Oligarchs: Powers of the Ultra-Wealthy (SHANNONDELL Valley Forge)

Oligarchs, the richest and most powerful men in America, have long been admired, envied, and feared by the unrich masses. One source for this discussion is a podcast from Harvard’s Kennedy School of Government, “Oligarchy in the open: What happens now as the U.S. confronts its plutocracy problem?” Professors Archon Fung and Lawrence Lessig discuss the growth of oligarchy and the claim that the U.S. was already an oligarchy before Donald Trump’s first presidency. You can either listen to the audio-only podcast or read a transcript, both available at the website https://www.hks.harvard.edu/faculty-research/policycast/oligarchy-open-what-happens-now-us-forced-confront-its-plutocracy#transcript . (The podcast runs 47 minutes.) The professors raise a number of issues we may discuss:

• Is concentrated wealth the biggest problem in American politics?
• Are the oligarchs above the law?
• Can unlimited campaign funding actually "buy" an election?
• Should corporations have the same rights as people?
• How do oligarchs persuade voters to support tax cuts for the rich?
• What will come of DOGE's reckless and illegal activities?

Another resource for the discussion is a new report from the Institute for Policy Studies. Data show that many of the richest corporate oligarchs pay very low wages to their employees. The report blames corporate oligarchs for suppressing wages so much that it is a factor in the current affordability crisis. You can read the report “America’s 20 Largest Low-Wage Employers and the Affordability Crisis” at https://ips-dc.org/report-americas-20-largest-low-wage-employers-and-the-affordability-crisis/.

Workers at some of these companies earn less than poverty level - low enough to qualify for SNAP, Medicaid, and other welfare programs. One suggestion by the authors for fixing the problem is to raise the minimum wage. Another is taxing employers for paying less than a living wage. Do you think these would help? What ideas do you have?
The Institute for Policy Studies is a progressive social justice organization of scholars and activists (not at all unbiased), but most of their data comes from government sources. We can challenge their progressive biases, especially the recommended solutions that assume government has a responsibility to rein in corporate oligarchs.