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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.
The Washington Examiner reports:
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.
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