I would hope we don't have that many professors running around out there. Don't forget the lawyers and physicians. And many public school teachers (all union members) have advanced degrees. Virtually every therapist who's willing to feel your pain for 50 minutes at a crack has an advanced degree (and 80% of these folks entered their field because of their need for therapy). Many librarians (isn't Laura Bush the first First Lady to hold a master's degree?). And, don't forget all the city, state, and federal bureaucrats of one sort or another who are encouraged to obtain their master's of public administration and put in their time stacking blocks and solving crossword puzzles to earn it.
Just what "post-graduate degreed" people went for Kerry? I'll bet when they break it down a huge % are worthless degrees like women's studies or sociology. M.D.'s likely went heavy for Bush, and J.D.s probably heavily Kerry. Not all "educated" people are smart!