When I heard of this, my thoughts were "I getting real sick of the POOR and the governments listening to them." The problem is the vast uneducated masses who have an entitlement mentality. Gimme gimme gimme! I no longer believe democracy can work in the long run. Too many people need someone to keep them under control like the sheep they are.
The only problem with your argument is that Democracy may be flawed in some ways, but the alternatives are far far worse.