{"id":102302,"date":"2020-10-31T17:00:15","date_gmt":"2020-10-31T14:00:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elite-democrats-could-destroy-the-middle-class-if-biden-wins\/"},"modified":"2020-10-31T17:00:15","modified_gmt":"2020-10-31T14:00:15","slug":"elite-democrats-could-destroy-the-middle-class-if-biden-wins","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elite-democrats-could-destroy-the-middle-class-if-biden-wins\/","title":{"rendered":"#Elite Democrats could destroy the middle class if Biden wins"},"content":{"rendered":"

“#Elite Democrats could destroy the middle class if Biden wins<\/strong>”<\/p>\n

\n It\u2019s been a long time since the Democrats were considered \u201cthe party of the people\u201d and the GOP the party of the fat cats. This year Joe Biden and even more so his running mate, Kamala Harris, are raising record sums<\/a> from the corporate elite, notably the tech giants<\/a> and their Wall Street allies<\/a>. These wealthy donors<\/a> dominate the party, own much of the media<\/a>, and can manipulate the social-media platforms<\/a> where a growing proportion of Americans get their news<\/a>.<\/p>\n

Meanwhile, the Republicans find themselves largely castigated in the press and overwhelmed<\/a> by a torrent of oligarchic wealth at the Senate and local levels. This wealthy oligarchy is not just liberal; many members also support a thorough remaking of our country. Some, like former Twitter CEO Dick Costolo, are so committed to progressivism that, as he said recently<\/a>, those who don\u2019t get with the program should \u201cface a firing squad.\u201d Currently led by CEO Jack Dorsey, Twitter has gone so far as to block The New York Post\u2019s account after it reported on the unsavory foreign business dealings of Biden\u2019s son Hunter.<\/p>\n

If these Democrats win both houses of Congress as well as the White House, things could get far worse for the already beleaguered middle class, which has been rocked by the pandemic, with an estimated 100,000<\/a> small firms going out of business. Particularly hard-hit by the recent urban unrest are inner city and minority businesses<\/a>.<\/p>\n

\"A
A Biden win could prove particularly devastating to the energy, agriculture and manufacturing sectors, which Trump has aimed to protect.<\/span>Getty Images<\/span><\/figcaption><\/figure>\n

By contrast, the oligarchs have had a very good pandemic, with tech firms now accounting for nearly 40 percent<\/a> of the value of the Standard and Poor index \u2014 a concentration that is unprecedented in modern history. From March to June 2020, Amazon founder Jeff Bezos<\/a>, who also owns the Washington Post, which has endorsed Biden and skewed coverage in his direction, saw his wealth rise by an estimated $48 billion to an estimated $183 billion, making him easily the world\u2019s richest man.<\/p>\n

The other big winners have been the professional managerial class, including top levels of the federal bureaucracy, academia, and the mainstream media. These are, for the most part, people who can work from home, or, in some cases, the safety of their country houses. Meanwhile, they have achieved power at a level never before exercised outside of wartime and are as likely to surrender this control<\/a> as the oligarchs are to give up their money.<\/p>\n

If the Democrats win on Election Day, the future for the middle class could be bleak. As a lifelong Democrat, this is not easy to write, but most of the party\u2019s initiatives \u2014 such as the Green New Deal \u2014 are directly harmful to those in the middle and working classes, who\u2019d be forced to face increased housing and energy prices and fewer upwardly mobile jobs in industries like manufacturing.<\/p>\n

A Democratic landslide could prove particularly devastating to owners of small businesses, particularly those in the energy, agriculture and manufacturing sectors, who were all critical to electing Donald Trump<\/a> and seem likely to follow him again<\/a> this year, despite the recession caused by the pandemic.<\/p>\n

\"Biden
Biden and Harris are raising record funds from wealthy tech giants and their Wall Street allies.<\/span>Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n

Meanwhile, a Biden White House would enable the oligarchy to reap enormous rewards, starting with the disarming of President Trump\u2019s antitrust assault on Google and other tech monopolies while restoring a \u201chands off\u201d Obama-style policy<\/a> that caters to tech companies\u2019 needs.<\/p>\n

In short, this election could hasten an America that is less democratic and increasingly feudal, with a middle class that is close to nonexistent. Such an app<\/a>roach concerns traditional Democrats, but seems to be of little interest to the woke, ultra-rich members of the Democratic oligarchy.<\/p>\n

Fortunately, this isn\u2019t our last shot to restore the middle class and curb the power of the oligarchs. If the Democrats overreach, particularly if they gain control of both Houses, a new middle-class rebellion \u2014 within the GOP, among renegade Democrats or even from a new party \u2014 could still emerge, this time led by a more unifying and credible figure than Donald Trump.<\/p>\n

Joel Kotkin is the Presidential Fellow in Urban Futures at Chapman University and executive director of the Urban Reform Institute. His new book, \u201cThe Coming of Neo-Feudalism<\/a>\u201d (Encounter), is out now. Twitter: @joelkotkin<\/a>\n <\/div>\n