Just as Covid had the capacity to profoundly affect American politics, so to the oncoming economic hardship might just turn system upside down. However, the tendency will be for the people to vote for Huey Long, just as you observe.
Reagan and the supply siders found a way to play Santa Claus and steal the Dems thunder with tax cuts, but with our level of deficits and a huge share of the population no longer paying income tax that serving of dessert can’s be stomached either.