Bernie Sanders on U.S. Politics: ‘We Got Our Oligarchy Here Too’
By Jake Beardslee ·
December 15, 2024
Senator Bernie Sanders claims that the United States is rapidly transforming into an oligarchy, where billionaires wield disproportionate power and influence. "We are moving rapidly into an oligarchic form of society. Never before in American history have so few billionaires, so few people, have so much wealth and so much power," Sanders said Friday in an interview with NBC News' "Meet the Press." GREG WOHLFORD/ERIE TIMES-NEWS / USA TODAY NETWORK via Imagn Images
He continued, "Never before has there been so much concentration of ownership, sector after sector, power of Wall Street. And never before in American history - and we better talk about this - have the people on top had so much political power. We can't go around the world saying, ‘Oh, well, you know, in Russia Putin has an oligarchy.’ Well, we got our oligarchy here too." GREG WOHLFORD/ERIE TIMES-NEWS / USA TODAY NETWORK via Imagn Images
Sanders also criticized the growing role of money in U.S. politics, highlighting that in the 2024 elections, just 150 billionaire families spent nearly $2 billion to support their chosen candidates. He expressed concerns about these wealthy individuals' influence over the government, noting in a video posted to X on Friday, that former President Donald Trump rewarded billionaire donors with positions of power during his administration. John Guccione www.advergroup.com / Pexels
According to Newsweek, the billionaires selected for key roles under Trump had a combined wealth exceeding $383 billion—greater than the GDP of 172 countries. Trump, Sanders argued, leveraged his position to enrich himself and his allies, citing millions he allegedly received from foreign governments and federal funds directed to his properties during his presidency. Gary Cosby Jr. / USA TODAY NETWORK via Imagn Images
Trump’s recent proposal to establish a Department of Government Efficiency, possibly led by billionaire Elon Musk and entrepreneur Vivek Ramaswamy, further exemplifies the risks of consolidating power among the ultra-wealthy. Critics, including Sanders and Democratic Senator Chris Murphy, warn that this trajectory places the U.S. on a path to oligarchy. Jasper Colt / USA TODAY NETWORK via Imagn Images
Sen. Murphy explained, "What it means is that a handful of really rich people run the government, and they steal from ordinary people using their access to government in order to make themselves and their families even richer." United States Senate / Wikimedia
