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Ronda Ross's avatar

The above is not hard to understand. No administration in US history, catered to the wealthy, more than Biden/Harris. Inflation killed the living standards of the bottom half of US earners. The asset heavy, however, have rarely had it so good. Home values and stocks have soared. Climate dollars, often finance Dem donor green companies, that could never survive, without tax payer subsidy.

Biden devoted much of his efforts to student loan forgiveness. No one carries more student debt than Americans with graduate degrees. Doctors, lawyers, MBAs, PHD engineers, and their ilk, tend to marry each other. Under Biden's attempted plan, a 26 year old lawyer, married to a 25 year old MBA, earning $250K together, annually, could have had $40K of student loan forgiveness, under the right circumstance. No one mentioned, as young people they were already earning more than 3X US median family income. On their way to half million dollar family incomes, or more, in middle age.

Biden handed these same people $7500 checks, when they bought an $80K luxury EV. Where Biden really improved their lives, was the human tsunami of cheap labor. Business owners are thrilled with employees that never complain about pay, unsafe working conditions or sexual harassment.

High income families were also thrilled. In the 90s, an educated, stay at home parent, was a status symbol. The parent spent their days devoted to kids under age 5, ferrying children to private school, and a plethora of other after school activities and social events. A house keeper appeared a few days a week.

Times have changed. A stay at home spouse, is an oddity, regardless of income. 2 professional parents, especially if they travel, require, near, round the clock assistance, basically, for 16 years. Multiple nannies, driving to multiple schools, is not uncommon. Toss in a full time housekeeper and/or cook, along with gardeners and pool care. Except for those with generational wealth, such a staff, year after year, is expensive. Biden made the lives of the wealthy, much more enjoyable, when he made domestic help, cheaper and more abundant.

It is not hard to imagine, why the wealthy, so overwhelmingly , supported Harris.

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Vicky & Dan's avatar

Great article. Great data. Should be required reading for "progressives."

It explains why my wife and I, Democrats for 50 years of voting, switched two years ago to be Independents, and voted for Trump (who we detest) in this year's election. Progressive/Democrats no longer speak for the people we always had advocated for. In fact, progressives often look down on them.

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