My suspicion is that, basically, rich people don't like poor people - their way of life, their habits, tastes, values, dress, appearence, etc. Because class divisions often roughly fall along the same lines as race divisions, people are racist as a result of lack of class-consciousness.
E.g. White people think they don't like Mexicans, whereas in fact it's poor, less privileged people they don't like. But saying "I don't like poor people" makes one look selfish, it's easier for them to say "I don't like Mexicans." But I don't think rich Whites ever had a problem with rich Mexicans.
(Hmmm I hope I expressed that clearly enough.)
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