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Billionaires probably have better ideas on what to do with all that money than any democratic institution would.
But also anything except capitalism—where all the power is systematically concentrated to the hands of the already wealthy and everyone else conforms out of fear of becoming homeless and starving to death—is antidemocratic and hateful toward the free will of individuals because reasons.
Clearly everyone is wrong and stupid and the enlightened centrists should work to end the human species.