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Switch to Forum Live View Why do Most Billionaires Vote Democrat??
3 years ago  ::  Apr 12, 2012 - 10:35AM #1
Bodean
Posts: 9,710
I consistently see certain people refer to the GOP as the Party of the Rich, with an insinuation that GOP legislation is designed to make the rich richer and the poor poorer.  YET ... many of the richests people in the US actually support Democrats.

OK ... I don't have the voting record of all 403 Billionaires in America, but a fair number of the higher profile Billionaires support Democrats.  For example ...

Bill and Melinda Gates $53 billion, Supported Obama, Democrats
Warren Buffett $47 billion, Supported Obama, Democrat
Eli Broad $5.9 billion, Supported Obama, Democrats journals.democraticunderground.com/madfl...
John Doerr, $1.7 billion, Supported Obama, Democrat venturebeat.com/2009/02/06/obama-appoint...
Gerry Lenfest, Supported Obama, Sestak, Democrat www.campaignmoney.com/political/contribu...
John Morgridge, $1.6 billion. Supported Obama, Democrat www.newsmeat.com/ceo_political_donations...
Paul Allen $13.5 billion, Supported Obama, Democrat www.campaignmoney.com/political/contribu...
Laura and John Arnold, $4 billion, Supported Obama, Democrat www.campaignmoney.com/political/contribu...
Michael Bloomberg, $18 billion. Supported Obama, Democrat
Michele Chan, $5 billion. Supported Obama, Democrat
Barry Diller, $1.2 billion. Supported Obama, Democrat – nymag.com/daily/intel/2008/10/barry_dill...

... and of course .. George Soros ... who is the most visible Democrat Billionaire.

In looking at this I came across an interesting perspective that makes sense, but of course, I have no way of knowing it's true ... but again .. it makes sense, especially based on the psychology of Billionaires.

The answer to why most billionaires favor Democrats is increasing their own wealth.  Why you say?  They have already created their billions!  And that, in fact, is the answer!


If a current wealthy person can make it difficult for the next person to become equally wealthy (through increased taxes, regulation, and/or decreased opportunities),  then their wealth becomes a lot more valuable!  They can make money without doing anything!  In fact, they may have hit a plateau where the only way they can increase their wealth is to cut off other’s opportunity in order to increase the “buying power” of their own wealth!

What do you think??  Do you think the above is right?  Or do you think there is another reason?  If so .. what?



    
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3 years ago  ::  Apr 12, 2012 - 10:52AM #2
MysticWanderer
Posts: 1,328

Let's see now 14 out of 403 or 3.4% does not seem either an adequate sample nor does it support your conjecture on its face.  I wonder how many other high profile billionaires support Republican candidates?  Frankly I see no point in discussing a vague conjecture until some real data is presented to prove it has some validity.

"Not all who wander are lost" J.R.R.Tolkein
You can safely assume that you've created God in your own image when it turns out that God hates all the same people you do. ~Anne Lamott
"Against stupidity the gods themselves contend in vain."
Friedrich von Schiller
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3 years ago  ::  Apr 12, 2012 - 11:16AM #3
Erey
Posts: 19,171

There are a variety of different reasons why one person might vote one party, too many reasons and possible motivations to list here.


In regards to wealth my pet theory is that the democrat party is the party of the wealthy who have already made it.  The high profile celebrities, the uber billionaires, etc.They are not really struggling to build anything in the way a small business person might be.


   The republicans or more specificaly financial conservatives might be well off but they are still building.  They are looking closely at taxes and wondering how is it going to affect the bottom line.  Wondering if taxes are going to prevent their ability to open a new branch this year or hire a new unit of workers.  Are the EPA regulations going to tank the business they have been building over the last 4 years? These voters are more on a precipice or at least they see themselves in that way. 


What are a few misguided EPA regulations going to do to Warren Buffett?  The only people that it might hurt are the people working for a Buffett company much further down the ladder, not the Buffett family or anyone in his inner circle of regular friends and aquaintices.  It doesn't even effect his domestic help.


