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Message
How/why do wealthy people vote Democrat.
Posted on 9/21/23 at 5:49 am
Posted on 9/21/23 at 5:49 am
I had a meeting with an attorney to establish a Trust. We were discussing life insurance and she raised concerns about the planned death tax going into effect in a few years. She told me that this could get delayed/extended/thrown out if the Republicans win the majority and continue to fight back. It was another reminder of the hatred Democrats have for affluent families.
If you are in that position, why vote Democrat? The only thing I can think of are the ultra wealthy celebrity types believing in helping out fellow Americans and the perceived notion that Republicans are greedy and want everything they earn to keep for themselves. I think Republicans believe that you can help out people/charities on your own terms instead of the government taxing you.
Why are wealthy people voting Democrat?
If you are in that position, why vote Democrat? The only thing I can think of are the ultra wealthy celebrity types believing in helping out fellow Americans and the perceived notion that Republicans are greedy and want everything they earn to keep for themselves. I think Republicans believe that you can help out people/charities on your own terms instead of the government taxing you.
Why are wealthy people voting Democrat?
23
Posted on 9/21/23 at 6:12 am to Mariner
In my experience, people vote one way or another based on a handful of issues important to them.
Personally, I voted based on what will keep more of my earned money in my pocket. Most other things politicians pass legislation on aren’t as important to me as that.
I’ve spoken with people who put social issues higher than tax issues and they vote left wing, regardless of income level.
That might have something to do with it?
Personally, I voted based on what will keep more of my earned money in my pocket. Most other things politicians pass legislation on aren’t as important to me as that.
I’ve spoken with people who put social issues higher than tax issues and they vote left wing, regardless of income level.
That might have something to do with it?
Posted on 9/21/23 at 6:12 am to Mariner
Government programs and welfare makes them feel better about their wealth. And it's a lot easier to make money and build wealth off of people who vote for democrats
Posted on 9/21/23 at 7:00 am to TheOcean
quote:
And it's a lot easier to make money and build wealth off of people who vote for democrats
Interesting.
Posted on 9/21/23 at 7:08 am to TheOcean
quote:
And it's a lot easier to make money and build wealth off of people who vote for democrats
Is it because they don't ever want to do any kind of work themselves?
Posted on 9/21/23 at 7:15 am to TheOcean
quote:Then these are people who don't understand how to be charitable on their own terms but instead support vote-buying politicians. The government doesn't need to be involved in every aspect of life.
Government programs and welfare makes them feel better about their wealth.
Posted on 9/21/23 at 7:33 am to Mariner
Well the idea that Democrats tax the rich and Republicans don’t is wrong in the first place.
Posted on 9/21/23 at 7:41 am to RoyalWe
quote:
Then these are people who don't understand how to be charitable on their own terms but instead support vote-buying politicians.
Option 1: donate money to the charities of your choice. Cancer research, woke social programs, the church, etc.
Option 2: let the government tax you so that they can send the money to Iran and Ukraine
Posted on 9/21/23 at 9:11 am to Mariner
to increase taxes on others while getting loopholes for themselves.
This post was edited on 9/21/23 at 9:12 am
Posted on 9/21/23 at 9:14 am to Mariner
quote:It may depend on how you define "affluent".
It was another reminder of the hatred Democrats have for affluent families.
The billionaire class plays by different rules. E.g., borrowing against assets instead of directly cashing them, Structuring international foundations to eliminate inheritance while generationally impowering family. Etc.
Posted on 9/21/23 at 9:17 am to Mariner
My Dad always said it's easy to be a Democrat/liberal if you are very rich. As we see by public tax returns from the mega rich politicians, the wealthy are smart enough to use the tax code to their advantage and not show their wealth on paper and pay less of their income in taxes after deductions.
People with generations of family money have mega trusts set up to shelter their money from taxes. It's the big "ouch" that should make you rethink being a Democrat when you are a regular W-2 worker with none of this in place and you realize how much of your income the government takes. Point is it is easy to spend other people's money when it doesn't really effect you that much.
People with generations of family money have mega trusts set up to shelter their money from taxes. It's the big "ouch" that should make you rethink being a Democrat when you are a regular W-2 worker with none of this in place and you realize how much of your income the government takes. Point is it is easy to spend other people's money when it doesn't really effect you that much.
Posted on 9/21/23 at 9:43 am to Mariner
The Democrat party is the party of keeping the rich rich and the poor poor. Once you view things through this lens then everything starts to make sense.
I’m not saying the republicans are any better about this but at least I don’t have to bend my social views either (well I do but not anywhere as much)
I’m not saying the republicans are any better about this but at least I don’t have to bend my social views either (well I do but not anywhere as much)
Posted on 9/21/23 at 9:45 am to Mariner
Lockdowns helped Amazon.
Big government means big government contracts.
Food stamps help CEOs of national grocers.
Defense spending helps defense contractors.
501c organizations love big government grants.
Once you get out of the small business, professional class who are too busy to do much other than work, the big government crowd soaks up all the money.
