I'm American! Stop doing it! It's not even the traditional law-and-order conservatives calling for this; it's leftists who just want to redirect the industrial prison system at a new target!
Which is why the most appropriate solution for those who hold themselves above the system due to their wealth and influence is to stick them directly in the worst parts of it and force them to experience it for years.
I don't believe that subjecting someone to the same punitive system they have an outsized influence over is a bad thing. I believe it's necessary, so that when they get out, that they work to change it lest they return one day. The funny thing about contrition is that you usually need to be forced into it.