Politically Charged Accounting

I don’t purport to hide my political leanings. I think that it is apparent if you read through my prior blogs, but this blog will clearly leave no doubt. I recently read a politically based blog that I just flat out disagreed with. That’s not unusual. What is unusual is that this blog was not found in any of the usual wingnut locations such as Townhall, Power Line Blog, Real Clear Politics, etc. It was found right here on Accounting Web.

www.accountingweb.com/blogs/allan_boress_blog.html

I though a reprisal comment was appropriate, but where to post it? The most logical place would be to utilize the “Share My Voice” option at the end of each blog, but that’s limited to 1,000 characters and I have much more to say than that. How about a moonbat location like the Daily Kos, Crooks & Liars, Huffington Post, etc.? No, that would not meet my target audience expectations. Accounting Web is my forum and Captain Excel is my moniker, so here it is.

Please read the article first by clicking on the link above.

So let me summarize this article. Obama won because he marketed himself better. He dressed sharper, had a cool logo, and keep to a consistent message which allowed him to appeal to his target audience – the young ignorant voter. “The BO campaign was going for a young voter that had never participated much in politics, and didn’t know you were supposed to vote based on qualifications and experience.”

He won even though his tax policies are all wrong and he didn’t have the experience to secure the position. “…lower taxes helps the economy and raising them hurts everyone! Any econ grad knows this. Years and years of history prove it.” And “How else to explain the election of someone to the most important post in the world with no executive experience?”

So in conclusion since Obama won on fluff and without substance a CPA firm can do the same and succeed and even thrive with the right marketing approach and little or no technical ability. “I’ve known for years, as supported by all of our surveys since the mid ‘80’s, that technical competence – and fees – usually rank at or near bottom for most decisions to hire CPAs, far below the human, personality and relationship side.”

Reality check – Somebody please explain to me how years of Bush’s lower tax policies have helped the current economy. In regards to the proposition that the young ignorant voter carried Obama to victory, let’s review the results of the NY Times’ national exit polls which can be found here:

elections.nytimes.com/2008/results/president/national-exit-polls.html

First, did Obama appeal to the young voter, and the results of the NY Times exit poll is:

Age 18-29 30-44 45-59 60+
2008-% 66 52 49 47
2004-% 54 46 48 51
Inc/(Dec) 12 6 1 -4
% of electorate 18% 29% 30% 23% 100%
Inc/(Dec)*% elect 2.16 1.74 0.3 -0.92 3.28
Weighted Avg 66% 53% 9% -28%

Well no doubt Obama nailed the young vote. 66% of the overall weighed average increase was from the age group between 18 and 29, but he also had a substantial increase in the 30-44 range and a moderate increase in the 45-59 range. I guess they too were misled by all that glamour and glitter that Obama spewed. But that’s only half of the equation. Let’s look at the ignorant aspect of the argument. Here are the results for education:

Degree None High Sch Some Coll College Graduate
2008-% 63 52 51 50 58
2004-% 50 47 46 46 55
Inc/(Dec) 13 5 5 4 3
% of electorate 4% 20% 31% 28% 17% 100%
Inc/(Dec)*% elect 0.52 1.00 1.55 1.12 0.51 4.70
Weighted Avg 11% 21% 33% 24% 11%

And also the results for income which is related to education:

Income 15-30K 30-50K 50-75K 75-100K 100+
2008-% 73 60 55 48 51 49
2004-% 63 57 50 43 45 41
Inc/(Dec) 10 3 5 5 6 8
% of electorate 7% 12% 19% 21% 15% 26% 100%
Inc/(Dec)*% elect 0.70 0.36 0.95 1.05 0.90 2.08 6.04
Weighted Avg 12% 6% 16% 17% 15% 34%

Here Obama scored with a 35% increase in weighted average percentage from college graduates and post graduate degrees and an amazing increase of 34% in those making $100K+. Not in this graph are those making 200K+ with an astounding 18 percentage point increase from 34 to 52 and represented 6% of the electorate. Included in this group is the subset (250K+) that was told they would be paying higher taxes under the Obama plan.

Does GM need a bailout because they changed their “PATRIOTIC” marketing strategy or because they make bigger, gas guzzling, inefficient cars and SUV’s that nobody wants to buy and are inferior in quality and cost compared to their foreign counterparts anyway? Will college grads really be swayed by a popular music experience, or are they more likely to choose an employer that provides better opportunity and expertise?

In conclusion, the author underestimated the Obama marketing plan which appealed too much more of the electorate than just the ignorant young voter, and any CPA firm that thinks it’s on firm ground with a rock solid marketing plan with no substance to back it up is sure to fail in the end.

This blog

by Chris Wood, CPA - Chris Wood is a CPA with experience in Big Four, large regional and local public accounting firms. Write to the good Captain on everything under the sun concerning the captivating world of Excel!

 

 

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