Since people began using money around the 7th century B.C., it has influenced positions of power. That is especially true here in the U.S. Consider that the first president, George Washington, had a net worth of about $600 million when adjusted to its present value. Other wealthy presidents include Thomas Jefferson, Theodore Roosevelt, Andrew Jackson, and Donald Trump. While estimates of Trump’s net worth vary, Forbes last month put it at $5.8 billion.
During the 2024 presidential election, donors for the main contenders spent nearly as much as Trump’s net worth, close to $5.5 billion. Now President Trump is surrounding himself with fellow billionaires. His Cabinet is estimated to have a net worth of $10 billion. Department of Government Efficiency head Elon Musk is the wealthiest individual on the planet, and Trump’s ties to the ultra-rich are evident in nearly everything he does and seemingly values.
American Promise
The cross-partisan organization American Promise is working to bring together Americans from all political parties to pass and ratify an amendment to the U.S. Constitution to help turn the tide away from plutocracy and back to democracy. It promises to restore reasonable limits on money in political campaigns and elections. The amendment would empower the states and Congress to set limits on such spending.
The American Promise team, including San Francisco-based Advisory Council member Elizabeth Doty (the Founder of Leadership Momentum), holds: “When the decisions that affect our lives are determined by a powerful few, making rules that do not serve us, our families, our communities, or our nation—we are not free. We are here to restore the American promise of self-determination, opportunity, and the ability to create a better future for all.”
For Our Freedom Amendment
The text of the amendment is as follows:
Section 1. We the People have compelling sovereign interests in the freedom of speech, representative self-government, federalism, the integrity of the electoral process, and the political equality of natural persons.
Section 2. Nothing in this Constitution shall be construed to forbid Congress or the States, within their respective jurisdictions, from reasonably regulating and limiting contributions and spending in campaigns, elections, or ballot measures.
Section 3. Congress and the States shall have the power to implement and enforce this article by appropriate legislation and may distinguish between natural persons and artificial entities, including by prohibiting artificial entities from raising and spending money in campaigns, elections, or ballot measures.
Get Involved
The effort led by American Promise continues to grow, both in size and momentum. There are multiple ways that individuals can get involved, from signing a pledge, to volunteering, participating in the organization’s events, joining one of the established networks, and much more.
Check out the American Promise website: https://americanpromise.net/
From Democracy to Plutocracy
Published on March 13, 2025
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