Megacorp that runs the hospital gets way more money than a general surgeon taking night call.
Follow the money.
Big government means big government contracts.
Food stamps help CEOs of national grocers.
Defense spending helps defense contractors.
501c organizations love big government grants.
Once you get out of the small business, professional class who are too busy to do much other than work, the big government crowd soaks up all the money.
Megacorp that runs the hospital gets way more money than a general surgeon taking night call.
Follow the money.
Posted on 9/21/23 at 9:56 am to Mariner
This is poli board shite, but you should have to pay an inheritance tax. Sorry.
Ain't hard to make the money back, we're 33t in debt, deal with it.
Ain't hard to make the money back, we're 33t in debt, deal with it.
Posted on 9/21/23 at 10:00 am to Mariner
I used to believe that Repubs were for less taxes and less government. (Don't misconstrue that for me being pro-Dem now.)
Now I believe that everyone that has anything to do with our government is just there to line their own pockets in any way that they can. And big corporations/pharma/finance are dictating to the DC puppets how their pockets are lined.
And they hate anything or anyone who might interfere with that.
So pay attention to who the entire establishment attacks.
For more educated and entertaining version of this philosophy check out some Jimmy Dore podcasts.
To answer your question, various reasons, but some probably truly believe the dems are on the right track, others just know that they will be kicked out of their tribe should they voice otherwise.
Now I believe that everyone that has anything to do with our government is just there to line their own pockets in any way that they can. And big corporations/pharma/finance are dictating to the DC puppets how their pockets are lined.
And they hate anything or anyone who might interfere with that.
So pay attention to who the entire establishment attacks.
For more educated and entertaining version of this philosophy check out some Jimmy Dore podcasts.
To answer your question, various reasons, but some probably truly believe the dems are on the right track, others just know that they will be kicked out of their tribe should they voice otherwise.
This post was edited on 9/21/23 at 10:02 am
Posted on 9/21/23 at 10:55 am to j1897
quote:
This is poli board shite, but you should have to pay an inheritance tax.
Yes, but 40%???!!!!
Posted on 9/21/23 at 11:02 am to Mariner
Which state has 40%?
Posted on 9/21/23 at 11:38 am to Mariner
Case in point: In the last tax bill, much theater was made about Kristin Sinema's (D) vote being the critical vote to get it past R opposition. They used her - and she used them - to sneak in the compromise they really wanted. In the pre-compromise bill, PE groups and hedge funds took a big hit on the carried interest deduction, while residents of states with high property taxes - CA and TX to name two - got a break with a rise in the amount of property tax that could be deducted. Sinema's "compromise" put the carried interest deduction back in, and removed the rise in property tax deduction.
The property tax deduction would have helped the "rich" - those from about the 80th percentile up to about the 99th percentile, which are the people who pay the vast bulk of taxes. The 99th-100th could care less about that, because their property taxes are capped or avoided in various ways.
The carried interest change though benefited ONLY the top 0.5%, perhaps even only the top 0.05%, who are overwhelmingly D donors - Larry Fink, etc.
The D's know who butters their bread, and their donors know who can be bought. They hated Trump because he was too wealthy to be bought.
The property tax deduction would have helped the "rich" - those from about the 80th percentile up to about the 99th percentile, which are the people who pay the vast bulk of taxes. The 99th-100th could care less about that, because their property taxes are capped or avoided in various ways.
The carried interest change though benefited ONLY the top 0.5%, perhaps even only the top 0.05%, who are overwhelmingly D donors - Larry Fink, etc.
The D's know who butters their bread, and their donors know who can be bought. They hated Trump because he was too wealthy to be bought.
Posted on 9/21/23 at 1:02 pm to Mariner
Many wealthy family starts with a bootstrapping individual. Very conservative. Then the next generations don't do crap to earn it and go to elite colleges. It is just self loathing and groupthink from there.
Once you get into that cocktail circuit you never want out. It is your entire identity. And those in the cocktail circuit think they know what is best for everyone. They should help us peons out by ruling over us. So they become Democrats.
Then tons of wealthy conservatives have Progressive kids in the cocktail circuit they don't want to hinder them and their status. Plus they have large companies that they don't want boycotted so they say whatever is Right Think publicly. They are too old to fight that fight and just want to remain wealthy.
Once you get into that cocktail circuit you never want out. It is your entire identity. And those in the cocktail circuit think they know what is best for everyone. They should help us peons out by ruling over us. So they become Democrats.
Then tons of wealthy conservatives have Progressive kids in the cocktail circuit they don't want to hinder them and their status. Plus they have large companies that they don't want boycotted so they say whatever is Right Think publicly. They are too old to fight that fight and just want to remain wealthy.
This post was edited on 9/21/23 at 1:04 pm
Posted on 9/21/23 at 1:16 pm to Mariner
There are issues of importance beyond tax rates. And besides, rich people tend to have fantastic financial planners and tax preparers.
This post was edited on 9/21/23 at 1:20 pm
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