Participatory Fascism?

Is the following premise a valid statement?

“…The interventionists eventually won out, so that today’s political/economic system (in the U.S. and in many other copycat countries) can be described as “participatory fascism.” It is a system that is of plutocratic elites, for plutocratic elites, and by plutocratic elites (to paraphrase Abraham Lincoln, the true founding father of this system)…”

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