Posted on 10/01/2020 9:09:49 AM PDT by karpov
The folks who are the most irredeemably Republican are small business owners. The folks who embrace the new Democratic Socialism and the general concept of bigger government are a mixture, but one of the wealthiest components of that mixture has been people who inherited money. People who didn’t have to work for the money don’t seem nearly as worried about the negative effects of government restrictions on the market, e.g., minimum wage (make it illegal for those with low skill levels to work), more lavish welfare handouts (make it irrational for those with low/medium skill levels to work), and higher taxes (make it less attractive for anyone to work additional hours).
A classic example of inherited wealth is Laurene Powell Jobs. The person who made the money is Steve Jobs, not noted for his charitable inclinations or support for politicians. The woman who inherited the money, however, is all-in on one of the Democrats’ big goals. Her Emerson Collective‘s #1 “Priority” is increasing low-skill immigration the U.S. Steve Jobs might have been concerned that higher taxes to fund welfare benefits for low-skill migrants and their children would make it tougher for Apple to compete with rivals in China, for example. Laurene Powell Jobs, however, won’t be similarly constrained.
[Promoting low-skill immigration makes sense from her personal perspective (as it does for most elite Americans). She’s spending the wealth that her late husband accumulated through a charity and therefore won’t have to pay any taxes, regardless of what the rates might be. Regardless of the level of low-skill migration, her own lifestyle won’t change too much. How likely are the new arrivals to be able to afford a home anywhere near one of hers?
(Excerpt) Read more at philip.greenspun.com ...
And we now know that once it hits a certain threshold, money does not win elections.
John Kerry served in Viet Nam.
“Reporting for duty!” But he wasn’t running on his having been there. :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.