EDITORIAL: American oligarchy is officially here

Trump's second term marks the rise of a government of the wealthy, by the wealthy, and for the wealthy

As we stand on the precipice of a second Donald Trump presidency, it's impossible to ignore the looming specter of oligarchy, kleptocracy, and kakistocracy taking root in American politics. If Trump’s first term was a swampy cesspool of corruption and self-dealing, his second term promises something far more dangerous. It won’t just be a government of the rich; it will be one where the ultra-wealthy are not merely influential but in control.

The rhetoric around draining the swamp was central to Trump’s first campaign. However, upon taking office, Trump didn’t drain the swamp; he turned it into a private country club for the rich. Billionaires like those in Trump’s inner circle now hold power directly in the government. They no longer need to buy influence; they are the influence. The revolving door between government and corporate America has never spun faster or more brazenly.

Trump’s cabinet appointments are telling. A dozen members are billionaires, and 26 others are worth over $100 million. Together, they control a staggering amount of wealth — half a trillion dollars or more. This concentration of wealth is not just a symbol of influence; it is the very power structure of the government. These individuals are actively dismantling public systems, reducing regulations, and rewriting the tax code to benefit only the wealthiest.

Trump’s government won’t just be an oligarchy, though. It will also be a kleptocracy, where the wealthy use their power to loot the public system. Trump himself has shown time and again that his loyalty lies with those who enrich him. His media company, despite losing money, retains a multi-billion-dollar valuation, thanks to the money funneled from his supporters. This is national-scale grifting — an entire system built around elevating the rich while the public is left to foot the bill.

But beyond the wealth and self-serving behavior, there is something even more dangerous at play: a kakistocracy. This is a government run by the least qualified individuals, with no experience or merit, but with vast wealth. People like Linda McMahon, a former wrestling promoter turned Secretary of Education, and Elon Musk, a tech billionaire with no governance experience, are now calling the shots.

The global impact of this system is already being felt. Trump's "America First" rhetoric is alienating traditional allies and isolating the United States. While the billionaires benefit, the U.S. risks being excluded from key international partnerships and discussions. The short-term gains for the ultra-rich may backfire in the long run, leaving the country more isolated and less stable.

This system of government is not new. We’ve seen it before in post-Soviet Russia, where oligarchs backed Boris Yeltsin to protect their wealth and pillage state assets. In Trump's America, the billionaires don’t just back the regime; they run it. Like Putin’s Russia, Trump’s administration will operate with no clear rules, creating a chaotic environment where everyone scrambles to enrich themselves, often at the expense of the country’s stability.

So, what can we do? First, we must call this regime for what it is. We need to expose it as a government of the wealthy, by the wealthy, and for the wealthy. We must continue to organize and make our voices heard in opposition. This fight is not just political — it is about the future of America. If we allow this oligarchy, kleptocracy, and kakistocracy to take hold, we will lose our democracy to a small group of billionaires who care only for their own enrichment.

This is a fight we cannot afford to lose. We must resist the rise of a government that celebrates wealth above all else, that loots the system for personal gain, and that puts the unqualified in positions of power. We must ensure that the United States remains a government of the people, by the people, for the people — not one controlled by a wealthy elite.