How Trump's second regime could spark a new American revolution

So many people I know — including, I suspect, many of you — are despairing over Trump’s second regime, which starts today.

I share your fears about what’s to come.

Yet I remain hopeful about the future of America. Here’s why.

Trump hoodwinked average working Americans into believing he’s on their side and convinced enough voters that Kamala Harris and Democrats were on the side of cultural elites (the “deep state,” “woke”ism, “coastal elites,” and so on).

But Trump’s hoax will not work for long, given the oligarchy’s conspicuous takeover of America under Trump II.

Even before Trump’s regime begins, it’s already exposing a reality that has been hidden from most Americans for decades: the oligarchy’s obscene wealth and its use of that wealth to gain power over America.

Seated prominently where Trump is giving his inaugural address today will be the three richest people in America — Elon Musk, Jeff Bezos, and Mark Zuckerberg — each of whom owns powerful media that have either boosted Trump’s lies or refrained from telling the truth about him.

Musk sank a quarter of a billion dollars into getting Trump elected, in return for which Trump has authorized him, along with billionaire Vivek Ramaswamy, to target for elimination programs Americans depend on — thereby making way for another giant tax cut for the wealthy.

The oligarchy’s conflicts of interest will be just as conspicuous.

Musk’s SpaceX is a major federal contractor through its rocket launches and its internet service, Starlink. Bezos’s Amazon is a major federal contractor through its cloud computing business. Zuckerberg is pouring billions into artificial intelligence, as is Musk, in hopes of huge federal contracts.

Ramaswamy, whose biotech company is valued at nearly $600 million, wants the Food and Drug Administration to speed up drug approvals. His investment firm has an oil and gas fund. His new Bitcoin business would benefit if the federal government kept its hands off crypto.

Trump himself has already begun to cash in on his second presidency even more blatantly than he did the first time. He just began selling a cryptocurrency token featuring an image of himself — even though cryptocurrency is regulated by the Securities and Exchange Commission, to which Trump has already said he’ll name a crypto advocate as chair.

Not to mention the billionaires Trump is putting in charge of key departments to decide on taxes and expenditures, tariffs and trade, even what young Americans learn — all of whom have brazen conflicts of interest.

They’ll all be on display today with Trump. Then, many will take their private jets to Davos, Switzerland, for the annual confab of the world’s most powerful CEOs and billionaires.

Not since the Gilded Age of the late 19th century has such vast wealth turned itself into such conspicuous displays of political power. Unapologetically, unashamedly, defiantly.

This flagrancy makes me hopeful. Why? Because Americans don’t abide aristocracy. We were founded in revolt against unaccountable power and wealth. We will not tolerate this barefaced takeover.

The backlash will be stunning.

I cannot tell you precisely how or when it will occur, but it will start in our communities when we protect the most vulnerable from the cruelties of the Trump regime, ensure that hardworking families aren’t torn apart, protect transgender and LGBTQ+ people, and help guard the safety of Trump’s political enemies.

We will see the backlash in the 2026 midterms and the 2028 presidential election, when Americans elect true leaders who care about working people and the common good.

And just as we did at the end of the first Gilded Age of the late 19th century when the oligarchy revealed its hubris and grandiosity, Americans will demand fundamental reforms: getting big money out of politics, taxing huge wealth, busting up or regulating giant corporations, making huge social media platforms accountable to the public rather than to a handful of multibillionaires.

Friends, we could not remain on the path we were on. The sludge had been thickening even under Democratic administrations. Systematic flaws have remained unaddressed. Inequalities have continued to widen. Corruption and bribery have worsened.

It’s tragic that America had to come to this point. A few years of another Trump regime, even worse than the first, will be hard on many people.

But as the oligarchy is conspicuously exposed, Americans will see as clearly as we did at the end of the first Gilded Age that we have no option but to take back power.

Only then can we continue the essential work of America: the pursuit of equality and prosperity for the many, not the few. The preservation and strengthening of a government of, by, and for the people.

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Robert Reich is a professor of public policy at Berkeley and former secretary of labor. His writings can be found at https://robertreich.substack.com/.