Why Megadonors Are Unfazed by Donald Trump’s Guilty Verdict | Money flowed into the former president’s re-election campaign from Wall Street and Silicon Valley following Thursday’s historic conviction
Why Megadonors Are Unfazed by Donald Trump’s Guilty Verdict | Money flowed into the former president’s re-election campaign from Wall Street and Silicon Valley following Thursday’s historic conviction
Money flowed into the former president’s re-election campaign from Wall Street and Silicon Valley following Thursday’s historic conviction.
With the billionaires backing him, it's going to be on us as individual Americans to make sure Trump doesn't end up in the White House again. That means not just voting but talking with people around you, volunteering and donating
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Unhappiness with President Biden is one reason. Trump’s tough-on-immigration, low-tax, regulation-shredding stance has been a big draw for billionaires who may be calculating that an endorsement or donation now will reap a bigger return if he wins in November. Another possible calculation: backing Trump at a low point could amplify that return even more.
This is why moderates keep moving to the right, which drives republicans even further fiscally.
Even being more conservative than dem voters on immigration, tax rates, and industry regulation, he'll never be more conservative than trump. All it does is make trump go twice as far so the rich can overlook his negatives.
And the more Dems do it, the more it costs to convince Dem voters to vote for them.
They're both chasing donations instead of voters.
Bill and Obama didn't even have to chase voters, they were so charismatic that voters chased them.
But Hillary and Biden are nowhere near that charismatic, so they chase donations like Republicans and hope if they pay enough for televisions ads that will suddenly start mattering again.
We can't beat republicans at convincing billionaires to give our politicians money.
But if our politicians focused on getting votes, they wouldn't need the 2 billion dollars Biden's campaign is estimating for this election.
Money in politics never stopped being a problem, we just stopped talking about it because everything else caught fire too.
Biden is conservative on regulation?
He rejoined the Paris Climate Agreement, revoked the Keystone Pipeline permit, created a 13 million acre federal petroleum reserve for Alaskan wildlife, greatly increased oil site lease cost, signed $7B in solar subsidies, and enacted the Inflation Reduction act to support clean energy.
Biden is conservative on immigration?
He repealed Title 42 and the Muslim ban, allowing an open border policy for most of his term while pressing for congressional immigration reform. Congress failed to provide reform as a partisan play. With pressure from overcrowded sanctuary cities, only then was was Biden forced to issue an Executive Order to reduce the flow of immigrants.
Biden is conservative on taxes?
His tax plan doesn’t go into effect until next year, when Trump’s tax cuts for the wealthy expire. It reduces taxes for working class by increasing the corporate minimum tax rate to 21% to align with the global minimum tax rate, implementing a Billionaire Minimum Tax of 25% on the wealthiest taxpayers to ensure the top 0.01 percent pay taxes on their income, raising the tax rate on corporate stock buybacks from 1% to 4% to reduce the differential tax treatment between buybacks and dividends and encourage businesses to reinvest profits in their workers and in the company’s growth, and denying corporate tax deductions for employee compensation in excess of $1 million paid to any employee by both publicly and privately owned C corporations.
Give it a rest with your unsubstantiated nonsense, would ya?
That's not even mentioning Biden's NLRB ruling. Basically the largest labor victory in the last 100 years. Combined with the Biden Administration FTC ruling squashing non-compete agreements. Which is the second biggest win for labor in the last 100 years. Or the billions in student debt his administration has forgiven.
Thank you. Great points.
Heh, told ya we often agree. Even though I'm not a fan of Democrats or biden. It's hard to say his administration hasn't been consequential in many good ways. There was only one Democrat I remember liking less than Biden in 20. And that was culty Gabbard. I've honesty been surprised. No small d democratic government can be perfect. Outside of some Optical missteps surrounding current events in Israel. His administration has been surprisingly decent.
You’re right. I also haven’t voted for a Democratic President that I couldn’t criticize. They’re just better than Republicans. Obama addressed the housing market bubble by bailing out the banks when he could’ve issued the same relief to those who were exploited. It would’ve addressed the issue while leaving the future interest losses as the predatory lenders’ problem. Clinton jacked corn farming by renewing overproduction incentives that led to high fructose corn syrup undercutting the price of sugar. He also signed the US - China Trade Agreement that redefined American consumerism to its current state of poorly made plastic junk filling our homes and landfills.
