The candidate who favors taxing the rich is getting support from the rich.
In a surprising twist to the 2016 election, Democratic nominee Hillary Clinton seems to be receiving widespread support from the wealthiest Americans. Typically, Republicans receive waves of support from the wealthiest Americans because they tend to propose tax cuts for high-income earners. But this year, despite Clinton proposing an increase in taxes on the rich and Republican nominee Donald Trump proposing the opposite, Clinton is getting far more support.
Not only is Clinton receiving outside money from elite donors at a two-to-one margin over Trump, she’s also polling far better with Americans making more than $100,000 a year. According to Ipsos, 45 percent of those earners said they are going to vote for Clinton while just 28 percent said they’d vote for Trump.
Henry Thorne, the chief technical officer of high-tech consumer goods company 4Moms and someone who would benefit from a Trump tax cut, celebrated this news on Facebook by saying he was “really proud of our country” over the wealthy’s decision to back Clinton.
“The knock on the wealthy and corporations is that they put money purely towards self-interest without any moral compass or desire to make the world a better place,” he wrote.
But not only do these polls fly in the face of that narrative, they completely undermine it. Thorne’s right, too. Throughout this election, wealthy Americans have been under increased scrutiny. Trump both received praise and faced backlash when he admitted to avoiding federal income taxes when he could.
During his defense, he essentially said that all of the very rich Americans are doing what he does, painting a picture of a wealthy America that will put their own interests ahead of others at all costs.
Warren Buffet — one of the world’s richest men — responded by showing how much he pays in taxes every year.
“You can succeed in business like a person cutting ahead in traffic: yeah, it’s legal. And yeah, it puts you ahead,” Thorne told A Plus. “But the people I respect get ahead by creating value, that value is good for everyone and they get their fair share of it. Trump claims the line cutters are the majority, the election is showing it’s the value creators. I’m really happy about that.”
The affluent support of Clinton seems to be more of an aversion of Trump than anything else, but it’s still impressive. The billionaire Republican nominee is proposing $3,000 less in tax burdens for your average single person earning $100,000 per year, according to The Tax Foundation.
For people earning $250,000, the money saved through a Trump tax plan is more like $6,000. As salary increases, so too does one’s savings from a Trump tax plan… and one’s likelihood to support Clinton, according to Thorne.
“Literally millions of people are going to vote against their own self-interest,” Thorne said. “And someone who’s going to increase their inheritance taxes, which takes away directly from their children, instead of the opposite. And they’re doing that for the good of the country and the world. That kind of integrity restored my faith in humanity in an election season that has severely tested it.”
Source: aplus | Cover photo:Flickr