8/10/2010

The wealthy have been the most loyal Obama supporters

Are the wealthy who support Obama trial lawyers and others who make their living off of liberal Democrat policies?

Affluent Americans are Barack Obama's most secure class of support. They have stuck by this president at three to six times the rate of all other income groups since early 2009, based on a RealClearPolitics analysis. . . .

Obama's approval rating has plummeted by 24 percentage points among those with a household income that is less than $50k annually. He's dropped 13 points within the $50k to $100k bloc over the same period. And he's fallen 17 points within the $100k to $150k bloc.

What about those households with income exceeding $150k? Obama has merely declined 4 points, based upon Gallup polling from February-March 2009 (after Obama's honeymoon ended) to June-July 2010. . . .

But few of Obama's affluent supporters have turned on him. That's the salient point. In effect, almost half of affluent adults can be considered part of the Democratic base.

These are the Americans who especially don't vote their economic interest. They are more likely to identify as liberal, live in a city and reside near a coast.

They are also less likely to be a serious casualty of the financial crisis. The Wall Street crisis came to define the Great Recession. But about three in four job losses have been blue collar. That suggests affluent Democrats are not only voting their social interest over their economic interest. They are also less likely to have their current political allegiance questioned by their economic interest. . . .

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