America, For Sale.
Welcome to Day 1 of President Trump.
Democracy was fun, now we get to try out Oligarchy.
Today, Donald Trump became the 47th president of the United States of America, ushering in a new era of cronyism and corruption. This picture from his inauguration speaks louder than anything said during his inauguration speech.
Tech billionaires are seated in front of Trump’s cabinet. Welcome to America’s new Oligarchy.
For his inauguration, Trump raised 200 million dollars. Major corporations like Amazon, Meta, and Google donated over 1 million dollars, and individuals like Sheldon Adelson donated over 5 million.
On his first day in office, the message is clear. The US government is open for business and the highest bidder will get the spoils. Here is what you need to know about the money behind Trump’s inauguration:
Inauguration donations are an effective way for big corporations and wealthy individuals to pad the pockets of presidents.
There are NO limits to how much individuals can donate to inaugural funds.
There are no clear rules around how inaugural funds can be spent. During Trump’s last inauguration, his inaugural committee grossly overpaid Trump-owned properties that held inauguration events. This time, Trump has already directed inauguration funds down pathways leading to his bank account. In short, Trump is using inauguration funds donated by billionaires and major corporations to enrich himself.
How does this compare to previous presidents?
Obama raised $53 million for his first inauguration and self-imposed a cap of $50,000 on individual donations. Trump obviously imposed no such cap.
Joe Biden raised $46 million for his inauguration.
Why this matters: Trump’s promise to drain the swamp was central to his appeal to millions of voters. Instead, he floods the swamp and hangs a “For Sale” sign over the White House.
But that’s not it. . . the corruption has just begun.
It’s All About the Money.
On Friday, Trump and his family started selling a cryptocurrency token featuring an image of Trump. Trump owns 80% of the token, called $Trump. On paper, the initial launch of this coin has made him $25 Billion.
Trump’s crypto scheme allows him to profit directly from the presidency. Ethics experts assailed it as a “blatant effort to cash in on the office he is about to occupy again.”
Even crypto advocates are critiquing this move. Venture capitalist Nick Tomaino posted, “Trump owning 80 percent and timing launch hours before the inauguration is predatory, and many will likely get hurt by it.”
Why this matters: People voted for lower grocery prices, affordable housing, and a secure border. Instead of focusing on those issues, Trump’s first action was to launch a crypto token that potentially netted him billions of dollars. Again, this violates his promise to drain the swamp.
The Billionaire Administration.
The Trump campaign promised to put “America First.” Based on his proposed economic-policy team, it looks like he meant “Billionaires First.”
Trump’s nominees to head the Treasury and Commerce Departments, the SEC and the Small Business Administration are worth at least a billion dollars each. The average wealth of his top 10 economic advisors is over $500 million.
Why this matters: Billionaires will set the economic agenda for the Trump presidency. They will promote tax cuts, mostly for themselves, and pay for them by cutting programs important to working Americans like Social Security, Medicare, and Medicaid.
Here is what we know so far about Trump’s economic agenda that will benefit his billionaire advisors:
Extend the 2017 Trump Tax Cuts that added $5 trillion to our national debt.
It's estimated that these tax cuts will only benefit households making over $360,000 a year, with other families losing between $600 and $1,800 annually.
Blanket tariffs that are estimated to cost the average American family $4,000 per year.
The world’s richest man, Elon Musk, will use his DOGE committee to cut $2 trillion from the federal budget. A goal that can not be achieved without cuts to Social Security, Medicare, and Medicaid.
Here is the bottom line: Trump’s administration is not for the “forgotten man.” Access to what will likely be the most corrupt administration is for sale. Policy will not be decided by what will help working Americans but by what will enrich Trump and his billionaire cabal.
A Few Quick Hits.
Here are a few other things to know about. I will elaborate on most of these in future posts, but news will come hot and heavy so here is a quick breakdown.
Donald Trump is set to end birthright citizenship via executive order. This is not how the constitution works. . .
Donald Trump is set to declare a national emergency at the southern border. Illegal crossings are down 80% from last year and are lower than when Trump left office. There is no national emergency at our border. Trump wants the national emergency declaration because it will open up funds for him to use on his mass deportation plan. This declaration is a way to subvert our system's normal checks and balances.
TikTok got banned, went dark over the weekend, and is now back. Trump is claiming credit for this. Just remember. Trump originally floated a ban on TikTok. This is yet another example of him breaking something and claiming credit for fixing it.
Sources:
https://www.nytimes.com/2025/01/18/us/politics/trump-meme-coin-crypto.html
Did not watch the inauguration. Depressing and scary as this all is, I won’t give up and will resist. Voices like yours and the many others on Substack that I follow gives me a sense of community and solidarity. Thanks!