Income and Voting
Paul Krugman provides a spreadsheet showing that, as family income rises, so does the tendency to vote Republican. As of the 2004 election, Democrats won handily among voters in households with incomes under $30,000 a year and Republicans won among those with households of $50,000 and higher; the $30,000-$49,999 bracket is essentially a wash, with Democrats having a 50-49 edge.
That Tucker Carlson repeatedly says otherwise is apparently of great interest to Krugman and Media Matters. Otherwise, I’m not sure how much this helps Democrats. While it ostensibly reinforces the “Republicans are the party of the rich” meme, few people, indeed, think $30,000 is the magic threshold dividing the middle class from the elite. Indeed, even $50,000 is just barely above the median. From the Census Bureau:
I’m not sure that “Party of people without a halfway decent job” is really an ideal platform. Perhaps, “Vote for us and we’ll help you become a Republican” would work?
The petit bourgeoisie millionaires were passionately for Bush: Those worth between $1 million and $10 million favored Bush by a 63-37 margin. But the haute millionaires, those worth more than $10 million, favored Kerry 59-41.
But at some point, millionaires get so rich that they don’t really have to worry about how to pay the mortgage, or for that new Bentley. And if you can live off the tax-free interest of your municipal bonds, it really doesn’t matter whether the top marginal income tax rate is 33 percent or 39 percent.
Again, though, I’m not sure how this helps the Democrats. “If you don’t care how much of your money the government takes, vote for us” isn’t exactly catchy, either.