There has been much talk around here about whom the rich are voting for. I believe I have found the definitive answer. A survey of 493 millionaire families revealed the following:
More than three quarters of those worth $1 million to $10 million plan to vote for Sen. McCain. Only 15% plan to vote for Sen. Obama (the rest are undecided). Of those worth more than $30 million, two-thirds support Sen. Obama, while one third support Sen. McCain.
So there you have it. Ordinary rich people are Republicans, while the super-rich are Democrats. And it's a not just a small difference. McCain has the overwhelming support of lower-tier millionaires, while Obama has a super-majority of the upper-tier millionaires.
According to Robert Frank, lower-tier millionaires primarily vote Republican because of taxes, whilc upper-tier millionaires don't care about taxes, either because they are so rich they can afford to pay higher taxes, or because they can afford to pay tax lawyers to shield their money from the government.
The favorite pastime of the super-rich is philanthropy, so maybe they just consider high taxes to fund Democratic policies a form of philanthropy?
It is my informed hunch that among the lower-tier millionaires, the ones voting for Obama are the professional class--doctors, lawyers, investment bankers--while the ones voting for McCain are business owners, executives, and non-financial services sales people.
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Razib blogged about this first, but I discovered the Robert Frank post yesterday while surfing the Wall Street Journal, not realizing that Razib also had written about it.