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Wednesday, May 01, 2013

Shock poll: Wealthy, not middle class, support Obama

That's really not a shock.  When you're financially secure beyond any need for income (think Warren Buffett or other uber-wealthy hedge fund managers) you have your wealth spread around and have no real concern about economic policy affecting your lifestyle.

According to a new Economist/YouGov poll, it's the rich -- not the poor or middle class -- who back Obama more despite his 2012 campaign attacking the rich.

The poll found that fewer than half of those with incomes less than $100,000 per year approve of Obama's performance, while he enjoys a 54 percent approval rating among those with incomes higher than that.

Those earning less than $40,000 a year disapprove of the president's performance, 51 percent to 45 percent. Those earning $40,000 to $100,000 disapprove by a rate of 50 percent to 48 percent
This poll really doesn't prove the point, however, because people making between $50,000 and $250,000  are still dependent onthe economy and the markets for their financial well-being. It's when you get to be as wealthy as Buffett, Soros or even Jeff Immelt that concerns about income become immaterial and are financially beyond the economic concerns of ordinary people.

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