If the problem of wealth in politics has been present from the beginning, it has been particularly acute since the Supreme Court’s opinion in Citizens United in 2010, which unleashed an unprecedented flood of money into our politics, to both parties. Yet the generic problem of money in elections doesn’t capture what is happening right now: The country faces an alliance of self-interested would-be oligarchs and a president who has little commitment to constitutional democracy. Their interests are not the public’s, and their power is immense.
Elon Musk is the most obvious instance of this. He has been appointed by Trump to head the Department of Government Efficiency, where he aims to cut $500 billion in government spending and reorganize the federal bureaucracy. DOGE’s remit is to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies. Government can always be made more efficient. Yet Musk, whose companies have billions of dollars in government subsidies and contracts, seems to be engaged in “a bureaucratic coup.” He gained access to the Treasury’s payment system and halted operations at USAID; he is reportedly behind the attempted “buyout” of government employees, and his team has perhaps unlawfully accessed government employees’ private information. And despite the enormous conflicts of interest posed by his other businesses, he has not relinquished them even while wielding extraordinary governmental power (very much like Trump). The setup could allow Musk, again like Trump, to profit from his connections and potentially steer the government toward his financial interests and away from competitors’.
Beyond Musk, Trump has named a number of ultra-wealthy allies to his Cabinet, including the secretaries of the Treasury, commerce, and education. Jeff Bezos and Mark Zuckerberg have also signaled their support, with their respective companies donating to Trump’s inauguration and making business accommodations that seem aimed to please Trump. At the top of Trump’s agenda in the new Congress is extending his 2017 tax cuts, which will largely benefit the very well-off.
Trump openly rejected the basic rules of the constitutional order by refusing to acknowledge that he lost the 2020 presidential election, scheming to remain in office, pardoning those who aided him in his effort to overturn the Constitution, and promising political retribution on those who tried to hold him accountable. His wealthy backers are either indifferent to this threat or eager to indulge it, thinking they are beyond rules.