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Photo Illustration: Sarah Grillo/Axios. Photos: Erik McGregor/LightRocket via Getty Images, Banaras Khan/AFP via Getty Images, and Alfredo Estrella/AFP via Getty Images

America's identity is nearing a tipping point as demographics change, which helps explain why so many 2020 presidential candidates are testing the conventional wisdom about who can win elections.

The big picture: The irony is that the biggest changes haven't been reflected in the kinds of candidates leading the 2020 polls — most of whom are white, rich men. But they could have a big impact on the final outcome.

  • More women and ethnic-and-racial-minority candidates than ever ran in this Democratic nominating contest. Yet the frontrunners are white and mostly male or in their 70s.
  • Aspects of "socialism" are gaining appeal as income disparity grows. Yet President Trump and two Democrats claim billionaire status.

Here are five of the biggest demographic trends shaping politics.

1. The liberal youth revolution

Millennial and Gen Z Americans are sticking with the Democratic Party as they move through adulthood. They're embracing "liberalism" and Alexandria Ocasio-Cortez branded "socialism." If Democrats could only get them to the polls, they'd gain political power for the foreseeable future.

  • Young voters who turned 18 under Gerald Ford, Jimmy Carter, Ronald Reagan or George H.W. Bush voted Republican more often than the national average, Pew Research Center found. The youngest voters under Bill Clinton, George W. Bush and Barack Obama have voted far more Democratic.

Who to watch: Sen. Bernie Sanders, 78, is the leading youth vote candidate. He's spent more than half of his Facebook ad money targeting 15- to 24-year-olds. Two youth-led, progressive groups endorsed him in early January.

  • Michael Bloomberg, 77, was spending more of his Facebook ad money than anyone on that youngest group.
2. Older generations' growing voting power

The share of the electorate from older, more conservative generations is growing as the massive baby boomer generation ages and life expectancy rises.

  • Retirement-aged Americans outvote young people. They're also more likely to have expendable income to invest in political candidates and parties.

Who to watch: President Trump and Sen. Elizabeth Warren have received more campaign donations from retirees than other candidates, according to an Axios analysis of FEC data. Several polls have shown Biden's strength is with older, Democratic voters.

3. A shrinking white America

America's majority minority future has elevated identity politics and immigration: 2020 will be the first time Hispanic voters make up the electorate's largest minority group.

  • Since 2010, non-Hispanic white people have lost their majority in 32 additional U.S. counties, according to census data. Texas and Nevada have become majority minority since 2000.

What to watch: Trump rewards the white, non-college-educated population that was crucial to his 2016 victory, particularly by rolling out aggressive anti-immigration policies.

  • 2020 Democratic candidates talk often about winning back the "Obama coalition" of black, Hispanic, young and female voters. Support from black voters could be crucial for Biden.
4. The great rural exodus

The world is urbanizing, bringing housing, health care, transportation and energy concerns. Meanwhile, rural America is in the middle of a downward spiral.

  • As the overall population grows, the percentage of Americans living in urban areas rose faster, translating to 46 million more people in urban areas since 2000.
  • States with the highest population density tend to be Democratic and coastal. New Jersey, Rhode Island, Massachusetts, Connecticut and Maryland have the highest population densities, according to World Population Review.

Who to watch: Warren has a plan to tackle the lack of affordable housing in cities, while Bloomberg woos city mayors.

  • Meanwhile, Pete Buttigieg and Sen. Amy Klobuchar often tout their Midwestern roots.
  • Trump has bailed out farmers and promised to rebuild manufacturing, coal and mining industries, but his trade war with China hurt many in those sectors.
5. Dying religion

Around a quarter of Americans are now unaffiliated with religion as the white Christian population — which is largely Republican — declines, according to Pew Research.

  • In 2018, 41% of the population identified as white and Christian, down from 54% in 2008, according to the Public Religion Research Institute (PRRI). White evangelicals in particular fell from 21% of the population to 15% in the same time period.
“If current trends continue, the two parties could evolve into a Republican Party that is the party of white Christians and a Democratic Party that is the party of everyone else."
— Robert P. Jones, CEO of PRRI and author of "The End of White Christian America"

Go deeper

Collins helps contractor before pro-Susan PAC gets donation

Sen. Susan Collins during her reelection campaign. Photo: Scott Eisen/Getty Images

A PAC backing Sen. Susan Collins in her high-stakes reelection campaign received $150,000 from an entity linked to the wife of a defense contractor whose firm Collins helped land a federal contract, new public records show.

Why it matters: The executive, Martin Kao of Honolulu, leaned heavily on his political connections to boost his business, federal prosecutors say in an ongoing criminal case against him. The donation linked to Kao was veiled until last week.

How cutting GOP corporate cash could backfire

Illustration: Aïda Amer/Axios

Companies pulling back on political donations, particularly to members of Congress who voted against certifying President Biden's election win, could inadvertently push Republicans to embrace their party's rightward fringe.

Why it matters: Scores of corporate PACs have paused, scaled back or entirely abandoned their political giving programs. While designed to distance those companies from events that coincided with this month's deadly siege on the U.S. Capitol, research suggests the moves could actually empower the far-right.

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Scoop: Kaine, Collins pitch Senate colleagues on censuring Trump

Sen. Tim Kaine speaks with Sen. Susan Collins. Photo: Andrew Harnik/AP via Getty Images

Sens. Tim Kaine and Susan Collins are privately pitching their colleagues on a bipartisan resolution censuring former President Trump, three sources familiar with the discussions tell Axios.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction in his second impeachment.