A “parasitocracy” (parasite + -cracy) is a government run by parasites (or “parasitocrats”). The parasites may be the masses (parasites on the rich and the middle class) or the elite (parasites of everyone else). The term “parasitocracy” has been only infrequently used since at least 2000.
   
“America Has Become A ‘Parasitocracy’” was posted on Zero Hedge and other sites in July 2016, popularizing the term and explaining:
 
“The Deep State is fundamentally a parasitic elite. Their main objective is to transfer wealth and power from the people who earn it to themselves. That is why we propose to call the Deep State, instead, the ‘Parasitocracy.’”
 
   
Wiktionary: -cracy
Etymology
From the Ancient Greek suffix -κρατία ‎(-kratía), from κράτος ‎(krátos, “power, rule”).
Suffix
-cracy
1. rule
 
Google Books
Russian Organized Crime and Corruption:
Putin’s Challenge: Global Organized Crime Project
By Arnaud De Borchgrave and Frank J. Cilluffo
Washington, DC: The CSIS Press (Center for Strategic and International Studies)
2000
Pg. XVI:
The magnitude of the criminal state that has superimposed itself on the legitimate state was made clear by Boris Kashnikov, a visiting Fulbright scholar who is a professor at the MVD Academy in Moscow (which graduates officers for internal security forces). Lecturing at the Woodrow Wilson Center in Washington, he referred to Russia as a “parasitocracy.”
   
Google Books
The Philosophy of Friedrich Nietzsche
By H. L. Mencken
Introduction by Charles Q. Bufe
Tucson, AZ: See Sharp Press
2003
Pg. X:
In fact, under the present hierarchical system, a parasitocracy has arisen in which the mediocre, sub-mediocre, and even the grotesquely unfit flourish (at leasteconomically) at the expense of the more able.
 
Twitter
Real-Politics
‏@RealPoliticsgr
Νέο άρθρο: Parasitocracy http://www.realpolitics.gr/index.php/archives/32794
6:15 AM - 1 May 2011
 
Twitter
confusion miasma
‏@downwardhelix
Paristocracts feasting in the intestines of democracy and freedom of the populace, the parasitocracy grows fat
9:44 PM - 1 Feb 2012
     
Twitter
Bankole Habeeb
‏@bankolehabeeb
I salute my fellow compatriots for their fortitude, its not easy to endure for 13yrs this ‘PARASITOCRACY’ #HappyPseudoDemocracyDay.
6:02 PM - 28 May 2012
 
American Thinker
October 9, 2013
Parasitocracy
By Daren Jonescu
(...)
The parasitocracy is unquestionably dominant.  The question is whether the host’s vital organs are yet in a condition from which a recovery of health—preceded by an inevitable period of violent purgation—remains possible.
 
Zero Hedge
America Has Become A “Parasitocracy”
by Tyler Durden
Jul 19, 2016 9:14 AM
Authored by Bonner & Partners’ Bill Bonner (annotated by Acting-Man’s Pater Tenebrarum),
(...)
In pre-revolution France, for instance, privileged groups used their influence – and often brute force – to get assets that would provide them with income, or “rents.” They were called “rentiers.” And they lived off the productive economy like fat ticks on a dog’s back.
(...)
Parasitic Elite
Everyone wants to get something for nothing. Everyone wants to be a rentier. And every society has them. But a rentier is a parasite. And the more of them you have, the weaker the economy becomes – until it eventually succumbs to revolution, depression, war, or hyperinflation.
 
The Deep State is fundamentally a parasitic elite. Their main objective is to transfer wealth and power from the people who earn it to themselves. That is why we propose to call the Deep State, instead, the “Parasitocracy.”