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Why Plutocrats Are Rallying to Trump

Civic lessons won’t sway America’s oligarchs. Instead, we need forthright economic populism to bring them to heel.

Steve Schwarzman speaking to students
Blackstone Group CEO and cofounder Steve Schwarzman speaks with students at the Indian Institute of Technology Bombay in Mumbai, India, on March 4, 2020.(Himanshu Bhatt / NurPhoto via Getty Images)

While Donald Trump’s felony conviction for falsifying business documents is hurting him with independent voters, it has only increased his popularity with a demographic cohort that is much smaller in number—but still has an outsize role to play in election outcomes: the super-rich. Axios reports that a Morning Consult poll shows that 49 percent of independent voters think Trump should drop out of the presidential race because he is a felon. This strong negative result is already in evidence in polls showing that Trump’s persistent lead over rival Joe Biden has shrunk and the presidential race…

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