From the article the (the emphasis is mine).

…both parties have courted and favored America’s super-rich, over and against the interests of the rest of the country. [for decades now in fact-JJH]

Sure, there are differences. Republican politicians will defend any lowlife whose bank book is big enough, from payday lenders to Wall Street CEOs. Democrats, by contrast, court nicer, more progressive-seeming elements of the super-rich. Harvey Weinstein, for instance.

During Bill Clinton’s presidency, when incomes were elevated by an epic stock market bubble, this contradiction could be tolerated, even celebrated. But it is not tenable after the joint debacles of the 2008 financial crisis and the foreclosure-infested recovery. One vision has to win out. Democrats can either be the party of the people or they can be the party of what more refined elements of the upper class deign to bestow upon the people. They cannot be both.

The Billionaires Hit The Panic Button

Since early summer, Sens. Bernie Sanders and Elizabeth Warren have been drawing huge crowds to their rallies, dominating the televised debates, and setting fundraising records with support exclusively from small donors. Most importantly, their surging popularity stems from their plans to dramatically expand the federal government, paid for in large part through a wealth tax.

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