By John Q. Hosedrinker 
Since the election, the wealth of the world’s billionaires, many of whom supported President-elect Trump, has reached record highs, exacerbating existing wealth inequality. This surge in billionaire wealth is fueled by policies favoring the ultra-rich, including massive tax cuts and deregulation, further widening the gap between the wealthiest and the rest of the population. This trend, spanning decades of bipartisan policy choices, has solidified an oligarchy’s control over the political and economic landscape. A critical juncture is approaching, demanding a shift towards policies that prioritize working-class interests and dismantle the power of corporate monopolies. Only a fundamental change in economic policy can counter this concentration of wealth and power.
Read the original article here
A second Trump term portends a catastrophic surge in inequality. This isn’t a sudden development; it’s the culmination of a long, bipartisan acceptance of oligarchy within our political system. The ultra-wealthy, already immensely rich, are poised to accumulate even more, leaving the majority further behind.
The current trajectory reveals a society increasingly fractured along economic lines. This chasm isn’t merely a consequence of Trump’s policies; he’s a symptom of a deeper, long-standing problem. Decades of widening inequality have fostered a climate ripe for extremist politics, with Trump serving as the ultimate expression of this trend. The warnings have been plentiful – from the WTO protests to the Occupy movement, progressive voices have been sounding the alarm for years, only to be largely ignored.
The very notion of a “bipartisan embrace of oligarchy” may seem counterintuitive, but a closer look reveals a disturbing convergence of interests across the political spectrum. Both parties have, in different ways, accommodated the desires of the ultra-rich, resulting in policies that benefit the few at the expense of the many. The consequences have been predictable: an ever-increasing concentration of wealth and power in the hands of a select few.
The fantasy of upward mobility, once a cornerstone of the American Dream, is increasingly out of reach for most. The system, rigged in favor of the wealthy, offers little hope for those struggling to make ends meet. This isn’t simply about money; it’s about power. Economic inequality translates directly into political inequality, silencing the voices of those without the means to influence the system.
This stark reality threatens not only democracy, but also the very fabric of society. When the gap between the rich and poor becomes too vast, the potential for social unrest intensifies. The current system is unsustainable, and the consequences of inaction are potentially dire.
Furthermore, the inherent flaws in the system are amplified under a Trump presidency. His policies are predicted to further concentrate wealth at the top, leaving the majority to bear the brunt of economic hardship. The consequences of this could be devastating, potentially leading to social upheaval and a further erosion of democratic principles. The warning signs are already apparent: increased political polarization, rising social unrest and a declining faith in institutions.
The situation is made more critical by the structural issues embedded in the economic system. Exorbitant inheritance laws allow wealth to be passed down through generations, perpetuating inequality. The failure to adequately address these structural issues only exacerbates the existing imbalances. Addressing this requires more than just incremental reforms; it demands a fundamental restructuring of the system to ensure fairness and opportunity for all.
The current state of affairs presents a critical juncture. Failure to address the root causes of inequality will lead to a further deterioration of society, potentially leading to instability. Real change requires a concerted effort to challenge the existing power structures and implement policies that promote economic justice and equality. This includes reforms such as capping inheritance, closing loopholes in tax laws, and strengthening worker protections. Without such systemic changes, the gap between the rich and the poor will continue to widen, threatening the very foundation of our society.
This isn’t merely a political issue; it is an existential threat. The concentration of wealth and power in the hands of a few undermines democracy, threatens social stability, and diminishes the quality of life for millions. Ignoring this reality is not only dangerous, but ultimately self-destructive. The time for meaningful action is now, before the consequences become irreversible.