United States of Oligarchy by Casey Michel

UNITED STATES OF OLIGARCHY by Casey Michel is subtitled “How America's Wealthiest Ally with Dictators, Weaken the U.S., and Destroy Democracy.” Michel (American Kleptocracy and Foreign Agents) is a financial expert and has written extensively about related crimes (e.g., tax evasion, money laundering). Recently described in Foreign Affairs journal as “a blistering account,” his latest text is accessible, but fairly academic in tone and centers on the ways in which national security and democracy are being threatened both by very wealthy Americans and foreign influences from places like Russia, China, and the Middle East. I was surprised at the extent to which he calls out rich and powerful people like Elon Musk and Jared Kushner, for example. Even the Afterward is chilling. Writing about “Just how monstrous American wealth inequality has become in recent decades -- and how it's now surpassed anything the country has ever known,” Michel cites statistics meant to shock: (“First year the 400 richest Americans paid a lower tax rate than the bottom 50% of Americans: 2018”) and outlines recommendations (e.g., more enforcement of existing laws or enacting new taxes on the ultra-wealthy) to halt or curb these practices. He goes on to point out that this as a global phenomenon, “infecting even places like Britain (where the top 1 percent owned 21.3% of the country's total wealth), France (27.2%), and Germany (27.6%). UNITED STATES OF OLIGARCHY received a starred review from Publishers Weekly (“Readers will be outraged by the egregiousness of it all.”). The text is extensively researched with over a thousand footnotes.