Part 5/9:
Corruption and Loopholes: The financial system is perceived as designed to protect the wealthy. The 2008 financial crisis witnessed banks making reckless decisions that led to widespread economic ruin, followed by government bailouts using taxpayer money. Additionally, many of the richest individuals utilize strategies to minimize their tax liabilities, such as offshore accounts and complex financial practices.
Monopoly Power: A staggering 18% of billionaire wealth arises from monopolistic practices. Dominance over industries allows billionaires to set prices and dictate market dynamics without the presence of competition, further entrenching their wealth and influence.