The ability of the 1 percent to buy politicians and regulators is nothing new in American politics - just as inequality has been a permanent part of our economic system. This is true of virtually all political and economic systems.
The consequences of President Johnson's campaign of deliberate deception regarding Vietnam could hardly have been more catastrophic for the nation, the military, the president, his party, and the presidency itself.
Half the U.S. population owns barely 2 percent of its wealth, putting the United States near Rwanda and Uganda and below such nations as pre-Arab Spring Tunisia and Egypt when measured by degrees of income inequality.
Few progressives would take issue with the argument that, significant accomplishments notwithstanding, the Obama presidency has been a big disappointment.
As a parent and a citizen, I'll take a Bill Gates (or Warren Buffett) over Steve Jobs every time. If we must have billionaires, better they should ignore Jobs's example and instead embrace the morality and wisdom of the great industrialist-philanthropist Andrew Carnegie.