Tuesday, March 15, 2005

Social Security Reform a Winner

John Zogby sees long term gains for the Republican Party.

His OpinionJournal.com article requires registration.
BEYOND THE NEW DEAL | Investors for Bush

How Social Security reform can bring about a Republican realignment. | BY JOHN ZOGBY | Tuesday, March 15, 2005 12:01 a.m. [ ... ]

Zogby International's post-election polling reveals fascinating differences between those voters who call themselves members of the "investor class" and those who do not see themselves this way. We see the table below how this response to a single question--"Do you consider yourself to be a member of the investor class?"--is a far greater determinant of how they will vote and how they see their world than income, religion, race, marital status, or size of individual portfolio.

Investors Noninvestors
Bush Kerry Bush Kerry
All voters 61% 39% 42% 57%
Union members 57% 42% 36% 63%
18-29 years old 52% 47% 30% 67%
Women 55% 45% 37% 63%
Hispanics 60% 37% 43% 56%
$50-75K income 64% 36% 45% 55%
Single 45% 53% 25% 73% [ ... ]

Self-identified investors comprised 46% of the total vote in 2004, a significantly higher figure than pre-election polls suggested. The group is neither dominated by the wealthy nor do members necessarily aspire to become wealthy. According to a series of polls we did on behalf of PBS's "Wall Street Week with Fortune," this group tells us they simply are saving for a retirement that maintains their current lifestyle and for college for their children. Importantly, their worldview remains middle class, modest, and basically conservative. They are a group I have followed closely since 2000 and will, for obvious reasons, continue to watch.

To the president and Republicans: You may lose the battle over Social Security personal accounts, but ultimately you may very well win the war over party realignment. To the Democrats: Just saying no is not a policy and demographics are not destiny. Ignore the "ownership society" at your own peril.

Mr. Zogby is president and CEO of Zogby International, an independent polling company in Utica, N.Y., and Washington. [ ... ]