The basic flaw (I haven't read anything other than the chapter summaries) seems to be the assumption that "conservative" and "wealthy" are congruent sets. After all, who's going to bother checking on the politics of, say, a bank president or member of the Fed?

This allows the author to attempt to label the following as "conservative" ideas:

Supporting illegal immigration

Restricting competition with unnecessary government restrictions and licensing requirements

The Federal Reserve and its policies (!!)

...among others.

It might be instructive to review the actual origins of these policies.