Damning New Report ROCKS Joe Biden - Trump Gets The WIN

Damning New Report ROCKS Joe Biden - Trump Gets The WIN

A new and critical report poses significant challenges for President Joe Biden while offering a boost to his Republican rival, former President Donald Trump.

The Daily Caller News Foundation published a report highlighting how the populist movement aligns with a shift in wealth distribution between average Americans and the elite class, indicating a positive trend for Trump.

"The level of wealth held by the bottom half of Americans in 2019 totaled $1.5 trillion less in liquid net worth compared to 30 years earlier when factoring in the amount of consumer debt that is being held, while the total wealth of the top 10% has remained largely unchanged," based on calculations by Oren Cass, executive director of American Compass. The report notes that the decrease in wealth for many Americans has paralleled a populist political shift in the U.S., largely driven by Trump.

In 2021, "Professors from Georgetown University identified that long-term trends toward populism are being fueled across the world by globalization, outsourcing domestic jobs, and automation, leading to a decline in manufacturing work. The professors agreed that the rise in recent populism has been 'quite unprecedented,'" the report stated.

This backdrop explains why Trump's populist policies, including boosting domestic manufacturing, reducing illegal immigration, and supporting trade protectionism, have garnered support.

The former president has pushed "America First" policies, which starkly contrast with the globalist approaches favored by many in the Democratic and Republican establishments.

"Populism is always a symptom of the political establishment’s failures, and that’s just as true today as it ever was," E.J. Antoni, research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, commented to the Daily Caller News Foundation. "People are angry that those in power have created a financial system, fueled by the Federal Reserve, that benefits those who collaborate with government bureaucrats at the expense of the common man. There is palpable anger today, especially among younger Americans, who feel they have done everything right but can’t succeed in such a system."

"I’m not surprised to see a divergence between the wealthy and the rest of the nation," Antoni continued. "The inflation of the 30 years in question has caused asset prices to rise significantly, which has benefited asset holders but helped impoverish everyone else. This phenomenon is felt acutely today between homeowners and renters. The constant erosion of income and savings has made it almost impossible for many Americans to get ahead."

An increase in foreign-born workers has aided the economy but primarily benefited those workers.

"But is the fact of millions of immigrants crossing illegally into our country in search of work, cheered on by the corporate class and the governing party in defiance of the obvious wishes of most citizens, a sign of an especially robust economy or a truly broken polity?" Cass questioned in a Substack post. "And which economy is more robust, anyway: one that sees higher GDP growth because immigrants are streaming so quickly over the border, or one that sees higher wage growth because labor markets are tight?"

As populist policies gain traction in the United States, Biden, who is facing a tough re-election battle, has shifted some policies toward populism, such as imposing trade tariffs on China, to win over labor voters.

"This is just not a sustainable equilibrium," Cass told the DCNF. "In a democracy, you can’t expect people to support this and allow it to continue, and so either the so-called elite have to be willing to concede that this is not a good model and they need to accept reforms that are going to bring these incentives back into alignment or they have to get prepared to be thrown out."

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