In my opinion, it's because the two party divide has reached the point of extremism on both sides, and extremists act on emotion rather than logic or reason. Up until a couple of decades ago, they both did a good job of keeping their more extreme members out of sight and mind. Now they're embracing and amplifying them.
It's not extremism. It's plain old American capitalism.
Both parties are being funded by the same people, so both parties play ball with the same set of funders.