The Rich Shifting to the Democrats

[Toro]

For nearly the entire 20th century, a simple formula held: Businesspeople like Republicans and don't like Democrats. Republican politicians and voters heartily embrace free trade and lower taxes, while Democratic politicians and their constituencies cotton to protectionism and higher taxes. Over the past century, racial, ethnic, and geographic realignments altered the shape of the national parties beyond recognition. But when it came to the wealthy, there was less movement than in the facial muscles of an over-Botoxed newscaster. Until now.

Democrats, who have never out-fund-raised Republicans in the modern political era, are kicking the tar out of their rivals this campaign cycle. Through the first half of this year, Democratic entities—congressional, presidential, and party operations—raised $388.8 million, compared with $287.3 million for their Republican counterparts, according to the Wall Street Journal. In the third quarter, the top three Democratic candidates—Hillary Clinton, Barack Obama, and John Edwards—raised 50 percent more money than the top four Republican candidates. ...

But it's not just the ultra-rich who are abandoning Republicans. CNN's exit poll last fall showed that voters in the East making between $150,000 and $200,000 favored Democratic candidates by a 63-37 majority. Since 2004, the percentage of professionals identifying themselves as Republicans fell from 44 percent to 37 percent, according to a September Wall Street Journal/NBC News poll. The same survey found 59 percent of Republican voters agreed with the statement that free trade has been a negative for the country. ...

http://www.slate.com/id/2175725

 

[dilloduck]

http://www.slate.com/id/2175725

Why would anyone waste their money when the election is all but wrapped up already?

 

[Annie]

Why would anyone waste their money when the election is all but wrapped up already?

Hey, if voters in the 'East' agree, rich they are, the rest of the country will be in lockstep. Hey, Kennedy and Kerry come to mind, they are representative, no?

 

[Doug]

Why would anyone waste their money when the election is all but wrapped up already?

It's an investment, a purchase of assets, or of a share in assets, rather than a donation.

If this trend continues, look for a change of heart by many conservatives on campaign finance reform.