth gap in the United States.

Over a 12-month period ending in April, a small group of just 53 individuals inherited a staggering $1,508 billion. This has led to widespread criticism of the extreme concentration of wealth in the hands of a few.

Billionaires, despite their immense wealth, often express dissatisfaction due to their desire for even greater accumulation. This, coupled with the fact that 72% of voters believe it is unfair for billionaires to amass such fortunes, has put pressure on politicians to address the issue of wealth inequality.

In response, Bill Gates and Warren Buffett initiated The Giving Pledge, a commitment to donate over half of their wealth over their lifetimes. However, this has been met with skepticism, as some question the sincerity of such pledges.

Despite these efforts, 44% of US adults believe they have the potential to become billionaires. This misguided belief is often fueled by a lack of financial literacy and an unrealistic perception of the challenges involved in wealth acquisition.