Defunding the oligarchy cannot remain a rallying cry alone. This urgent call to action highlights a critical juncture in American democracy, where the concentration of wealth and political influence threatens the very foundations of governance. As the nation grapples with rising costs and systemic inequities, the need to transition from mere rhetoric to tangible policy measures has never been more pressing.
The Billionaire Windfall Under Trump's Presidency
Donald Trump's presidency has ushered in an era where billionaires have reaped unprecedented benefits, while everyday Americans face mounting hardships. Despite campaign promises to lower costs, the reality has been a stark contrast, with the administration enriching a select few at the expense of the many. This dynamic has effectively turned the White House into a slush fund, where public resources are diverted to serve private interests.
Financial Gains and Political Investments
Since securing the Republican nomination, Trump's personal fortune has nearly tripled, soaring from $2.3 billion to over $6 billion. This surge is largely attributed to crypto and licensing deals, which present fertile ground for corruption and influence peddling. Meanwhile, his billionaire donors have seen astronomical returns on their political investments.
Fossil fuel magnates, including Harold Hamm and Kelcy Warren, invested a collective $443 million in electing Trump and Maga Republicans. In return, they are now collecting $153 billion in subsidies, tax breaks, and royalty giveaways—a staggering 34,437% return on investment. This exemplifies how oligarchy functions as an investment portfolio, with government power guaranteeing extraordinary profits for those who buy political sway.
Tech Titans and Corporate Profiteering
Big tech companies have fared even better, spending at least $72 million to curry favor with the Trump administration. CEOs such as Mark Zuckerberg, Jeff Bezos, and Sam Altman have witnessed their combined net worth increase by $494 billion over the past year. This windfall is driven by deregulation and an artificial intelligence boom, which critics argue poisons communities and eliminates jobs, yielding a 686,000% return on investment.
The Human Cost of Oligarchic Control
The price of this corruption extends beyond financial metrics, eroding public trust in government and exploiting vulnerable populations. Private prison and deportation firms, including GEO Group and CoreCivic, spent over $5 million backing Trump and GOP candidates in 2024. They now stand to reap more than $5 billion annually from expanded ICE and DHS contracts, with some companies' revenues doubling and deportation flight budgets multiplying sixfold.
This translates to an 11,000% return on investment, funded by public money that trades human misery for profit. Similarly, Peter Thiel's Palantir has seen its stock price quadruple since Trump's re-election, with its technology enabling mass raids that prioritize enforcement over human dignity.
Corruption and Influence Peddling
The presidency has morphed into a marketplace where foreign governments, corporations, and billionaires can purchase influence outright. Instances include Qatar gifting Trump a $400 million private jet and billionaire crypto entrepreneur Justin Sun investing $75 million in a Trump-family-owned business, only to have SEC charges against him dropped. Such actions undermine democratic principles, reducing governance to a transactional arena.
Transforming Slogans into Governing Standards
To combat this, defunding the oligarchy must evolve from a rallying cry into a concrete governing standard. This involves:
- Ending taxpayer subsidies and contracts for companies that exploit workers, pollute communities, or bankroll political influence.
- Confronting monopoly power that allows billionaire-controlled firms to dominate entire economic sectors.
- Redirecting public resources to meet the needs of the working class, such as affordable healthcare, housing, and education.
Democratic Safeguards and Economic Reforms
Democracy cannot survive if economic power remains concentrated in the hands of a few. Rebuilding strong unions, protecting collective bargaining, and breaking up monopolies are not merely economic reforms—they are essential democratic safeguards. A society where workers and communities have real leverage ensures that government answers to voters, not donors.
Key steps include taxing extreme wealth, closing loopholes that enable tax avoidance, and reforming a campaign finance system that treats money as speech. Elections must belong to the people, not oligarchs, to restore faith in democratic institutions.
The Path Forward for Democrats
Democrats face a clear choice: continue warning about oligarchy while leaving its structures intact, or adopt an opposition rooted in anti-corruption, public investment, and accountability. Supporting initiatives like the Defund the Oligarchy resolution can serve as a starting point, calling on Congress to:
- End corporate tax breaks, subsidies, and federal contracts for billionaire-backed companies.
- Redirect public resources toward essentials like healthcare, housing, and education.
- Restore trust by rebalancing an economy rigged against working people for decades.
This fight is pivotal for our time. Oligarchs and authoritarians bet on public acquiescence, but proactive measures can dismantle their grip. It is time to defund the oligarchs, fund the people, and restore democracy to those it was meant to serve.
