In the closing days of 2017, President Donald Trump scored his sole major legislative victory by pushing through Congress a sweeping tax cut. Every objective analysis of the new legislation has found that it overwhelmingly benefits wealthy people and corporations—and adds more than $1 trillion to the national debt—but Trump sold the tax cut as a “Christmas gift” to average, middle-class Americans.
It was a pitch that revealed the enduring power of populism in American politics.
Trump clearly sees himself as a man of the people, but he and his allies should be aware that throughout American history populism has been a double-edged sword: While it has inspired great political-reform movements, it has also been manipulated by demagogues to promote fear, divide the nation and infringe on individual rights.
The populist tradition is nearly as old as the republic itself, but it was a farmers’ revolt in the late 19th century that broadened its appeal and codified a language and style of politics that would endure long after the formal movement ended. A combination of forces had conspired against farmers: declining prices for their crops, rising debt and a railroad monopoly that controlled the cost of shipping to the growing cities on the East Coast. Things got so bad that corn farmers in Kansas burned their crops for fuel because corn was cheaper than coal. In response, farmers banded together, organized their own political party and advocated for federal intervention to regulate the railroads and inflate the money supply. William Jennings Bryan, the most revered populist leader of his age, declared that the money issue represented a clash between “the common people” and “the encroachments of organized wealth.”
Populists disagreed about the best strategy for addressing their grievances, but they all shared a common worldview. They romanticized “the people,” convinced that all Americans embraced the same agenda and spoke with one voice. When government failed to follow the will of the people, they suggested, it was because powerful interests had intervened and corrupted the institutions of government.
To explain how a small group could attain so much power, populists often turned to conspiracy theories. The Populist party platform of 1892 stated bluntly that “a vast conspiracy against mankind has been organized on two continents,” which, if “not met and overthrown at once,” would lead “to the destruction of civilization, or the establishment of an absolute despotism.” In the populist mind, there were two groups: the people and the special interests. As the historian Richard Hofstadter has noted, the agrarian uprising also exposed a dark side to populism: a penchant for oversimplifying problems and scapegoating “elites,” which in this case included Jewish bankers and legitimate businessmen.
In 1896, Republicans led by William McKinley crushed populists’ electoral hopes, but 20th-century progressive politicians would adopt their style and implement much of their agenda. In 1936, President Franklin Roosevelt borrowed from the populist playbook when he defended his ambitious New Deal agenda by attacking the “unjust concentration of wealth and economic power.” He assailed the “economic royalists” who took “other people’s money” to impose a “new industrial dictatorship.” The forces of “organized money are unanimous in their hate for me,” he told a cheering crowd in New York’s Madison Square Garden, “and I welcome their hatred.”