Comment by thrance

5 days ago

It serves the current administration's in-group: the ultra-wealthy.

Why would the ultra-wealthy be this administration's in-group? Trump won voters with under 100K income, while Harris won those over 100K.[0] Among high-net-worth individuals, Harris had a 10 point lead among those with $1-5mm in net worth and a ~2 point lead with those >$5m, according to the only polling I could find that specifically targeted high-net-worth individuals.[1] It's possible that the "ultra-wealthy" buck this trend, but I haven't seen any data that suggest such a thing.

[0] https://ropercenter.cornell.edu/how-groups-voted-2024

[1]https://www.independent.co.uk/news/world/americas/us-politic...

  • Trying to extrapolate the behavior of people with $100 billion from the behavior of people with $5 million is clearly nonsense. That's as big of a difference as between someone who makes $20 million per year and someone at the global extreme poverty line of $2.66 per day.

    Of the five richest people in the world, 80% were personally sitting right behind Trump at his inauguration.

    • More like “five richest people in the US according to their tax returns”. Nobody has counted the money of the Saudi Prince, the president of Russia, and a few dozen other characters like these.

      Intuitively it feels like their wealth would eclipse Elon Musk.

Got a surprise for you if you think any admins in group isn’t the ultra wealthy