James Kwak asks, Why is the GOP Suddenly Turning Against College? He answers:
because of two historical trends. One is globalization. The other is the anti-tax revolution.
... Today those elites have realized that they can maximize wealth for themselves and their grandchildren by cutting their own taxes (especially taxes on investment income and the estate tax), letting public education deteriorate, and either hiring workers overseas or investing in overseas assets.
... when you have hundreds of millions of dollars invested all around the world, the health of the American economy is pretty irrelevant to your family fortune. Most Americans can't say the same.