Pete Buttigieg argues that today's level of wealth inequality is a warning sign for American democracy, not just an economic footnote.

• Buttigieg says capitalism works best as a free market with government guardrails like property rights and anti-monopoly rules.
• He warns that extreme wealth concentration lets rich people and companies buy political power, which then helps them get even richer.
• He points to history, noting republics with inequality this high usually don't survive long as republics.
• He blames money in politics for letting wealthy donors and industries tilt elections toward candidates who protect their interests.
• He criticizes the Trump administration specifically, calling out what he sees as corruption tied to this dynamic.

Outlook: Buttigieg and others on both sides say there's rare appetite to get money out of politics, but past attempts have stalled because neither party wants to disarm first.