If America is a ruled by a billionaire oligarchy, as I argued in a recent New Republic feature story (“ How the Billionaires Took Over ”), what will our billionaire overlords get out of the “big, beautiful” budget reconciliation bill that narrowly cleared the Senate this week? Higher interest rates , for one, because the bill more than doubles the budget deficit; this will benefit billionaire creditors but hurt billionaire borrowers. The top marginal rate won’t rise from the present 37 percent