On Friday’s “PBS NewsHour,” New York Times columnist David Brooks stated that President Joe Biden’s warning about oligarchy in his Farewell Address is accurate, but “there is a Democratic oligarchy and a Republican oligarchy. And so, to say it’s all because of Elon Musk, well, that’s part of it, but there are a lot of billionaires on the Democratic side.” And “Most billionaires in this country are Democrats” and there is a large amount of wealth and power that exists in places like Hollywood, New York, and San Francisco that also vote heavily Democratic.
Brooks said, “I think he’s right. There is an oligarchy, but it’s completely bipartisan. Most billionaires in this country are Democrats. You go to — I speak at Aspen every year. I think I know something about billionaires. And there’s — there used to be one Republican.”
He continued, “Hollywood, New York, San Francisco, these are Democratic places. The Democratic Party has half the country, but about 75% of the GDP of this country. So, there is a Democratic oligarchy and a Republican oligarchy. And so, to say it’s all because of Elon Musk, well, that’s part of it, but there are a lot of billionaires on the Democratic side.”
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