I’ve long pointed out that 50% to 75% of the value in these large multi-generational fortunes is in the lack of taxation compounded over decades, not whatever productive activity the first generation workers and innovators were up to..
Nobel Prize winning economist Paul Krugman explains how the two Bush tax cuts (while he borrowed trillions to fund our expensive and embarrassing misadventures in Iran & Afghanistan), plus the two Trump tax cuts, explain most of our problems.
Remember, when Bill Clinton closed out his Presidency in 2001, the US Gov’t was operating with a small fiscal surplus. George W. Bush immediately started working on a big millionaire tax cut to send us back into debt. “Trickle down” has always been a Right Wing lie.
Well, it was a lie, and it doomed our children to a lifetime of debt and poor healthcare. But on the positive side, the wrong sort of people aren’t benefiting. And that is what’s important.
Hispanic Support: Donald Trump saw notable increases among Hispanic voters, rising from 36% in 2020 to 48% in the 2024 presidential election, though subsequent polling showed some fluctuation in approval. [1]
Black Voter Shift: Support and approval ratings for Republican candidates among Black voters—particularly Black men—have ticked up compared to prior cycles, while identification as staunchly “Democrat” has declined. [1, 2]
Dealignment vs. Realignment: Analysts from groups like the Pew Research Center note that many minority voters moving away from the Democratic Party are becoming independents rather than firmly registering as Republicans. [1, 2]
Economic Discontent: Voters have frequently pointed to persistent concerns over the economy, inflation, and the cost of living as primary reasons for dissatisfaction with the party in power. Republican or Democrat, this is what wins and loses elections and sways most voters.