Increasingly, both the educational and financial elite in this country are supporting Democrats.ДЄnd I donвЂ™t mean the left by that, I mean the Democratic party. And the United States is a little bit of an exception to that picture. I mean, Thomas Piketty did a paper recently that talked about the Brahmin Left and the Merchant Right, where the traditional picture is the wealthy people in society tend to support the right, whereas people who are educated tend to support the left. And my question is, who do those people vote for? Where are they investing their money? What institutions are they sponsoring? And you know, I think overwhelmingly, weвЂ™ve seen that thereвЂ™s been a shift in how those people behave politically. My way of thinking about politics is probably closer to the definitions that the Occupy Movement came up with, which is the 1% versus everybody else. I donвЂ™t think of it in terms of Democrats versus Republicans. And so I donвЂ™t think of politics in terms of blue versus red. One of the major stories that I spent a lot of time on in the last couple of decades is the rise in income inequality. So first of all, I spent most of 10 years after the 2008 financial crisis covering Wall Street. I started by asking Matt why he wrote the tweet.

She was raised solidly Republican and has written about how the people MattвЂ™s referring to, the Fox News watchers, have wielded their power to intimidate Congress. Michelle is a member of The New York Times editorial board and has been covering national politics since the Clinton administration. So I invited Matt on the show, along with Michelle Cottle. Is it held by the people who watch Fox News, including your neighbors and Republican representatives, senators, judges, and the former president of the United States, or the financial, educational, political, elite, like Wall Street, academia, big tech. However, his tweet offered what I thought was a really interesting frame to think about where power actually lies in America. And heвЂ™s right a lot of big issues, but I think heвЂ™s wrong on this. He was a lightning rod, often because he criticizes mainstream media like The New York Times. He famously argued that Goldman Sachs was a, quote, great vampire squid wrapped around the face of humanity. HeвЂ™s a longtime political and financial journalist who covered the Bush, Obama, and Trump administrations.

I have known of MattвЂ™s work for a long time. And I think theyвЂ™re the people to be worrying about.вЂќ The financial, educational, political elite with all the power is on the other side. It read, вЂњFox is one channel that no longer represents real institutional political influence in this country anymore. And I came across this tweet by the writer Matt Taibbi. IвЂ™m Jane Coaston, and this is The Argument.Д®arlier this month, I was scrolling Twitter, as you do. Transcript Is Fox News Really All That Powerful? A debate over who has power in American society.

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