Why the Rich Support DemocratsA little below I highlighted
Richard Branson's plan to provide free trains and a special flight to Edinburgh for protestors of the G8 summit.
Third Wave Dave asked a good question in the comments that I thought might deserve some elaboration:
"My God, is everyone with money turning into a wingnut?"
In Branson's case I think it's just insurance; by providing the trains he shows his solidarity with the movement ergo the wacko fringe leaves him alone. But I thought it would be interesting to take a look at why so many wealthy people seem to be from the far left.
A lot of it has to do with celebrity. We all know that there are plenty of people who make as much as the biggest movie stars; Captains of Industry, sports players, real estate tycoons, etc., yet about the only people we hear from politically are the movie stars and the others who court celebrity (like Branson, obviously).
If you think about it, the liberalism of wealthy celebrities makes a lot of sense. You're guaranteed to get invited to the best parties, cast in the best movies and get lots of glowing press.
That last part may be the most important. We all know that the press ignores dog bites man in favor of man bites dog; the offbeat sells. Rich people saying "take more of my money" are intriguing. And of course, celebrities are in the business of trying to get as much press as possible.
As Hugh Hewitt points out frequently on his show, courts tend to take admissions against one's own interest as far more likely to be true than self-serving statements. This is just human nature. If the runner says he was safe, that's one thing; if the fielder says the runner was safe, that's quite another.
But not only are they more likely to be true, the people making those admissions are seen as nobler. Just as we all naturally respect more the person who admits his serve was long, or that he fouled the man on the way to the basket, we respect more the person who says "I have enough, take some of my money and give it to the needy."
And again, we find that celebrities and those in business who've become celebrities are also in the business of wanting to be seen as noble, because it's great for your "Q" rating.
There's only a limited downside to supporting the left's agenda. They're effectively impotent. Say the Democrats were to get power back again. What would they push for? Even John Kerry was forced to state last year that he was not a "redistributionist" Democrat, so there wouldn't be massive tax increases on the wealthy.
The worst case would probably be an increase in marginal tax rates by maybe 5%, from a 38% top marginal rate to 43%. If you're a Hollywood actor grossing, say $20 million a year, it's the difference beween taking home $12,400,000 and taking home $11,400,000 (before considering other taxes).
