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liberalpragmatist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:38 AM
Original message
Why Do The Super-Rich Vote Dem?
I'm interested if anybody has a theory as to why the ultra-rich overwhelmingly vote Democratic. A clear majority of those with a net worth of between 1 and 10 million voted for Bush, but an equally clear majority of worth more than $10 million voted for Kerry (something like nearly 60%).

Slate wrote about this earlier suggesting that those who had more than $10 million didn't worry about changes in the tax code b/c they felt more financially secure, which is plausible.

What do you guys think?
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El Fuego Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:42 AM
Response to Original message
1. They're so rich taxes don't matter to them
I think $5,000 to them is like $5 to most of us.

(OK so I've got class envy...) :eyes:
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MAlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:43 AM
Response to Original message
2. More secure people are able to look longer term.
Same reason why MNCs are able to look out for the environment while local or smaller firms are less able to do so...their financial security is not riding on the profit margin for the next quarter. Therefore, they can look long term and see what's best for the economy and market and society as a whole, and with less immediacy.
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IronLionZion Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:45 AM
Response to Original message
3. A strong economy where workers are employed and financially secure
is good for business. Not enough people realize that.

Also, a lot of entertainers and urban rich people are social liberals.
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catnhatnh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:07 AM
Response to Original message
4. OK...how about this...
a certain percentage of people whom are born rich will consider their wealth as an earthly sign of Gods approval and as proof they are more worthy than most and deserving of praise....this produces a Donald Trump or almost any Bush.
Another percentage will realize that in the baseball game of life,they were born on third base and owe a debt to other team members who were born without even an at bat....this produces an FDR,a John Kennedy,or even a John Kerry...
It all comes down to mindset and I find one noble and the other repugnant.Try to picture FDR cheating on taxes.Now try to picture Bush acting with integrity...,.
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GOPBasher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:09 AM
Response to Original message
5. It's probably cultural issues.
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newportdadde Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:13 AM
Response to Original message
6. Do you have any info on the voter breakdown?
Most of the info I've seen shows voters swing Republican on $ around 75k and then big time once over 200k.

If these ultra rich did infact vote for Kerry its probably because their income is almost entiredly dividends etc. For them Democrats make them more money long term as the stock market has shown consistenly it does better under a Democratic administration.
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Ravenseye Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:24 AM
Response to Original message
7. I'm not convinced the super rich vote democrat
Sure there are a few big names we know about..

If it's true though, I'd hypothesis that those people valued at 1-10 million are in a sort of 'unstable' position of wealth. They are either still working hard to obtain more wealth, or they are struggling to prevent themselves from losing wealth. They're very self-centered at this stage and want to save every penny they can.

Those in the mega-wealthy range though I posit are not in this position. They have far more wealth and are far more secure than a simple millionare. The thought of protecting or losing their wealth is an afterthought. As long as they don't act dumb, they are secure. Therefore, once they feel secure, they start becoming philanthropists. They want to help other people and doing so doesn't threaten them anymore.
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ThorsHammer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:51 AM
Response to Reply #7
9. Well said
I'm no expert, but the stability point idea would explain a lot. Taxes don't really affect the very rich that much, which allows them to vote based on social issues. Since many (most?) are liberal to begin with, and there is no real balancing act between economics/social issues for them, they go Democrat.
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GreenPartyVoter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:49 PM
Response to Reply #7
16. True. Who knows what the actual break down of the super rich
demographic of voters is?

----------------------------------------------------------
Save our country one town, county, and state at a time!
http://timeforachange.bluelemur.com/electionreform.htm#...
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jarab Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:36 AM
Response to Original message
8. We don't really know they vote Dem just
because they act or say things to intimate they have voted with us. Sometimes I really wonder.

a kick!

...O...
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PurityOfEssence Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:09 PM
Response to Original message
10. For one thing, they UNDERSTAND MONEY
Gluttonous knee-jerk greed isn't good for anyone. Those with scads of money know that regardless of taxation, they'll still have scads of money. It's the scrabbling second-raters who hate the thought of anyone else ever having any comfort.

Society is regulation. Stability comes from reasonable opportunities for all. Those who've really socked it away often are well past the point of needing to throw bones at beggars.

Lots of people in the economic stratosphere also realize that it's important for all that all have something. There are plenty of dicks there too, and much of the impetus is self-interest, but the human creature is a mixed bag, and whether fundamentalists understand it or not, much of the bag is gentle and good.

