If Election Day is on a Tuesday, it can't be on any Friday. If it's the first Tuesday, that keeps it from being on the last day of the month. However, every so often, November 1st falls on Tuesday. The law was therefore written the "first Tuesday after the first Monday" specifically to keep it from falling on payday, because there were unscrupulous business owners who would withhold their employees' pay if they did not vote for the owner's candidate.
I don't often wax political in public, but I feel there's something which needs to be said. I won't tell you who I plan to vote for, and I won't tell you who to vote for, but I encourage you to vote based on the issues, rather than the popularity of a candidate or because his opponents have said unflattering things about him. Look at each candidate's political record, and vote for the individual you believe will best represent your values.
I believe that every election is a critical crossroad in the course of any political entity. If you don't vote for what you believe in, then those who hold viewpoints which oppose yours will change the course of your city, state, and nation in a direction you don't want it to go.