The Mystery of The Conservamind

I've always struggled to understand how cosseting the wealthy ever became a tenet of 'populist' conservatism. Why do Main Street plebs get all mad when anyone proposes skimming off the Wall Street money pile? Why do rich guys who do nothing but rip off working people between rounds of golf end up with so many of those same working people cheerleading for them? Why would a middle class conservative rather starve than see top one-percenters forced to chip in more? Truly, the 'Conservamind' must be distinct from the normal mind for this to seem fair or logical.

For an example of the conservamind in action, check out Red State. They're summarizing Obama's SOTU speech as a tax-hiking manifesto to get the readers all fired up. But the examples of "tax raising" from Obama's speech they cite are:

"A fee on the biggest banks."

"Slash the tax breaks for companies that ship our jobs overseas."

"We will not continue tax cuts for oil companies, investment fund managers, and those making over $250,000 a year."

Like I say, how could this possibly trouble the conservamind? Am I missing something or are they?