Oligarchy Is On the Ballot

Paul Krugman: “Donald Trump has urged voters to pretend that he’s on the ballot in the midterm elections. Given his historic unpopularity, his opponents can only hope that people take his advice. And the polls, which show Republicans almost certain to lose the House and likely to lose the Senate, suggest that Democrats are getting their wish.”

“Voters should also know, however, that Trump isn’t alone in de facto being on the ballot. America’s oligarchs — a tiny group of almost inconceivably wealthy people — also have a huge stake in this election. The Democratic Party isn’t ideologically monolithic, but it’s basically a center-left party that will be much less favorable to plutocrats than the GOP. And because they rushed to prostrate themselves at Trump’s feet after the 2024 election, many of the oligarchs may find themselves personally in the crosshairs if a Democratic Congress begins serious hearings on Trumpian corruption.”

“Fearing this outcome, the oligarchs have been pouring money into the midterm elections, in an all-out effort to limit the size of the blue wave.”