Americans are about to experience the political results of our new Gilded Age. After some forty plus years of growing financial inequality–where the gap between the rich and the rest has steadily grown–we have inaugurated a government by and for the obscenely rich.
As Heather Cox Richardson recently noted, Elon Musk is expected to have an office in the Eisenhower Executive Office Building. Musk–who benefits from government contracts worth billions of dollars–will be in an office adjacent to the White House. (Whatever happened to that old-fashioned notion about the necessity of avoiding conflicts of interest?)
It isn’t just Musk. Other members of the world’s richest men’s club flanked Musk on the dais at Trump’s inauguration. They reportedly included Amazon founder Jeff Bezos, and Meta chief executive officer Mark Zuckerberg, who are worth almost a trillion dollars combined, were joined by other obscenely rich panderers: the CEO of OpenAI, Sam Altman; the CEO of the social media platform TikTok, Shou Zi Chew; and the CEO of Google, Sundar Pichai.
During his confirmation hearing, the billionaire nominee Trump has chosen for Treasury Secretary, Scott Bessent, outlined his plans to enrich the rich (and screw over the poor) during his confirmation hearing before the Senate Banking Committee, telling committee members that extending Trump’s tax cuts for the rich would be his highest priority.
Trump has assembled a cabinet notable for the wealth of his nominees (and equally notable for their lack of relevant knowledge and experience), but as the Brookings Institution has recently pointed out, American governance by the rich rather than the competent has grown significantly at all levels.
The linked study documented three major conclusions, of which only the last is at all comforting:
Altogether, across four election cycles from 2018 to 2024 there were 183 candidates who contributed more than $1 million of personal money to their campaigns.
Republicans constituted 68% of all candidates contributing more than a million to their campaigns.
Most rich people who spend personal money on campaigns lose.
The study’s introductory paragraph asked the pertinent question.
The richest man in the world now sits close to the President elect and uses his powerful social media platform, X, to opine on everything from daylight savings time to visas for skilled workers. As the new administration takes shape, the number of multi-millionaires and billionaires moving to Washington grows. While this is good for Washington area real estate agents, is it good for democracy? Will someone who earns $14 million per day be able to appreciate how important $1,976.00 (the average monthly social security payment) is to millions of Americans?
The obvious answer to the question posed by that last sentence is no. The Brookings article cited a previous study that looked at the political priorities of the rich.
In 2013, three political scientists studied the political views of over 100 rich Americans, whose median wealth was $7,500,000.00. They found large differences between the policy preferences of the rich compared to average Americans.
Ya think?
Every so often, I cite a musical lyric that seems (at least to me) to illuminate a current political issue. Here’s one: the flower girl in My Fair Lady sings that all she wants is a “room somewhere, far away from the cold night air”–somewhere where she can have “warm hands, warm face, warm feet.” There are far too many Americans who fall into that category–people struggling every day to find lodging or keep the heat on and the car running and the baby fed.
I’ll go out on a limb here and suggest that Elon Musk and his fellow billionaires have absolutely no understanding of those struggles, no comprehension of the choices facing millions of America’s working poor–and rather clearly, no sympathy for them.
There are certainly wealthy individuals who do understand that their own ability to thrive depends upon a government that supports an economically stable middle class–who understand that job creation depends upon the existence of a public with enough disposable income to buy their widgets, rather than on the whim of an “entrepreneur” waving a magic wand. Those individuals didn’t share the dias with the fat-cat, self-satisfied billionaires who will have effective control of America’s government and who are interested only in amassing greater wealth and power. Trump’s billionaire toadies have evidenced zero understanding of the purpose of government and no interest whatsoever in the notion of the common good.
President Eisenhower warned us about the military-industrial complex, and he was right. President Biden warned us about the coming oligarchy, and he was also right.
Between the White Christian Nationalists and the oligarchs, the next few years will be…challenging. To say the least.
And yet the politicians tremble in their boots at being primaried (sic) for the high crime of governing. Why are they so worried about some boob being put up against them sponsored by a billionaire … or two … or three? Don’t they have a record to stand on? Are there constituents who actually vote so shallow that they will just follow the next bright, shiny object? Is that how it works now?
