The Rest Is Politics: US

Podbit · The Rest Is Politics: US

200. Trump’s Immigration Crackdown Will Backfire

Explore episode Jun 29, 2026

Where this was said

The American Dream Is Fading: Polling the 250th Birthday

At 25:00 · chapter starts 22:45

The second half of the episode opens with Katty Kay presenting a portrait of national disillusionment befitting the 250th birthday. The peak of belief in the American dream was the 1950s and '60s; it fell off a cliff in 2008 and has never recovered. Today, only 51% of adults believe it still holds for them. The Pew Research data is no cheerier: 29% of US adults are satisfied with the country's direction, 69% are not; only 19% think the Founding Fathers would be pleased, 77% say they would be disappointed. A Fox News word-association poll found two-thirds of Americans reaching for words like 'failing,' 'divided,' 'struggling,' and 'corrupt.' Yet 81% still want to live in America. Katty Kay adds that the shrinking-middle-class story is better understood as growth at both extremes — a larger working class and a larger upper class — squeezing the middle out. She notes the extraordinary and ironic statistic that there is now more social mobility in the UK than in the US. Scaramucci reveals the top 20% control 87% of America's wealth, and attributes the structural distortion to the Citizens United feedback loop between the ultra-wealthy and elected politicians.

Business
The Top 20% Own 87% of the Wealth

200. Trump’s Immigration Crackdown Will Backfire · Jun 29, 2026 Business

The top 20% of Americans control 87% of the country's wealth. Scaramucci argues this isn't the result of hard work — it's a feedback loop between the ultra-rich and government, fuelled by Citizens United money buying politicians who then deliver tax cuts and corporate welfare.

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