To crash the system for the benefit of the sick and insecure few will benefit no one. It's much like the end of the Romanoffs or the Bourbons at this point: let them eat nothing. Systems can't borrow from the past and suck off the future and still survive; the raging greed of the present time is unsustainable.

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justiceischeap Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:30 PM
Response to Original message
11. Obviously it is questionable whether they actually vote Dem
but my hypothesis would be how they were raised and the environment they were raised in. For example, compare someone older who is rich, say Martin Sheen who came up during the sixties and fought against the "man." I don't know his history but he probably came from a working-class family. Now take Britney Spears (please someone take her far far away!), she was probably raised by repugs, so she aligns herself with those values.

I'm Dem, first because my parents were, second, when old enough to really understand, because it makes absolutely no sense to be repug. They are against everything but power and money and though I'd love me some power and money, I have been instilled with moral values, hence, have a conscience (something I fear most repugs lack).
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JI7 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:37 PM
Response to Original message
12. same reason there are poor people who vote Republican
Edited on Tue Jan-11-05 08:38 PM by JI7
there ARE Democrats who believe in a fair and just economic and social system. many Democrats know they are not rich just because of their own work but because of what society has provided for them . or that they had opportunities that many others didnt. and of course many rich people are prochoice, pro gay rights , environment etc .


just as there are poor people who DO think a person's financial situation is a result of their own work. the republicans have convinced many poor whites that they struggle because some minority wrongly took their job because of affirmative action. and some poor people really do care about things like abortion, gays, etc to vote republican even if they know it's not in their financial interest.

on edit i want to add that i bet the DU members overall are much better off financially than the Democratic Party or even all Americans are overall.
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Justitia Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:42 PM
Response to Original message
13. Uh, I know some in the $1 - 10 m range, and they are solid Dems
They are all highly educated and well-rounded travelers who have the time, inclination and $$ to study the world beyond the US borders. I would guess it is this combination (much, much moreso than any "tax" question) that leads them to the Democratic side of the isle.

They are also incredibly intelligent with an uncanny knowledge of history (world & US) and world culture. They have curious minds and the means to explore mentally and physically.

I only know one person in the above $10 m range, and while he supports Bush, it is very, very soft support, having more to do with brushing up against him socially here in Texas.
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Eric J in MN Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:46 PM
Response to Original message
14. Where do these statisitcs come from? (nt)
nt
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rolleitreks Donating Member (282 posts) Send PM | Profile | Ignore Tue Jan-11-05 08:48 PM
Response to Original message
15. Guilt. n/t
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Cheswick2.0 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 08:51 PM
Response to Original message
17. they are probably better educated
The better educated you are the more like you are to vote democratic.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Tue Jan-11-05 09:36 PM
Response to Reply #17
20. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
blm Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:03 PM
Response to Original message
18. Or, the super-rich realize that money isn't EVERYTHING and can be used to
build a better society.


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YNGW Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:04 PM
Response to Original message
19. Power
All the rest of the speculation so far is BS. Power. Follow the money.

Some stake their claim with the Democrats, some with the Republicans. Better to be a big fish in a little pond. In other words, even if you're the party out of power, if you have cash, then the party leaders will work for you and your desires. If you're the party in power, even better.

A lot of the super wealthy are old money and have staked their claim with the Dem party long ago. Believe me when I tell you, what they desire the party to be is what it will be. Rank and file members; irrelevant. DUers can talk till they're blue in the face. Doesn't matter. What the money says they want the party to do is what the party will do. Period. Just watch.
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Liberal In Texas Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:47 PM
Response to Original message
21. "They feel guilty"
That's what a freeper told me once. People like Warren Buffett (Kerry's economic adviser) feel guilty about having all that money.

What crap.
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leesa Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:08 PM
Response to Original message
22. Do you have somehthing to back that up?? Sounds VERY unlikely.
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Stinky The Clown Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:22 PM
Response to Original message
23. I think the same reasons and the same percentage as the rest of the
electorate vote one way or another. The fact is, more of us identify with the liberal stance than with the conservative stance on most issues. The country is close to evenly divided. More educated people tend to be more liberal. Therefore it follows that more wealthy people are more educated and therefor more likely to be liberal. I think this issue has little to do with money and more to do with thoughtfulness.

And as soon as I say this, I think of la famiglia diavlo Bush ..... Scaife ..... etc. :shrug:
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NVMojo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 10:23 PM
Response to Original message
24. there are people in all socioeconomic realms who have a conscience
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