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The rich favor Romney

By Judy Martel · Bankrate.com
Wednesday, August 8, 2012
Posted: 6 am ET

For the wealthy, the upcoming presidential election spotlight on the economy and jobs is leading a majority to favor Republican Mitt Romney over President Barack Obama, according to a poll by Spectrem Group.

The rich are favoring Republican Mitt Romney.

It's a reversal from the 2008 elections, when 52 percent of the rich supported Obama, according to CNBC. Obama also raised more money than Republican John McCain in the 10 richest ZIP codes in the nation and won eight of the 10 richest counties in the last election.

The poll shows that this time around, 61 percent of individuals with $1 million or more in investable assets say that Romney is the candidate who is most aligned with their opinions on the economy and job growth. Among those with investable assets of $500,000 to $999,000, 56 percent favor Romney. Wealthy women are leaning slightly Democratic, with 54 percent likely to vote for Obama, while 60 percent of rich men support Romney.

In some state Senate primaries, the wealthy are putting their money where their mouth is by entering races in Wisconsin, Missouri and Arizona, according to the Associated Press. Following Romney's lead, rich candidates are highlighting their successful business backgrounds as proof that they have the know-how to turn around an economy they say has remained sluggish under the Democrats.

Do you believe the Republicans or Democrats will be better positioned to improve the economy?

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