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The triumph of the American oligarchs

By Robert B. Reich, Tribune Content Agency on

The oligarchs are the richest of the richest 1 percent. They've poured hundreds of millions into the GOP and Trump. About 40 percent of all contributions for the entire federal election came from the richest 0.01 percent of the American population.

The giant tax cut has been their core demand from the start. They also want to slash regulations, repeal the Affordable Care Act and cut everything else government does except for national defense -- including Medicaid, Medicare and Social Security.

In return, they have agreed to finance Trump and the GOP, and mount expensive public relations campaigns that magnify their lies.

Trump has fulfilled his end of the bargain. He's blinded much of his white, working-class base to the reality of what's happening by means of his racist, xenophobic rants and policies.

The American oligarchs couldn't care less about what all of this will cost America.

Within their gated estates and private jets, they're well insulated from the hatefulness and divisiveness.

 

They don't worry about whether Social Security or Medicare will be there for them in their retirement because they've put away huge fortunes.

Climate change doesn't concern them because their estates are fully insured against hurricanes, floods and wildfires.

They don't care about public schools because their families don't attend them. They don't care about public transportation because they don't use it. They don't care about the poor because they don't see them.

They don't worry about the rising budget deficit because they borrow directly from global capital markets.

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