Author Topic: Democrats continue to be the party of the rich - republicans carry the working class  (Read 135 times)

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Democrats Continue to Be Party of the Rich – Republicans Carry the Working Class

Posted by Jim Hoft on Monday, March 31, 2014, 7:08 AM

The top richest districts in the US vote Democrat according to a new Associated Press report.
 The AP reported:

Republicans are the party of the rich, right? It’s a label that has stuck for decades, and you’re hearing it again as Democrats complain about GOP opposition to raising the minimum wage and extending unemployment benefits.

But in Congress, the wealthiest among us are more likely to be represented by a Democrat than a Republican. Of the 10 richest House districts, only two have Republican congressmen. Democrats claim the top six, sprinkled along the East and West coasts. Most are in overwhelmingly Democratic states like New York and California.

The richest: New York’s 12th Congressional District, which includes Manhattan’s Upper East Side, as well as parts of Queens and Brooklyn. Democrat Carolyn Maloney is in her 11th term representing the district.

Per capita income in Maloney’s district is $75,479. That’s more than $75,000 a year for every man, woman and child. The next highest income district, which runs along the southern California coast, comes in at $61,273. Democrat Henry Waxman is in his 20th term representing the Los Angeles-area district.

House Democratic Leader Nancy Pelosi’s San Francisco district comes in at No. 8.

Across the country, Democratic House districts have an average per capita income of $27,893. That’s about $1,000 higher than the average income in Republican districts. The difference is relatively small because Democrats also represent a lot of poor districts, putting the average in the middle.

Democrats say the “party of the rich” label is more about policies than constituents.

 Is it really a surprise then that working Americans are voting Republican? In the 2012 election, Mitt Romney picked up a majority of working class Americans.

53% of Americans making over $50,000 a year voted Republican. Informed working Americans trust conservatives with their money. And, after another four years of Obama even more middle class Americans will vote Republican – what’s left of them.

Obama economy: Rich get richer, as millionaires’ list grows
By Cheryl K. Chumley
The Washington Times

Friday, March 14, 2014

President Obama may tout a populist message aimed at drawing in the middle class constituent, but by the numbers the economy under his watch has blown big windfalls onto the already rich.

George Walper Jr., president of the consulting and research firm Spectrum Group, said an improved real estate market and solid Wall Street returns have enabled the wealthy to capitalize and fuel their bottom lines to hit the highest levels in years, CNN Money reported. Basically, the wealthy grabbed up properties that were going for cheap prices during the harshest recession years and have now turned them into profitable sales.

“Because of their levels of wealth, they increased their exposure to equities during the downturn and were making investments in real estate when the market was at the bottom,” he said, CNN Monday reported. “That’s why now they’ve benefited the most from the return in the economy.”

The Spectrum Group said specifically that the recent economic gains have brought about the most number of households that report net worths of $5 million or more — and the most number of households to report worths of $25 million or more.

Meanwhile, those of lesser means have been faring well lately, too, the group found.

The number of households in the United States that have seen a net worth of $1 million or more hit at 9.63 million in 2013 — up by 600,000 from 2012, CNN Money reported. The millionaires’ list stood at 6.7 million in 2008 and then rose gradually through the years: An estimated 7.8 million reported net worths of more than $1 million in 2009; about 8.4 million in 2010; then 8.6 million in 2011; and 9 million in 2012, the Spectrum Group reported.

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« Last Edit: March 31, 2014, 09:12:53 AM by rangerrebew »
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