I guess it depends on what you're defining as "the ruling class", because I believe most progressives would define it as "the wealthy" and would certainly not be in favor of that. Look at the AOC/Pelosi rift, for instance.
In free democracies, politicians are elected representatives, not rulers. They are accountable to voters through regular elections. Power is distributed across multiple branches/institutions. Citizens have protected rights and freedoms. Politicians can be voted out or recalled. Laws apply equally to politicians and citizens.
In practice, there's always a slippery slope, can wealthy people integrate themselves in that power structure, lobbying, media control, strength of checks and balances, level of corruption/transparency, etc. But when that slips, we stop calling it a free democracy, and it becomes an oligarchy, or a plutocracy, or an illiberal democracy.
Politicians do come in different flavours. There are some elected officials with good intentions. See again the AOC/Pelosi rift.
The more we regulate to get money out of politics, the more good people will have a shot at being elected.
These are all common progressive values. No true progressive supports wealthy unethical politicians gaining more power. Anyone telling you so is not speaking in good faith, or they are misinformed.
