Party of the Rich (and Privileged)
July 30, 2016 11 Comments
An interesting article and the author may well have several points here. Some of what he says, I agree, and as usual, some of it I disagree with. But it’s undoubtedly true that the Democrats have become the party of the rich, especially the newly rich, who got that way on the back of the taxpayers.
There are very few endorsements that are going to matter in this presidential election, but Michael Bloomberg’s might be one of them. On Wednesday night in Philadelphia, the three-term mayor of New York City called on his fellow independents to vote for Hillary Clinton. “I am asking you to join with me not out of party loyalty, but out of love of country,” Bloomberg said. Why? Is it because he’s so enthusiastic about her many virtues? Nope, it’s because a Trump presidency would be an unmitigated disaster: “He would make it harder for small businesses to compete, do great damage to our economy, threaten the retirement savings of millions of Americans, lead to greater debt and more unemployment, erode our influence in the world, and make our communities less safe.” Ouch. […]
Well, much of that is BS, at least in my opinion. Trump is not likely to be good for small business, no statist really, let alone a protectionist is, but he’s at least arguably better than Clinton. Nobody, at least since Reagan, has really been good for small business, although Bill Clinton’s term wasn’t terrible, but this is not the 90s. Clinton will be absolutely terrible, her support comes from the big business, cronyistic, corporatist bloc whose income depends on Washington, not real serving of the customer. That is also the weakness of Gary Johnson, his is a rather peculiar Libertarianism. Continuing:
It turns out Bloomberg wasn’t alone in this regard. There are millions of voters like Bloomberg—call them the “Bloombourgeoisie”—who might have voted for Romney if not for his stances on social issues, just as there are millions of voters who never would’ve voted for Romney if he hadn’t flip-flopped on abortion, and if he’d supported an amnesty for unauthorized immigrants. Republicans have built a coalition that is a far better fit for culturally conservative working-class whites than it is for the Bloombourgeoisie. If Donald Trump is any indication of where the GOP is heading, that trend will continue in the years to come.
Recently, Lee Drutman, a senior fellow at the think tank New America, argued that Democrats have replaced Republicans as the preferred party of America’s wealthiest voters. In 2012, Barack Obama won a larger share of the vote of households earning $220,000 or more than Mitt Romney, the first time since 1964 that voters in the top 4 percent of household incomes backed a Democrat over a Republican. It’s a safe bet that many of these well-off voters chose Obama over Romney for the same reasons Bloomberg did: RINO Romney was just too right-wing for their tastes. And if these voters couldn’t warm up to Romney, you can only imagine how they’d feel about Trump. […]
After all, it’s bankers’ bonuses that keep cab drivers, doormen, and servers of all kinds employed.
Where Bloomberg parts company with let-them-eat-cake types is in believing that low-wage workers should be provided with Medicaid, SNAP, and high-quality charter schools for their kids, because it’s the right thing to do and because, to be blunt, it’s an insurance policy against a reprise of the French Revolution. It’s not an entirely crazy political philosophy, and it’s shared by a decent number of upscale urban liberals and suburban moderates. Bloombergism is not far off from the progressive Republicanism once represented by Nelson Rockefeller and Jacob Javits. What it’s emphatically not is Sanders-style socialism, which holds that the chief threat to democracy is the outsized power of “millionaires and billionaires” like, well, Michael Bloomberg.
I can’t speak for you, of course, but none of these candidates speak for me. I, and likely you, have a fair idea of which level I’ll pull, but it will be in no sense a celebration, and may well be the wake of ‘my America’ to the world’s detriment. We’ll simply have to see.
Hat tip to Cranach