Biden warns against rising concentration of power

Washington

US President Joe Biden in his farewell address from the Oval Office on Thursday, expressed deep concerns over the growing concentration of wealth and power in the hands of a few, warning it could lead to an “oligarchy” and undermine democracy. He urged that the wealthiest individuals pay their fair share of taxes, echoing past efforts to curb the influence of powerful elites and ensure fairness for workers.

Biden highlighted the potential dangers of a “tech-industrial complex,” comparing it to the military-industrial complex warned about by President Dwight D. Eisenhower. He raised alarms about the unchecked growth of technology, particularly Artificial Intelligence (AI), which he acknowledged could transform society but cautioned that without proper safeguards, it could jeopardize privacy, rights, and security. He called for the US to lead in AI development, rather than China.

The outgoing president also criticized the rise of misinformation and the decline of the free press, noting that these issues contribute to the abuse of power. He called for significant reforms, including changes to the tax code, eliminating “dark money” from politics, and imposing term limits on the Supreme Court.

Achievements of Joe Biden's Term

·        American Rescue Plan (2021): Passed $1.9 trillion COVID-19 relief package.

·        Infra Investment and Jobs Act (2021): Secured $1.2 trillion infrastructure investment.

·        Inflation Reduction Act (2022): Enacted climate, healthcare, and tax reform legislation.

·        COVID-19 Vaccination Campaign: Distributed vaccines and achieved widespread s coverage.

·        Supreme Court Appointments: Appointed first Black woman, Ketanji Brown Jackson.