Politics1 min read

Trump’s billionaire-blue collar coalition has been smashed by class politics | Aditya Chakrabortty

By · Via The Guardian Business · Published by Everything Blog

In short

Working- and middle-class voters largely rejected candidates backed by billionaires like Elon Musk as living costs reached unsustainable levels. Persistent volatility in everyday essentials like eggs and record petrol prices coincided with decades of tax policies favoring the wealthiest 400 households over the bottom half of the country. Meanwhile, national economic expansion became intensely centralized, leaving the broader corporate sector and everyday communities without meaningful financial relief.

Key points

  • Billionaire campaign funding failed to bridge the political divide created by acute house…: Billionaire campaign funding failed to bridge the political divide created by acute household affordability pressures.
  • National wealth gains have concentrated heavily within Silicon Valley while leaving the r…: National wealth gains have concentrated heavily within Silicon Valley while leaving the rest of corporate America with stagnant profits.
  • Growing voter frustration over basic living costs has established a powerful political pl…: Growing voter frustration over basic living costs has established a powerful political platform centered on systemic economic inequality.

Sources checked by our analysis pipeline: 1

Remember the “vibe shift”? Just last year, columnists and corporate boardrooms alike declared that the second coming of Donald Trump meant the old rules of politics and even everyday civility were roadkill.

“I feel liberated,” one top banker told the Financial Times. “We can say ‘retard’ and ‘pussy’ without the fear of getting cancelled … it’s a new dawn.”

Bliss was it in that dawn to be alive, but to be a billionaire was very heaven. Because in Trump, the tech bosses had a politician who could work magic by forging a forever alliance between them and blue-collar America. This was the very core of Trumpism, the trick that wowed rightwingers around the world: how he could yoke together minimum-wage workers with the 1%; Latinos and black voters with those happy to dabble in a little light racism; the Epstein-haters with the Epstein class (who can forget Elon Musk’s email to Jeffrey: “What day/night will be the wildest party on your island?”). And he did it by alchemising class antagonism into culture war. Forget about that pay rise – have…

Politics