It is dumb, as long as your goal is to be as rich as possible and not be as powerful as possible

You will generate better profit from a rich population; they’ll also advocate for your business if you openly support their ascension, and you’d lose nothing in profits by doing so

But you do lose power. Power over people, and the benefit of doubt that the government won’t strike down on you if you appease, and the people will have more important shit to focus on now that their benefits are gone

Both parties did this, republicans can do it more outwardly without causing a split in parties