Business in general--and the top one tenth of one percent in particular--have no reason to support democracy. Democracy is messy. It changes with the public mood. It always runs the risk of confiscatory policies. What the most wealthy desire most of all is stability. The stablity of a benevolent (or extremely limited) king. The stabilty of a friendly autocrat. A stabilty where that which has been stolen remains stolen and in their hands. A stabilty that stifles competition and innovation. There's a reason "class traitors" are rare. When they do show up (for example, Joseph Kennedy under FDR) it is because they believe they will lose it all if they aren't willing to sacrifice half to protect the rest.

It would be easy to blame this on capitalism, but that misses the point. We have nothing like capitalism. In real capitalism, government functions as a counterweight to the excesses of capitalism and capitalists. Instead, the US is one of a series of governments worldwide that have been captured by the power of transnational wealth. Call it "late-stage capitalism" if you like. It could just as easily be described as "early-stage feudalism".