Idealism and this idea of enforced generosity (we are going to take your money becuase we know better how to use it) is really a very comfortably wealthy person's game.  It is not a game for anyone who feels any real vunerability. 


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3 years ago  ::  Apr 12, 2012 - 12:00PM #4
Bodean
Posts: 9,710

Apr 12, 2012 -- 10:52AM, MysticWanderer wrote:


Let's see now 14 out of 403 or 3.4% does not seem either an adequate sample nor does it support your conjecture on its face.  I wonder how many other high profile billionaires support Republican candidates?  Frankly I see no point in discussing a vague conjecture until some real data is presented to prove it has some validity.





As opposed to wasting band width ... how bout you post a list of the billionaires who support Republicans.


I know .. the Koch Bros.  Got any others??  Trump?  Is he a billionaire?


One unsubstantiated claim is that 75% of all Billionaires are Democrats.


SO .. that would mean of the 403, only 100 are Republicans .. whereas the other 300 are Democrats.

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3 years ago  ::  Apr 12, 2012 - 12:01PM #5
Bodean
Posts: 9,710

Apr 12, 2012 -- 11:16AM, Erey wrote:


There are a variety of different reasons why one person might vote one party, too many reasons and possible motivations to list here.


In regards to wealth my pet theory is that the democrat party is the party of the wealthy who have already made it.  The high profile celebrities, the uber billionaires, etc.They are not really struggling to build anything in the way a small business person might be.


   The republicans or more specificaly financial conservatives might be well off but they are still building.  They are looking closely at taxes and wondering how is it going to affect the bottom line.  Wondering if taxes are going to prevent their ability to open a new branch this year or hire a new unit of workers.  Are the EPA regulations going to tank the business they have been building over the last 4 years? These voters are more on a precipice or at least they see themselves in that way. 


What are a few misguided EPA regulations going to do to Warren Buffett?  The only people that it might hurt are the people working for a Buffett company much further down the ladder, not the Buffett family or anyone in his inner circle of regular friends and aquaintices.  It doesn't even effect his domestic help.


Idealism and this idea of enforced generosity (we are going to take your money becuase we know better how to use it) is really a very comfortably wealthy person's game.  It is not a game for anyone who feels any real vunerability. 






Erey .. your post is consistent with the orginal charge.


Buffet is all about supporting EPA regulations to hinder any competition to his wealth.

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3 years ago  ::  Apr 12, 2012 - 12:56PM #6
catboxer
Posts: 14,012

This is an extremely difficult, complex, and nuanced topic to try to research -- a lot more than I wanted to do on a Thursday morning.


After a lot of fruitless searching among a lot of opinions of the "Well, I think..." variety, I finally hit paydirt at newsmeat.com/billionaire_political_donat...


This is a non-partisan comprehensive list of US billionaires and supplies a record of who gave how much to whom, in three categories: dem, GOP, and "special interest." That latter is a variety of political donation, usually to the national party or congressional campaign committee or a similar organization of the billionaire's choice.


You can find their specific donations and who they went to by clicking on the names.


Because the amount of data was overwhelming, I limited myself to the people who gave more than a million between 1978 and 2011 (there are 20 of them). Surprisingly, neither Warren Buffett nor Charles Koch is on that list.


Among the million dollar donors, 11 give overwhelmingly to Republican candidates and causes. Eight are primarily Democratic contributors, and one (Ricketts) I counted as neutral, because he made almost all his donations to "special interest," although an examination of these shows him to lean heavily Republican.


There are more Democrats here than I expected, but the thesis "Most billionaires are Democrats" is refuted by the information revealed here.


Anybody who wants to mine this huge ore deposit of data more thoroughly than I did is welcome to do so. I'm going to go about the business of the day -- baking medicated banana bread, and going out to the bank to score a roll of quarters so I can do my laundry.

