It's not entirely false. It's just fucking stupid. Liberals are the professional class, not very rich, but also not poor, but more importantly: well educated and cultured. In other words: we're the intellectual elite.
As Rick Santorum said: "We will never have the elite, smart people on our side"
The conservative is a man who knows he's an idiot, and is PROUD of that fact. In a word: ignorant. Or perhaps better put in contrast to 'elite': plebeian.
Well actually idiot works too, since its root etymologically it comes from the word 'idiotes' which means 'common'. They're 'common' people. XD
So be proud that idiots call us Elite. Its respect we deserve from the common folk!
P.S:: worth noting that in the past... and unfortunately what seems to be the future, the professional class was much, much smaller, and it's only in the middle of the last century that it was comparable to the working class in size.