Stock market went down a lot. And no, not everything at Walmart goes up 34%, food is not imported from China etc, most of the stuff poor people spend money on like home and food and used cars and services wont go up that much.

Yes, in as much as it can be true for anything, because they make their money from poor people spending.

Edit: as a follow up, you can basically think of this as the "Monkeys Reject Unequal Pay" experiment as implemented by those who are averse to socialism. If you're already poor, tanking the economy hurts you less than it hurts those who are benefitting.