How to Stop the Billionaire Takeover: Democrats Must Declare Class Warfare

It’s time to name the enemy and wage a real fight for the middle class…

If my hypothesis from yesterday — that Democrats best way to win elections and regain political power is to engage in class warfare against the GOP and the billionaires that fund it — the immediate question is, “How?”

The last century has seen two presidents engage in class warfare in a big and direct way that not only won them multiple elections but also altered the electoral map of America: Franklin D. Roosevelt and Ronald Reagan. There are multiple lessons to learn from both.

When FDR came into power in March of 1933, the nation was in shambles because of a decade of Republican mishandling of the economy. In the early 1920s, Republican President Warren Harding dropped the top income tax rate from 91% down to 25% and loosened oversight of Wall Street.

The short-term result was an explosion of riches at the top, referred to as “The Roaring 20s,” and violent actions against attempts to form labor unions. The longer-term result was the infamous Black Tuesday of October 29, 1929 which kicked off the Republican Great Depression.

President Roosevelt correctly identified America’s morbidly rich, who’d seized control of the GOP after the end of the Taft presidency in 1913, as the cause of the financial disaster and proclaimed that they and their captive Republicans had declared class war against average working class Americans.

“For out of this modern civilization,” Roosevelt told America, “economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. … It was natural and perhaps human that the privileged princes of these new economic dynasties, thirsting for power, reached out for control over Government itself.”

He used the language of class warfare; as with all wars, the first step is to identify the enemy. For FDR it was the morbidly rich of his era who weren’t content to just run their businesses and make money but also lusted for the political power they’d been given during the 1920s by Republican presidents Harding, Coolidge, and Hoover.

“These economic royalists complain that we seek to overthrow the institutions of America,” Roosevelt proclaimed.  “What they really complain of is that we seek to take away their power.”

He paused for a moment, then thundered, “Our allegiance to American institutions requires the overthrow of this kind of power!”

The crowd at Madison Square Garden roared when he said that. They knew that Republican politicians had worked hand-in-glove with wealthy industrialists to suppress unions, evade taxes, and accumulate fortunes beyond anything ever seen in America. That the GOP had been running an often-violent class war against them for at least the past decade.

And they were over it. Over the greed, over the theft, and over the self-righteous proclamations that the Constitution protected their avarice. Average working people knew these “economic royalists” weren’t patriots; they were looters, vandals, and political arsonists. FDR gave voice to their anger, disillusionment, and disgust.

“In vain,” Roosevelt said, “they seek to hide behind the Flag and the Constitution. In their blindness they forget what the Flag and the Constitution stand for. Now, as always, they stand for democracy, not tyranny; for freedom, not subjection; and against a dictatorship by mob rule and the over-privileged alike.”

Republicans had declared class warfare; FDR, like he would later do with the Japanese and Germans, led the charge to fight back and defeat them.

And defeat them he did (even in the face of an assassination attempt); by the end of his presidency, American oligarchs had gone back to doing business and getting rich, largely avoiding politics and keeping their noses clean.

Until, that is, President Nixon put Lewis Powell on the Supreme Court and Powell began the process — from the bench — of turning America back into a full-blown oligarchy like Hoover had done in the 1920s.

The Powell Memo and the Court’s Bellotti decision (written by Powell) set the stage and outline the battle plan for the Reagan Revolution, an all-out declaration of class war against average Americans and the Democrats who’d historically defended them.

In the 1980s, Reagan cut the top income tax rate from 74 percent down to 27 percent (while repeatedly raising taxes on working-class people’s wages, tips, and Social Security), kicking off an explosion of billionaires. He and other Republican presidents and members of the Supreme Court followed up by:

— Ending enforcement of our anti-trust laws and gutting our environmental regulations.
— Killing off our media guardrails like the Fairness Doctrine and Equal Time Rule, along with ending ownership limits on newspapers, radio stations, and TV stations and networks.
— Fighting every effort to reduce or end student debt.
— Opposing every program proposed to broaden access to healthcare coverage.
— Attacking our right to vote.
— Privatizing Medicare with the Medicare Advantage scam (Social Security is next).
— Assailing environmental regulations that protect us and our children from cancer and other diseases.
— Going to the mat to defend hundreds of billions in annual subsidies for the fossil fuel industry and its oligarchs.
— Deregulating social media (Section 230), now taken over by rightwing billionaires.
— Packing our courts with reliable toadies for giant corporations and the wealthy.
— Stripping over $50 trillion from the working class since 1981, handing that money to the morbidly rich to stash in their offshore money bins.
— Rejecting every effort to raise the national minimum wage.
— Most recently, Trump congratulated Musk on his union-busting success.

Through this entire period, Democrats have refrained from employing FDR’s class war rhetoric to fight back. Instead, they’ve worked hard to make life better for working class people when in power and tried to limit the damage from Republican proposals and policies when they’re out of power.

This is why Vice President Harris’ claims that Democrats are here for the average person while Republicans want more tax cuts and deregulation failed to catch fire during this past election; there was no rhetoric of warfare. Instead, astonishingly, Harris campaigned with Liz Cheney and kept saying that she’d give Republicans “a seat at the table.”

As billionaire Warren Buffett famously confessed:

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”

It’s far past time to take the gloves off and start punching.

Democrats have become so rusty, so wary of class warfare, that they haven’t even identified a term or metaphor to describe the rightwing billionaires for whom the GOP fronts.

From Democratic President Grover Cleveland in the 1880s saying the rich had working people under their “Iron heel” to the early 20th century when they were called Robber Barons, Democrats have had names for Republicans and the billionaires who own them.

FDR called them economic royalists. Teddy Roosevelt called them fat cats, malefactors of great wealth, parasites, and plutocrats. I’ve been calling them the morbidly rich, but there’s almost certainly a more evocative phrase out there that could be applied to greedy billionaires by this generation of progressives.

After all, elite conservatives and billionaires haven’t hesitated to use “othering” language in their war against Democrats.

Reagan and Republicans since have called us pointy-headed intellectuals, ivory tower elites, eggheads, limousine liberals, champagne socialists, latte liberals, the wine and cheese crowd, coastal elites, tax and spend liberals, bleeding hearts, do-gooders, tree huggers, environmental wackos, libtards, communists, and even feminazis.

And how do Democrats describe Republicans? “Our friends on the other side of the aisle.”

Screw that. It’s time to declare war.

And war requires a clear delineation between our side and their side, between the good guys and the enemy. Nobody is going to rush to the ramparts against somebody we’re “happy to work with on a bipartisan basis”: as Newt Gingrich taught Republicans in the 1990s and they’ve held to with a religious fervor, there can be no quarter against the other side if you want to take and hold power.

Class war sounds ugly, but it’s exactly what Republicans and their billionaire backers have been waging against working class Americans for 43 years now. It’s damn well time to fight back by declaring a class war of our own.

The song that was inspired by this article is here.
My reading this article as an audio podcast is here.
My newest book, The Hidden History of the American Dream, is now available.