Your right on target.
It’s also the Middle Class who is going to be destroyed by this. So much for the party that loves the MC.
The left HATES, with a visceral passion, the existance of the middle class.
They want a society in which commoners are dirt poor and under the thumb of the elites (them), and the elites are living the lifestyle they deserve simply by being “elite”.
Any pandering to a “strong middle class” is simply a lie to achieve the power necessary to completely destroy it.