Economic Divide: Regular Americans vs. Wealthy Elite on Biden Policies

• Gallup polls reveal major Republican lead on economic issues since 1991.

• Divide persists between regular Americans and wealthy elite on support for Biden's policies.

• Former NEC director Larry Kudlow sheds light on disconnect between Americans and elite.

Gallup polls reveal major Republican lead on economic issues since 1991.

AP

Republicans are experiencing a significant lead on economic issues, as revealed by recent Gallup polls. This surge marks their largest advantage since 1991. However, there exists a striking disconnect between everyday Americans and the affluent elite in their support for President Biden's economic policies.

During a recent interview, Larry Kudlow, former director of the National Economic Council under President Trump, shed light on this disparity. Kudlow observed that while ordinary Americans expressed frustration over the state of the economy and tended to blame President Biden, influential figures in Wall Street, Silicon Valley, and the billionaire class continued to support his administration.

Kudlow suggested that the wealthy elite has gradually shifted to a more left-leaning stance over the past few decades, diverging from the conservative viewpoints typically favored by self-made business owners, such as tax cuts and deregulation. This transition has been particularly noticeable on Wall Street, where previously conservative leanings have given way to more progressive ideologies.

The reasons underlying this divide are multifaceted. Kudlow proposed that some of the elite's support for Biden may stem from their globalist mindset. They perceive the 'America First' approach as outdated and isolationist, in favor of a more internationalist perspective. Additionally, concerns about China play a role, as Biden's administration has signaled a tough stance on the country, which could impact global economic dynamics.

Nevertheless, Kudlow emphasized that these elites have often misjudged political situations in the past. Initially skeptical of Trump's candidacy and presidency, they failed to appreciate his pro-business and pro-growth policies. The robust stock market gains and steady GDP growth during Trump's tenure contradicted their reservations.

Kudlow expanded his analysis to include other elite circles, such as the Davos group, advocates for global warming initiatives, and proponents of open borders, all of whom tend to align with Biden's policies.

The conversation also touched upon the challenges facing New York City. Kudlow highlighted issues such as safety concerns, cleanliness problems, rising homelessness, and drug-related problems. However, the wealthy elite often have the means to escape these challenges by retreating to their country homes, while regular residents are unable to escape the deteriorating conditions.

In response to the divide between elites and average Americans, Kudlow stressed the importance of Republican candidates adopting an economic prosperity message. He argued that candidates must embrace a low-tax, pro-business agenda similar to the Trump playbook, as it resonates with ordinary citizens.

While the Gallup polls suggest favorable economic conditions for Republicans, the outcome of future elections will depend on how effectively candidates convey their economic messages and engage with the electorate. The divergence between regular Americans and the elite class remains a notable aspect of the current political landscape.