Wealthy against incompetent governance

This breakdown has a graph showing the vote swing among the wealthiest Americans:



NYT economics blog concludes:

“angry yuppies who’ve hugely benefited from President Bush’s tax cuts…have become so outraged and alienated by the incompetence, crass social conservatism, and repeated insults to the nation’s intelligence of the Bush-era Republican Party that they’re voting with their hearts and heads instead of their wallets.”

There is probably some truth to that notion. Here are two other possibilities:

1.) A higher percentage of wealthy, liberal voters came to the polls this year and a higher percentage of their conservative counterparts stayed home

2.) In an election in which most voters said the economy was the most important issue, some wealthy individuals who tend to vote with their wallets, saw an Obama presidency as better for their long-term financial interests — and America’s — and were willing to overlook the immediate tax increase that is coming their way.

For a 'fresher on the McCain and Obama tax plans, see here.