Democrats keep saying America is an “oligarchy.” Is that true?

Lee Drutman wrote for Vox on why America has become an oligarchy.

Oligarchy exists on a continuum, so there is not a single moment someone can point to and say that a country is now officially an oligarchy. But by analyzing data on economic inequality and money in politics, America starts looking distinctly oligarchic by the beginning of the 21st century.

Consider some stats from a comprehensive 2020 RAND report: In 1975, the median full-time American worker earned $42,000 (in 2018 dollars). In 2018, the median was $50,000, a slight increase.

But for those in the top 1 percent of earners, the bottom salary went from $257,000 in 1975 to $761,100 in 2018 — almost tripling. And the average income in the top 1 percent went from $289,000 to $1,384,000 — more than quadrupling.