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Paul Krugman

By Paul Krugman

Opinion Columnist

After Donald Trump was convicted on 34 felony counts, the Heritage Foundation — a right-wing think tank that has, among other things, produced the Project 2025 agenda, a blueprint for policy if Trump wins — flew an upside-down American flag, which has become an emblem for support of MAGA in general and election denial in particular.

This action may have shocked some old-line conservatives who still thought of Heritage as a serious institution, but Heritage is, after all, just a think tank. It’s not as if upside-down flags were being flown by people we expect to defend our constitutional order, like Supreme Court justices.

Oh, wait.

But Heritage’s embrace of what amounts to an attack on democracy is a useful symbol of one of the really troubling developments of this election as it heads into the final stretch. Heritage presents itself as a defender of freedom, but its real mission has always been to produce arguments — frequently based on shoddy research — for low taxes on rich people. And its tacit endorsement of lawlessness illustrates the way many of America’s plutocrats — both in Silicon Valley and on Wall Street — have, after flirting with the crank candidacy of Robert F. Kennedy Jr., been rallying around Trump.

Why would billionaires support Trump? It’s not as if they’ve done badly under President Biden. Stock prices — which Trump predicted would........

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