Chelsea, toxic asset? Byron York rightly mocks the Clintons for launching a campaign with an anti-inequality theme while Chelsea poses on the cover of Elle wearing a Gucci dress, Cartier bracelet, , etc. But the Chelsea “optics” are a little more complicated than the term “plutography” (gawking at the rich) suggests. As readers of Dana Thomas’ books know all too well, the market for Cartier bracelets isn’t the rich but the upper middle class. They wear them — well, I don’t know why, but it has a lot to do with status and at least a bit with snobbery. Which raises the issue of social equality. Which makes Chelsea’s cover shoot more toxic, not less. …

Update: “They’re working on her relatability,” a “former employee” tells Politico.