Wednesday, July 2, 2008

Democrats, the Filthy Rich, and Obama

What is it about really rich people that seems in many cases to pre-dispose them to support of Democrats in general and Senator Obama in particular? Isn't it common knowledge that Democrats seek to redistribute wealth and most of the fiscal policies that Senator Obama espouses levy a heavy burden on the rich? Why do so many of the truly wealthy seem to vote so overwhelmingly against their own interests?

The answer is surprisingly simple. Because the truly rich are indeed so rich, there are no such things as "pocketbook" issues to them. They simply have so much money that there are very few foreseeable options that the federal government could undertake to divest them of their wealth that would actually make a meaningful difference in the way they live their lives. They care not if the capital gains rate is 15%, 25%, or 35%. Because social security represents a rounding error in their monthly cash flow, that which is deducted for it is even less significant, whether it is the first $97K of income or that above $250K. Their wealth insulates them from the issues that the rest of us find important. What does this insulation bring them? Why, the freedom to be socially conscious, of course, a luxury many of us are unable to afford.


SamShapiro said...

I was thinking the same thing today about the movie actors and why they mostly come out for the Democratic party and I reached the same conclusion, they make/have some much money that they can't be hurt...unless you're Ed McMahon.

The Conservative Wahoo said...

Many in Hollywood are perfect exemplars of this phenomenon.

Doc Milnamo said...

Look at Cambridge University in the 30's. The privileged attended, yet it was a hotbed of Marxism, to wit: Burgess, McLean and of course Philby amongst others. Many years ago while reading about the trio, I too asked the same questions and drew similar conclusions. "Because they can afford to"

Doc Milnamo

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