After seeing all but three Republican Senators vote in favor of another Trump idiot for SecDef, it’s clear that these spineless wretches actually do fear “retribution” either at the ballot box, or by another wasteful “investigation” by their own colleagues?
If this situation weren’t so pathetic, it would be low comedy.
OOPS. “Are their constituents who actually vote …”
Noting your concerns! Prayers we keep these rich oligarch people in check.
70% of the budget is mandatorily owed back to the people it borrowed from.
I believe they may be competent for the most part, not sure their competency is geared to more than outsmarting the governments demands on them, that beyond business operations and creating strong economies.
Here’s what we can all agree on. Trump has taken over the entire Federal Government. Democrats are all but irrelevant.
The question for those who voted for this massive change is: What now? What do you believe the next four years and the future decades will be like because O.5% more of the American public voted for MTV than Harris/Waltz? IOWs, what do you expect your voting legacy to be?
You can send your letter of support to Bishop Mariann Edgar Budde at the Episcopal Diocese of Washington. Here’s the address:
Bishop Mariann Edgar Budde
Episcopal Diocese of Washington
Mount Saint Alban
Washington, DC 20016
Bishop Budde, in addition to confronting President Trump in public at the National Cathedral, has been vocal about her stance on various social issues, and your support would likely be appreciated.
Just add Musk to those who have the ear of the establishment. This isn’t exclusive to Republicans.
Raytheon,Dyncorp et al.
The Gilded Age 2.0 has been coming for a very long time. Please don’t accept Biden’s warning, which is just a performative statement for the press. The Democratic Party could have broken up the entire social media platforms to make them more open-source and controlled by the people, but the intelligence and surveillance community wouldn’t allow it. If you haven’t noticed, what’s illegal for the government to do is allowed by private corporations.
And where do all the billions paid into political races go?
The money doesn’t enter the free press or independent media; it goes to the oligarchy-owned media. LOL
Pete Hegseth was the measuring stick for me. Pete would be turned down by any employer that did a basic background check. He’s an alcoholic and a rapist – a woman abuser! Yet, somehow, the senate voted 50-50 for him, so Vance broke the tie. Talk about performative and dramatic!! Btw, both Banks and Young supported Hegseth.
The Hegseth confirmation was worse than Tulsi Gabbard flip-flopping on her support for spying on US citizens. She was told if she continued to support killing FISA that, she would never be confirmed. She went to an obscure media outlet to announce that she changed her mind, so all is well. Now, why would all our politicians support spying on the American people – voters?
The political class is a f’ing joke and has been for decades. Biden made the top billionaires even more prosperous with his trickle-down economics while telling the media that T-D didn’t work and hasn’t worked for decades. LOL
If you haven’t heard of Cassidy Hutchison, I strongly encourage you to check out this link. The title of the article says it all: “Republicans Scared to Call Jan. 6 Witness After Sending Sexual Texts.” LOLOLOLOL
https://newrepublic.com/post/190619/republicans-january-6-witness-cassidy-hutchinson-sexual-messages
Todd. What do you suggest we do about it?
I gripe ad nauseam about the complete and willful disconnect and disregard of the wealthy. They have so much money that they can’t imagine anyone *not* having lots of money, especially those who had huge inheritances dropped in their laps, e.g. President Musk and the First Laddy. They don’t need more, they just want more, want it all, because it’s just a power game for them. And if the rest of us struggle, it must be because we’re not playing the game right.
As for Vernon’s question: Yes, those constituents are so shallow that they will go for the next shiny object. The republican spent its first term telling lies and making promises it had no intention of keeping. Yet they seemingly thought it was sincere this time.
As “The Other Sheila” essentially said: “Oh, shiny, my, my must be sooo goooood!” Friging idiots!
I have a MAGA cousin with whom I’ve been in some bit of a discussion. She told me that Trump has done some “wonderful” things since back in office! I cited some of the best, like pardoning his Brown Shirts and the founder of the Silk Road!
