The evidence from Canada suggests that the Democratic Party’s strategy of taking such good care of the 1% (in the guise of being hard nosed austerity hawks) might be an electoral loser in the long run. From Robert Reich’s FB:
Tonight, Canadian politics veered left. Justin Trudeau’s Liberal Party captured a majority in Canada’s 338 seat-Parliament — thereby putting an abrupt end to nearly a decade of Conservative governance under Stephen Harper. Harper’s Conservatives went into the campaign pledging balanced budgets. In sharp contrast, Trudeau promised three years of deficits in order to more than double spending on infrastructure. The Liberals also promised to raise taxes on Canada’s “wealthiest one per cent” — earning more than $200,000 — so taxes on middle-class families could be lowered. Trudeau and the Liberals argued now is the time for Canada to invest in its future rather than embrace austerity economics, and that Canada’s rich should pay their fair share. Evidently most Canadians agree.