philforest - your scenario isn't democracy, it's corruption. I can name at least a dozen third world countries where your method of enticing voters (or, even better, 'I'll break your kneecaps if you don't vote for my guy') has resulted in incompetent government & economic ruin. If the richest guy were to win, would you really want Bill Gates & his cronies running the country?
No, I believe in old-fashioned democracy, where you vote where your heart & your conscience tell you to.