Bernie Sanders Has to Ask Three Times If Trump’s Billionaire Treasury Secretary Nominee Agrees The U.S. Is An Oligarchy

Sen. Bernie Sanders (I-VT) asked President-elect Donald Trump’s nominee to lead the Treasury Department, billionaire hedge fund manager Scott Bessent, if he agreed with President Joe Biden that the U.S. is heading toward becoming an oligarchy.

During Bessent’s Thursday confirmation hearing, Sanders began his line of questioning, saying, “Mr. Bessent, thanks very much for being in the office the other day. Mr. President, the United States today has more income and wealth inequality than has ever existed in the history of our country. You’ve got three people on top, Mr. Musk, Mr. Bezos, and Mr. Zuckerberg, who are now worth almost $1 trillion. That is more than half of the bottom of our society or some 170 million people.”

“Three people more wealth than the bottom 170 million. With more concentration of ownership today than we have ever had. We have more concentration of ownership in the media where a handful of billionaires like Musk, Bezos, Rupert Murdoch are increasingly own the media and the information that the American people receive,” he continued, adding:

We have a corrupt campaign finance system in which a small number of billionaires in both political parties make huge contributions into the presidential and congressional campaigns. When you have a small number of multi-billionaires who have enormous economic, media and political power. Would you agree with President Biden, who last night stated, and I quote, ‘An oligarchy is taking shape in America of extreme wealth, power and influence that threatens our entire democracy, our basic rights and freedoms.’ End of quote, that’s what President Biden said last night. I agree with him. Do you?

“Senator Sanders. I enjoyed our visit to talk a little bit closer and I hope you got my follow up materials on the discussions on the tariffs and China. And look, the the three billionaires who you listed that all made the money themselves. Mr. Musk came to the country as an immigrant,” Bessent replied.

Sanders jumped in, saying, “I understand that” and rephrased his question:

But what I’m asking you is when you have a handful of people like Musk, who will soon be part of the Trump administration and others, when you have three people owning more wealth than the bottom half of American society, when these people have enormous influence over the media, when they spend huge amounts of money in both political parties to elect candidates.

What Biden said last night is we’re moving toward an oligarchy. I’m asking you that question. Do you think forget how they made their money? Do you think that when so few people have so much wealth and so much economic and political power, that is an oligarchic form of society?

“Well, I would note that President Biden gave the Presidential Medal of Freedom to two people who I think would qualify for his oligarchs,” Bessent replied, again dodging the heart of the question.
Sanders tried again, “This is not a condemnation of any one individual. I’m just asking what? So few people have so much wealth and power. Do you think that that is an oligarchic form of society?”

“Senator, I think it depends on the ability to move up and down the–” Bessent replied, still not answering the question.

Sanders cut in and moved, “No, that’s not really the answer. I mean, even if you had the mobility, no matter who those individuals might be. All right. But let me ask you another question.”

Watch the clip above via C-SPAN.

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