Posted on 11/10/2008 12:32:39 PM PST by drzz
For several years, I've been writing about Bushenfreude, the phenomenon of angry yuppies—who've hugely benefited from President Bush's tax cuts—funding angry, populist Democratic campaigns. I've theorized that people who work in financial services and related fields have become so outraged and alienated by the incompetence, crass social conservatism, and repeated insults to the nation's intelligence, of the Bush-era Republican Party, that they're voting with their hearts and heads instead of their wallets.
Last week's election was perhaps Bushenfreude's grandest day. As the campaign entered its final weeks, Barack Obama, who pledged to unite the country, singled out one group of people for ridicule: those making more than $250,000. At his rallies, he would ask for a show of hands of those making less than one-quarter of $1 million per year. Then he'd look around, laugh, and note that those in the virtuous majority would get their taxes cut, while the rich among them would be hit with a tax increase. And yet the exit polls show, the rich—and yes, if you make $250,000 or more you're rich—went for Obama by bigger margins than did the merely well-off. If the exit polls are to be believed, those making $200,000 or more (6 percent of the electorate) voted for Obama 52-46, while McCain won the merely well-off ($100,000 to $150,000 by a 51-48 margin and $150,000 to $200,000 by a 50-48 margin).
(Excerpt) Read more at newsweek.com ...
Because they are suicidal?
Guilt-ridden?
Or, perhaps they know their heads will be on the chopping block first and are trying to make friends?
This article assumes that the ‘wealthy’ Americans are acutally Republican. Well, where I live, I saw 10 AMG Mercedes/Lexus/Infinity with Obama stickers to 1 average car with Palin sticker.
AND - Did they follow these people into the voting booths?
How do they know for certain that these people actually voted for McCain?
They're A Bunch of Stupid A$$ed Morons, that's why!
That’s a good point. I never looked at opposition to tax cuts as a form of rent-seeking behavior, but not that you point it out, it makes perfect sense.
Yeah, I think guilt has something to do with it. But the real rich bastards voted for Obama not because they’re rich but because they didn’t really work for their money, at least not in the traditional sense. Consequently, they have a sense of guilt about their ill gotten booty. I know that most of my friends who really worked their asses off to get where they are would never vote Democrat. I think Buffet and all those Silicon Valley people are also hypocrites. If they really would give life to their beliefs they’d be giving that money away right now on street corners.
The thing is, many in that group derive most of their income from salaries paid by others. That is, they’re still just employees, with someone else bearing the entrepreneurial risk and having to deal with mundane concerns like making payroll. I don’t believe many in that group really understand what running a business is all about.
I graduated from a top 20 bschool. There are a fair number of individuals from my class who supported the socialist in the election. To me that is downright disturbing.
I guess the feeling is that we’re all making plenty of money, so what if the government takes a little more so long as the goal is for rainbows and puppies everywhere?
We are seeing the fruit of the left’s absolute control of public education and media in this country.
Ultimately, it will take the economy tanking under Obama and some of these nice cushy 6 figure jobs disappearing for these tards to get it.
One always wonders where such statistics come from.
On marketing or solitication forms that require my occupation and income, I always check “clergy” or “unemployed” for occupation, and lowest income box available.
I NEVER get unwanted telemarketing calls....
BINGO!
Keep in mind, we're talking about income levels, which is different than wealth. The truly wealthy are not really threatened by any changes to the tax laws. Their wealth is not taxed, except by the death tax, but the really wealthy are very good at insulating themselves from that. Furthermore, people with a lot of wealth are also good at not paying much income tax, because there are a lot of tricks in the tax code, if you can afford a good tax lawyer or accountant, to reduce your taxable income on paper.
When we talk about someone making $250k+, you're probably dealing with small business owners or educated professionals (like lawyers and doctors) who have busted their butts to get to this income level. My wife and I fall into the latter category- we're two lawyers living in the DC area. Our income is above $300K per year, but we are certainly not rich and we have worked hard to get where we are. But, we're the golden goose under Obama's tax plans- we have few, if any, ways to hide our income through tax loopholes. If the tax increase becomes too painful, we'll re-examine whether my wife will stay home with our son, or work a reduced schedule.
They inherited?
Ah yes. Liberals love their own profits, just hate everyone else’s. Limo Libs are the worst.
You’re right about those making $250,000 not being rich. A friend of mine is an MD. So is his wife. Two harder working and dedicated people you will not find. Seems that the wife’s salary goes entirely to pay the family taxes. I can assure you they didn’t vote Democrat. Fact is, Obama had many more servile supplicants who were very rich than hard working folks.
So does Obama keep his hand up in the air when he does that? Do the rest of the Democratic party like Kennedy and Clinton's raise their hands?
It's about one word: Abortion.
There’s a reason that Subway’s holding company is called Doctor’s Associates.
Is there any feasible way that tax increases can be made retroactive to cover the 2008 income?
Beat me to it. Besides, there’s nothing “crass” about social conservatives. Quite the opposite, in fact.
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