A global contest is escalating between democratic institutions governed by the rule of law and lawless dictators who seek to enrich themselves and their cronies.
Here at home, President Trump’s tariffs are driving up costs for families. Millions of Americans have lost their health insurance so that Republicans could fund tax breaks for rich people. ICE is sowing chaos and terror in our communities, resulting in the tragic killing of Renee Good in Minnesota. And Donald Trump’s view of the First Amendment is that he gets to say whatever he wants, AND he gets to use the power of government to silence, extort, bankrupt, or even prosecute anyone who criticizes him. Acting like the wannabe dictator he is, Trump is trying to push out the chairman of the Federal Reserve Board and complete his corrupt takeover of America’s central bank – so it serves his interests, along with his billionaire friends. And he has invaded Venezuela to boost the profits of oil companies and announced that he will “run the country.”
They are wrong. Americans are stretched to the breaking point financially, and they will vote for candidates who name what is wrong and who credibly demonstrate that they will take on a rigged system in order to fix it. Revising our economic agenda to tiptoe around that conclusion might appeal to the wealthy, but it will not help Democrats build a bigger tent, and it definitely will not help Democrats win elections. A Democratic Party that worries more about offending big donors than delivering for working people is a party that is doomed to fail—in 2026, 2028, and beyond.
Let’s start with some basic math. By definition, the top 0.1% of the economic ladder doesn’t have a lot of votes. So when the question is raised whether Democrats should build our tent by sucking up to the rich, it’s sure not about attracting their votes. It’s about attracting their money.
There are, of course, extremely wealthy people who are also deeply public-minded. For some, it’s about living their values. For others, it’s recognition that massive economic instability is ultimately bad for business. Either way, these very wealthy people advocate for better health care and universal childcare. They embrace sensible regulations to stop corporate scammers. They press the government to raise taxes—including on themselves and their businesses. Over and over, they push for an economy that works for everyone.
But there is a different, and frankly much larger, group of extremely wealthy people trying to influence policy. This group might align with the Democrats on some social issues. They certainly are not MAGA Republicans. But they’re also not interested in changing an economic game that is already rigged in their favor. In exchange for their financial support, they insist that the Democratic Party turn its economic agenda in a direction that mostly benefits the wealthy and further undermines the economic stability of tens of millions of families all across this country.
These people push Democrats to embrace candidates who will slow-walk popular economic policies. They lobby for deregulation and special tax breaks that will pad their own bottom lines. They promote making big-time corporate lawyers federal judges. They pressure presidents to appoint tepid leaders at regulatory agencies—people who, once in office, seem positively allergic to enforcing the law when that might make life uncomfortable for big business interests.
In their effort to shape the Democratic agenda, the ultra-wealthy wield outsized power. And we all know why.
● Rich people can fund super PACs to prop up political campaigns for their chosen candidates.
● They can fund their own lobbying efforts.
● They can build or simply buy whole media empires in order to bend the news to their liking.
● And, as we’re seeing right now with AI and crypto, they can try to crush anyone who gets in the way of their business interests.
Over the past generation, the wealthy have avoided accountability time and again. Regular Americans must play by every rule or face real consequences. You don’t need to read every news article about Jeffrey Epstein and his good buddies like Larry Summers and Donald Trump to understand how consistently rich and powerful insiders protect each other, regardless of politics and regardless of how obscene the situation has become. The Epstein scandal is real and enormous, but the slew of white-collar pardons issued in recent months by President Trump reflects the same the-rules-only-apply-to-someone-else mentality that pervades Washington.
So how does this affect winning elections?
After the 2024 election, pundits sliced and diced demographic groups—across race, age, religion, and geography—to show how Democrats need to grow our coalition in order to win again. Yes, we need support from rural voters, men, and voters without a college degree. And yes, in 2025 we won back some of those folks, partly because Democratic candidates from every wing of the party ran against Trump’s betrayal of working people on affordability issues.
But in the long run, to build a strong Democratic party with a sturdy big tent, it is not enough to simply attack Trump. Democrats need to earn trust—long-term, durable trust—across the electorate. Trust that we actually understand what’s broken, and trust that we have the courage to fix it—even when that means taking on the wealthy and well-connected.
Democrats weren’t always just the default option when the other guys were worse. Once, we were trusted by working people to fight for their interests. And we delivered—even against tough Republican opposition. Social Security, strong unions, the 40-hour workweek, overtime, Medicare, Medicaid, homeownership for veterans and first-time homebuyers, the Affordable Care Act. Over and over, we showed that we could fight and we could deliver.
I understand the temptation—in this moment of national crisis—to sand down our edges to avoid offending anyone, especially the rich and powerful who might finance our candidates. But we can’t win unless we rebuild trust. And we can’t rebuild trust by excommunicating Biden administration law enforcers who, for the first time in decades, actually fought to hold corporations accountable for driving up prices. We can’t rebuild trust by calling up Elon Musk when he tussles with Trump and offering him whatever he wants if he’ll come back to our side and kick in a few nickels to our candidates. We can’t rebuild trust by staying silent about abuses of corporate power and tax fairness simply to avoid offending the delicate sensibilities of the already-rich and powerful.
I understand that, because of our broken campaign finance laws, Democrats need to raise a lot of money, and I don’t believe in unilateral disarmament against the Republicans. But money is not the only ingredient for a successful election. When Democrats water down their economic platform to appeal to wealthy donors, whether the transaction is explicit or subtle, we squander trust with working people and the money just isn’t worth it.
Yes, Democrats need a big tent. But there are two visions for what a big tent means. One vision says that we should shape our agenda and temper our rhetoric to flatter any fabulously rich person looking for a political party that will entrench their own economic interests. The other vision says we must acknowledge the economic failures of the current rigged system, aggressively challenge the status quo, and chart a clear path for big, structural change.
If we are going to pick up the broken pieces from the 2024 election and build a durable big tent, we must acknowledge a hard truth: The Democratic Party cannot pursue both visions at the same time. Either we politely nibble around the edges of change, or we throw ourselves into the fight. Either we carefully craft our policies to ensure that the rich keep right on getting richer, or we build a party that ferociously and unapologetically serves the needs of working people. Democrats have a choice to make—and the first step in rebuilding trust is to admit that we have to choose. (...)
So what does it mean to focus our agenda on an aggressive economic vision? At its core, the goal is simple and easy to measure.
● It means boosting pay and making life more affordable for working people.
● Building more affordable homes and cracking down on corporate landlords.
● Increasing the size of Social Security checks.
● Providing universal child care.
● Passing price gouging laws with real teeth.
● Guaranteeing the right to repair your own cars, machines, and business equipment.
● Strengthening unions.
● Building universal health care.
● Taxing the wealthy and giant corporations.
● Increasing the minimum wage.
I could go on and on—and in fact I have, with detailed plans and legislative proposals. We are not short on good ideas. (...)
I believe in markets and a market economy, and I have spent my entire career trying to make them work better so our economy works for everyone. I celebrate success. I don’t think billionaires are bad people just because they are billionaires. Or that corporations are evil because they pursue profit.
And let me say it again: There is a big difference between a billionaire who spends his fortune to advance the interests of working people and a billionaire who uses his money to entrench a rigged economy. Ideas are not better because they come from a rich person offering to open his wallet and advance his own financial interests—and our leaders should stop acting like they are.
by Elizabeth Warren, The Nation | Read more:
Image: Jemal Countess/Getty Images for Families Over Billionaires[ed. Big fan, and always have been. This is what a true populist looks like.]
