Since 1789, left of center politics globally has basically derived from two threads: lifting up the poor & reducing socioeconomic power of the rich. Most people on the left & center left support both in theory but when push comes to shove choose to focus on one over the other.

In America, the left of center politics that revolves around the Democratic Party has almost always focused more on the former camp than the second, as major welfare state expansion were the core goals of the FDR, LBJ, and Obama presidencies, as well as for Clinton.

Since Occupy Wall Street though (and probably in part due to the downward mobility of some in the professional class), a significant and growing chunk of the party has focused more on reducing the position of the rich rather than supporting the poor.

The Biden Admin was arguably the first Democratic Admin whose domestic policy was more focused on that precept than helping the poor, as welfare state expansions were generally minor & abandoned by 24while the policy efforts aimed at changing socioeconomic power were persistent.

That many in Democratic Party still haven’t grappled with the failure of Biden Admin (& how focusing on fighting rich didn’t make the working & middle class rise from their desks to support the professional class who cares about intra elite power) is how this referendum happens.