As we all know, Donald Trump ran as a populist, but chose to govern as a traditional Republican–at least on economic issues. Warren clearly intends to run as a genuine populist, not a faux one. What does that mean for the Fox News crowd? You have to wonder what they think when they hear Sean Hannity attack her tax and defend the GOP by talking about how vital the yachting industry is to our economy.
Warren is effectively making a bet with her wealth tax plan, as well as other parts of her program, that the additional white working votes she wins will more than offset the potential votes and contributions she loses from socially liberal millionaires. The bet presumes that, for a large number of the white workers who voted for Trump in 2016, economic interests prevail over cultural concerns. Personally, I think she’s wrong about that, and the bet will fail, but I could be wrong. We’ll see next year.