“On the Holmes Front,” with Frank Holmes
Left-wing protesters used to denounce “the Top One Percent” — but how would they feel about knowing President Joe Biden draws his support (and campaign cash) from the top 0.02 percent?
Biden’s 2024 reelection campaign coasts on the donations of America’s richest elites, the top of the top income earners who make up just 0.02 percent of the U.S. population.
The Daily Caller News Foundation did a deep dive of Federal Election Commission (FEC) records to find two-hundredths of one percent of Americans make up more than seven percent of donations to the Biden Victory Fund.
Analysts combed through reports from the 10 most affluent zip codes in the United States, where the median price of a home ranges from $4.25 million to $7.95 million — a full 10 to 20 times higher than the national average.
Biden pulled in more than $15 million in one weekend alone from ritzy suburbs in Los Angeles and Hollywood.
Residents in the nation’s 10 top-earning zip codes donated $7.5 million to Joe Biden, or $930 apiece on average.
The same people gave President Donald Trump $204,993 — less than one-half of one percent of his campaign haul.
In a way, I feel embarrassed dedicating my weekly column to pointing this out, —because it’s really not a story.
The exact same thing happened in 2020.
“Joe Biden has outraised President Donald Trump on the strength of some of the wealthiest and most educated ZIP codes in the United States,” reported The New York Times in its 2020 story, “The Two Americas Financing the Trump and Biden Campaigns.”
“In ZIP codes with a median household income of at least $100,000, Biden smashed Trump in fundraising, $486 million to only $167 million — accounting for almost his entire financial edge,” the story noted. Biden also outraised Trump at least four-to-one in areas where at least two out of three people had college degrees.
At the time, Biden’s entire fundraising advantage came down to just four states: California, Massachusetts, New York, and Washington state. Trump actually beat Biden in 28 states… but the Republican Party’s support doesn’t come from coastal elites; it comes from grassroots, heartland Americans.
“The findings paint a portrait of two candidates who are, in many ways, financing their campaigns from two different Americas,” stated the Times.
But they also paint a picture of candidates who serve two very different Americas — if not different countries.
President Trump was born into wealth, but he thought like a blue-collar worker. He ate McDonald’s, liked pro wrestling, and believed in an America that made things. He cracked down on businesses run by the Chinese Communist Party, created jobs for U.S, manufacturers, and gave the proceeds of Chinese tariffs to American farmers.
In the red-hot Trump economy, the poor and working-class got ahead faster than Americans at the top.
Even the Trump tax cuts actually benefited the middle class. “Tax cuts as a percentage of taxes paid in 2017 were largest for the lowest-income Americans and smallest for the top 1 percent, measured by adjusted gross income,” according to an analysis from the Heritage Foundation’s Adam Michel.
“I think that’s why Trump was so popular. He was the one guy talking to those people,” Trump rival and independent presidential candidate Robert F. Kennedy Jr. told Joe Rogan in June.
“I think that’s why Trump was so popular. He was the one guy talking to those people”.
On Joe Rogan, RFK Jr. explains why the middle class is angry about being wiped out in the US and why they support Donald Trump. pic.twitter.com/KgBObRM4uS
— Mythinformed (@MythinformedMKE) June 18, 2023
Joe Biden was born into a middle-class home but thought like a corrupt elitist. He wanted the best of everything: multiple mansions, a Corvette, international travel…and he was willing to sell out middle-class Americans in order to get them.
Average people are struggling harder than ever to get by in Joe Biden’s America.
Biden brags that he “created more than 13 million jobs”—but he’s counting jobs that disappeared during the Covid lockdowns as “new jobs.” Comparing apples to apples, the economy produced 1.3 fewer jobs than the same period under President Trump.
That means two million more Americans aren’t working since Biden became president.
The Americans able to find a job have been so hard-hit by inflation that they wonder if it’s even worth punching a time clock. Real wages haven’t kept up with inflation, which is still rampaging above its three percent goal.
Today, the average American needs to earn an extra $11,500 a year just to maintain the same standard of living they had on the day Joe Biden was sworn in as president.
America actually had a recession under Joe Biden—which is legally defined as six month of economic contraction—but the refused to call it by that name.
But that’s only one side of Biden’s America.
The 100 wealthiest Americans got $195 billion richer during Joe Biden’s first 100 days in office, according to the Democrat-owned financial website Bloomberg News.
That means the mega-rich earned nearly $2 billion a day.
Nice work if you can get it.
Biden’s so-called “Inflation Reduction Act” gave $271 billion in tax credits for green energy projects. But 90 percent of the green energy tax credits goes to companies with at least a billion dollars in sales.
It wouldn’t be so bad, but it’s not even Americans who really rake in the profits from Biden’s green energy boondoggles.
“According to the U.S. Department of Energy, China controls nearly 80 percent of the entire solar production supply chain, including 97 percent of solar wafers capacity, 81 percent of solar cell capacity, and 77 percent of global capacity for finished solar modules or panels,” the House Budget Committee reported in June.
As President Trump said during a 2020 debate, “Joe, you have raised a lot of money, tremendous amounts of money. And every time you raise money, deals are made, Joe.”
The rich love Joe Biden, Barack Obama, Bill Clinton—the entire crony machine that cuts sweetheart deals for their corporations while squeezing taxpayers to pay for them.
It was true in 2020 and, the numbers show, it’s true now.
That means, in less than 11 months, Americans have a choice: Do we want a candidate whose policies lift up and support the middle class, the huge majority of Americans? Or do we want to stick with a president whose only concern is how he can enrich people who are already wealthy, huge megadonors, his son’s Chinese business partners, and his own family?
It’s time Americans elected a president who works for the other 99.98 percent.
Frank Holmes is a veteran journalist and an outspoken conservative that talks about the news that was in his weekly article, “On The Holmes Front.”