All’s quiet on that front, now.
I’m waiting for one of our oligarchs to follow the example of one of history’s most famous clueless rich people. The first one to utter a “let them eat cake” statement should face severe consequences. I’m not proposing that they face the same fate that Marie Antoinette did, (tempting as that may be) but could we at least boycott whatever they are selling?
Now that free speech is absolute in social media, we can feel free to call out people like Zuckerberg, who wants Facebook (FB) to have more masculinity. It’s Zuckerberg who needs to grow a pair, not FB.
Wackamo. Wackamo. Wackamo. Does not move the needle one bit. There are those with advanced degrees we know and love who believe Trump is the best thing since Lady Godiva. Wackamo! They just pop up somewhere else. Wackamo! Tylenol anyone?
I just watched the other day a video starring Bernie Sanders talking about it being an Oligarchy here in the U.S. To be honest, when Bernie was running I did give support towards his campaign and was disappointed when he went out of the race. He’s not afraid to speak the truth and hold people’s feet to the fire. I wasn’t excited to vote for Kamala but anything was better than Trump. I was reading the MAGA folks get incensed anytime you take on Trump and take it as a personal attack against them. I’m not trying to attack anybody. I’m just trying to elect or help the many people that I feel have the best interests of the country at heart. People that care about everyone and don’t seem like ultra rich people just trying to line their pockets and gain power over the rest of us.
Sharon,
I’m not here to recommend actions you should take. Each individual has to make that call. Many people are begging the Democratic Party to take action and send them money, but as I’ve pointed out a thousand times, the uniparty’s role is to give you the appearance of choice. How often will you walk in front of the bus, hoping it won’t hit you this time?
Even George Carlin knew the score of the “big club.” LOL
Europe and the US media laughed at Trump’s comment about annexing Greenland. None of them, including Denmark’s PM, is laughing now. Biden and the MIC drained European resources via NATO and the EU. Europe is extremely weak right now, and Trump knows it. So does Putin. 😉
We are primarily powerless except for our local city, county, and state governments. Trump’s administration will kick back many items to the state, so Braun/Beckwith will feel a boost in their power. There will be plenty to protest soon…
It’s a heartbreak. I grew up thinking that America was the place that cared about all people – not perfectly, but working on that. Right now, it’s an extreme opposite in the government and one has to wonder what the world is thinking of us, too. It’s all so sad to try to comprehend the lives that will be lost, and to know that the people in charge don’t care. They care only for their power and money. I would not want to die with that reputation on my soul. Let’s work together, America, and make things better for all!
Todd. Ah, but you do recommend actions. You recommended we vote for RFK jr. You recommended we not support the Democrats. I just want to point out to other readers of this blog that the recommendations you have suggested make no sense and to reiterate my warning to them that you incite fear and hatred and despair. You are part of the problem without being any part of the solution.
Sharon,
Yes, you’re the jaywalker who’s broken their arms and legs and keeps walking in front of the bus. Einstein called it insanity. Send ActBlue all your money as well. You’ll be proactive that way. LOL
When did I say vote for RFK Jr? He wasn’t even on the ballot. I was done with him once he sold out to Israel and supported genocide.
And the only hatred I instill is that toward the oligarchy which owns you. If you can’t see that now, you are more dimwitted than I thought!
Todd, you were a strong supporter of Robert Kennedy on this blog. You claimed the Dems were being unfair to him.
If you voted you had the opportunity to vote for Kennedy. He was on the ballot in Indiana and earned 1% of the vote.
I take issue with your incessant name-calling. Agree to disagree.
Here’s the hidden problem of the 2017 tax cuts. The laws cut the taxes on the rich, but they also cut the taxes on the poor. Of course, the persons who pay more taxes (the rich) get a larger benefit per capita than the poor. That’s the nature of a progressive tax system. So here’s the big riddle with a simple answer. If everyone pays less tax, who picks up the check? Answer: future generations.
So watch the elected representatives biotch and moan about the deficit while they lavish praise on themselves for creating it with tax cuts.