Do Republicans tend to help rich people more than the middle class?

We may be called the United States, but when it comes to politics, we are completely divided. About half the spectrum votes Democratic, about the other half votes Republican, and then there are those who either don’t vote or vote for a third-party candidate.

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What about the middle class? How do they vote? Well, they are separated by themselves. Many will vote for Democrats. Many will vote Republican. From financial point of viewWhich party is best able to meet the needs of the middle class? Do Republicans tend to help rich people more than the middle class, or vice versa?

GOBankingRates spoke with David Brooks, CEPA, CIS, CHRS, President and Founder Conclusion SMART, LLCto understand whether Republicans favor people with higher incomes compared to middle class people.

Wealth assets may grow more under Democrats, but the middle class may not recognize it

While wealthy people often favor Republicans financially for their support of tax cuts among higher income people and large corporations, there is evidence that invested wealth performs better under Democratic leadership.

“The rich do a lot better when Democrats are in the White House,” Brooks said. “According to S&P data over the past 92 years, the S&P averaged 7.85% when a Republican was president, versus 14.93% under Democratic administrations.”

The fact is that middle-class people don’t necessarily measure their financial well-being by their investment results.

“A lot of people don’t invest in assets like the stock market or real estate,” Brooks said. “They just ask themselves, ‘Am I feeling better?'”

Inflation is key to how you answer this question for yourself.

“Today, people living paycheck to paycheck tend to say no because they feel the pain of prices that are typically 20% higher than four years ago,” Brooks said.

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Let’s think about who can best help the middle class survive the recession

Brooks believes the US will go through a recession regardless of who becomes president next. So the question, he said, is: “Which approach is most likely to get us out of this situation and create a healthy economic environment for the middle class?”

The answer appears to be Democrats.

“Democrats typically favor social welfare programs, higher taxes on the wealthy and regulations to reduce income inequality,” Brooks said. “Their campaign policies often focus on expanding health care, education and social safety nets to support low-income people.”

But wait. The answer appears to be Republicans.

“Republicans generally emphasize tax cuts, less government regulation, less government spending and more free market solutions,” Brooks said. “They argue that a rising tide lifts all boats, that helping businesses and the wealthy can lead to job creation and economic growth, which they believe will ultimately benefit everyone.”

Republican leaders and Democratic leaders have so little in common, but when the economy goes bad, they both strive to get back to smooth sailing. They simply approach the issue(s) differently, and some middle-class people may feel more financially secure under a Democratic administration, while others may feel more secure under Republican leadership.

The rich prosper anyway

The middle class may or may not fare better under a Republican presidency. Rich? Brooks said they would win either way, under Harris or under Trump.

“In America, history and economic data show that the rich tend to do well no matter which party is in power,” Brooks said.

Does any political party truly serve the middle class?

Perhaps the more insightful question is not, “Are Republicans more inclined to help rich people than the middle class?” but “Does any political party really help the middle class?”

Brooks suggested the answer is no.

“As a registered independent, I believe both parties have failed the American people in many ways,” Brooks said. “Republicans don’t always practice the rhetoric, policies and approaches they preach. The Democrats are more committed to what they preach, but I don’t think their formula is right, especially for the middle class.”

Editor’s note about election coverage: GOBankingRates is a nonpartisan publication committed to objective coverage of all aspects of the economy and to present balanced reporting of politically oriented financial stories. More detailed coverage of this topic can be found at GOBankingRates.com.

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