The track record of humanity's decision making indicates that your statement is not accurate for a significant portion of the population.
Does that also apply to "democratic" processes?
Should only "accredited citizens" have the right to vote?
Having to pass a test to demonstrate you understand the policy choices and how they affect you could be a good idea if done impartially.
But to the point, categorical denial of access to a participatory space -- here based on your bank balance -- is akin to denying voting rights based on gender or color.