This is a good question considering that socialism is geared toward attacking “the rich”and maligning the accumulation of private wealth.
Yet today in America, the majority of rich people statistically are not Republicans but are liberal Democrats, many of them on the far left. They live in places like New York and Hollywood and San Francisco and Chicago and Silicon Valley, hardly the home turf of conservatism. Most of the richest congressional districts are represented by Democrats. Many of the richest people in the US congress are liberals.
And the three richest men in America– Warren Buffett, Bill Gates and Larry Ellison – all are liberals.
This runs contrary to the media fiction that the rich people in America are Republicans. This fiction is repeated over and over in the media in order to win over ignorant people to the Democrat party. And there are plenty of them, mostly among the angry, envious poor; in the agitated and shrinking middle class; and in the perpetually enraged labor union movement.
Nancy Pelosi, the former Democrat speaker of the US House of Representatives, one of the most far-left politicians in America and one of the richest people in Washington (estimated fortune is $30 million, earned by her husband), represents one of the richest districts in America, near San Francisco.
So why are so many rich people liberal Democrats?
To understand this phenomenon, it is important to understand there are two types of rich people – the capitalist rich and the socialist rich.
The capitalist rich are generally Republicans. They “make things” and “build things” and “manufacture things” and provide basic resources like coal or timber in the ‘hard’ side of the economy. Henry Ford was an example of old-school capitalist rich. Andrew Carnegie too. Or Cornelius Vanderbilt, who constructed the famous New York Central railroad.
Ford manufactured cars. Carnegie manufactured steel. They produced basic goods that society needed, and that people needed. Carnegie's company developed many of the essential steelmaking processes that launched the industrial boom of the late 19th and 20th century. And he created jobs and wealth not only in making steel and developing those technologies, but in making good steel widely available, which created more and more wealth andjobs because steel is one of the most basic resources for a modern economy.
But today as manufacturing moves abroad, we have fewer and fewer of the old-school capitalist rich, and the middle class is shrinking as the wealth to support it is erodingaway.
And why is this happening?
Because of Democrat party attacks on wealth-creating, capitalist private business through excessive taxes, regulation, lawsuits, enviro restrictions and labor union agitation.
