IRS Data Shows Democrats Are Now The Party Of The Rich

US

For years, Democrats have presented themselves as the party of the middle class, standing up for the little guy.

That hasn’t been true for a long time, and now it is confirmed.

According to data from the IRS, Democrats are now the party of the rich.

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The Washington Examiner reports:

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Democrats are the party of the wealthy, IRS data shows

Democrats are the party of the wealthy, a flip from decades ago when it was the party of the poor and middle class.

Democrats represented 65% of taxpayers with a household income of $500,000 or more in 2020, according to IRS data, while 74% of taxpayers in Republican districts have household incomes of less than $100,000.

In 1993, the dynamic was reversed, with the typical Republican congressional district showing it was 14% wealthier than its Democratic counterpart. In 2020, data shows those Republican districts were now 13% poorer.

The data comes as some Democrats push to end former President Donald Trump’s 2017 tax law, which caps the federal deduction for state and local taxes at $10,000. The beneficiaries would predominantly be the 1% of the United States’s wealthiest households, with property owners in high-tax states benefiting from the relief on federal taxes.

This represents a big political shift in America.

Republicans must embrace their new role as the working class party.

Cross posted from American Lookout.

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