Adepto vestri stercore simul.ttr
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3 years ago  ::  Apr 12, 2012 - 1:29PM #7
arielg
Posts: 9,116
Apr 12, 2012 -- 12:16PM, Erey wrote:

There are a variety of different reasons why one person might vote one party, too many reasons and possible motivations to list here.


In regards to wealth my pet theory is that the democrat party is the party of the wealthy who have already made it.  The high profile celebrities, the uber billionaires, etc.They are not really struggling to build anything in the way a small business person might be.



True, they have made it and contributing more to society  is not going to threaten their wealth. 


 Nothing negative about that. They can allow themselves   more fairness  and look at the larger picture, rather than just being concerned with  their particular situation. That is why the children of rich people  are many times very liberal.

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3 years ago  ::  Apr 12, 2012 - 3:09PM #8
Erey
Posts: 19,171

fairness is a relative term ArielG.  You might say the very wealthy are not that concerned with fairness for themselves.  One way or the other is not going to sink them. However, a growing small business owner a few extra taxes can make it alot harder to stay in business and compete with the very big boys that can wait out a new government restriction.  Or the big guys can even use that new restriction to their advantage.

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3 years ago  ::  Apr 12, 2012 - 3:19PM #9
MysticWanderer
Posts: 1,328

Apr 12, 2012 -- 12:00PM, Bodean wrote:


Apr 12, 2012 -- 10:52AM, MysticWanderer wrote:


Let's see now 14 out of 403 or 3.4% does not seem either an adequate sample nor does it support your conjecture on its face.  I wonder how many other high profile billionaires support Republican candidates?  Frankly I see no point in discussing a vague conjecture until some real data is presented to prove it has some validity.





As opposed to wasting band width ... how bout you post a list of the billionaires who support Republicans.


I know .. the Koch Bros.  Got any others??  Trump?  Is he a billionaire?


One unsubstantiated claim is that 75% of all Billionaires are Democrats.


SO .. that would mean of the 403, only 100 are Republicans .. whereas the other 300 are Democrats.





You made the original claim, it falls to youo to support it.  As Cat points out with some research he calls you into question.  Will you now suppolrt your claim or contiinue your envy of the super rich.

"Not all who wander are lost" J.R.R.Tolkein
You can safely assume that you've created God in your own image when it turns out that God hates all the same people you do. ~Anne Lamott
"Against stupidity the gods themselves contend in vain."
Friedrich von Schiller
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3 years ago  ::  Apr 12, 2012 - 6:27PM #10
Bodean
Posts: 9,710

Apr 12, 2012 -- 12:56PM, catboxer wrote:


This is an extremely difficult, complex, and nuanced topic to try to research -- a lot more than I wanted to do on a Thursday morning.


After a lot of fruitless searching among a lot of opinions of the "Well, I think..." variety, I finally





Excellent Find Cat.


Fun to poke around on.  And ... some very interesting stuff to conclude.


For the 2008 Election, the "A List" ... I started tabulating.  After getting about 1/2 way down the list .... the results look like this.


The Democrats had 304 Doners .... 11 Sports Types, 225 Entertainment, 20 CEOs, 9 Attorneys, 9 Business types, 2 Billionaires, 30 "other".


The Republicans had 92 Doners .... 9 Sports Types, 16 Entertainers, 29 CEOs, 18 Business Types, 3 Billionaires, 17 "other".


What was so astounding ... David Koch .. one of the much maligned Koch Brothers, only gave $8900 ... whereas there are multiple "Stars" giving in excess of 30K.


If we expand our criteria to "The Rich and Famous" ... it's a hands down no brainer.  They mostly give to and support Democrats.


When it comes to the Hollywood Types .. it's a no wonder.  They contribute nothing to society, but rake in the dough.  I'd really like to know how they get taxed, as their income is not exactly "income" .. but royalties of some sort.  Obviously, they support sticking it to the working class people, while they enjoy thier multi million dollar homes and exotic vacations in places common folk only dream about.

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