A lot has been said about the US turning into an Oligarchy, but it also looks like a Plutocracy. An Oligarchy is when a few wealthy people control each industry and an Authoritarian dictator controls the Oligarchs. A plutocracy is when a group of wealthy people control the Government that controls everyone.
Since we have reached unprecedented levels of wealth inequality, there are now over 600 billionaires and the top 20 are worth over a hundred billion. Since campaign finance laws have been changed to allow the wealthy unlimited political contributions, Congress does not represent the General Public anymore. That is why taxes and business law have been changed to further favor the wealthy. It is why we have no AI/5G safety laws and mass surveillance via unconstitutional laws like FISA/CISA/sec230. It is why both new/old Congressional candidates only represent the wealthy, silicon valley and the monopolies. It is why social media is a wasteland. It is why the middle class has stagnated while the rich have gotten richer. It is why complaining to the Government is a waste of time.
Teddy Roosevelt described Plutocracy as the worst form of Government on earth. He was correct.
The way it changed 100 years ago was only after there was significant upheaval to the corrupt wealthiest which left them no other choice but to reform. Let’s hope it gets fixed sooner than later.
Leave a Reply