However, if we could keep turnout high for multiple consecutive Democratic wins, we’d see some more progressive candidates compete in the primaries. It would likely have the added benefit of pulling Republican candidates off the cliff to capture more of the moderate votes.
The bank bailout started before Obama was elected or even took office. I absolutely agree that he shouldn't have just continued the policy. And that he should have pushed more to get relief to the actual people hurting it and not just the banks. But again it comes down to the fact that the president is largely a diplomatic figurehead. Without a lot of power outside of War etc for the executive branch in general. When it comes to things like that he had to do what he could as fast as he could with the Congress he had. He absolutely should have at least vocally pushed for it though.
This I agree with though. Never in my lifetime have we had multiple consecutive Democratic presidencies. Excluding things like two-term presidents. I'm talking like Reagan bush Etc. For the record it's been nixon/ Ford, Carter for 4 years, Reagan for eight and Bush for another four, Clinton 48, Bush for eight, Obama for eight, Trump for four, and now Biden for four. Every 4 to 8 years we tend to flip fascist and people wonder why no progress is being made. Because we're having to fix the damage the fascist did before we can even try to improve things and it's a hole that just keeps getting deeper and deeper and deeper every 8 years.
The worst part of it, so many people are solely focused on presidential elections. Which don't get me wrong the presidency is absolutely nice to have. If you had a majority Democratic House and Senate there is still a major amount a president Trump could block. But we struggle so hard to even have the presidency let alone solid control of the house or Senate for any length of time. And all of it arises from people allowing perfection to be the enemy of achievable.
I couldn’t agree more. Besides presidential election turnout directly impacting downballot success, the attendance for midterm elections is abysmal. The highest turnout group is consistently retirees, who are all at the conservative “got mine, screw you” point in their lives.
With that being said, we do an embarrassingly poor job of educating the youth on the function of our government. Most can’t name the three branches, let alone tell you what they do, or articulate the difference in Federal vs. state oversight. They just blame the president for repealing abortion rights, keeping marijuana a criminal offense, high gas prices, expensive fast food, and unacceptable behavior of local police. None of which are under the oversight of POTUS, and most of which could be affected by actively participating in voting in local, state, and congressional elections.
Yep. The president is merely our top diplomat. Yes he runs the executive branch and has some power over it. People are so uneducated attributing so much more to him than he ever had power to really influence or control. It's supremely easy for the armchair analysts to squeal about genocide Joe. Without understanding the near Century long effort and ties with Israel involved. That he cannot just pull out the rug from that on his own. And without consequence. That's a job for Congress.
And yes political education is abysmal in the United States especially. With lots of propaganda and lies being taught as facts. It's the reason we're all told not to discuss politics and why we continue to keep it taboo. Because so many people don't understand, rather relying on emotion. It makes it near impossible to have an actual productive discussion. By design.
He could amend support against Congress if the State Department returned findings of war crimes in their report. Moving without that, and against Congress, would be unfounded.
He controls the State Department. Like sure, theoretically they just do their job producing an independent report that gets to his desk and then he finds out what it says for the first time, but realistically no, they support what the White House says. That's why there's so many people resigning.
You guys had a whole good back and forth about real things that were done and matter and then deviated into "Biden actually has no power so nothing is his fault" on the things that he does, unquestionably, have power over.
Obama addressed the housing market bubble by bailing out the banks when he could’ve issued the same relief to those who were exploited.
I've read his autobiography focusing on this period, iirc according to him his advisors said there were basically only three options.
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Bail out the banks who had a part in causing the issue and subsequently failed. (His least favorite but what he ultimately picked)
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Bail out the mortgages of the people who were at risk of foreclosure. (His favorite option)
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Complete nationalization of failed banks with extra actions like forgiving all at risk mortgages (He was tepid on this)
The problem was that those solutions are in order of increasing expense and decreasing likelihood of Congress's will to pass. Meanwhile the economy was burning down and his advisors were saying we could have another great depression if action wasn't taken immediately.
That’s interesting. I may read his autobiography myself. Personally, I’d have preferred to see him try to pass mortgage relief through Congress and fail, than to go right for the bank bailout. I can see how timeliness was his priority, but our unhoused numbers and housing market would look very different had mortgage relief passed.
I can see how timeliness was his priority, but our unhoused numbers and housing market would look very different had mortgage relief passed.
Oh yeah in hindsight most people would say they'd prefer the mortgage bailout rather than the bank bailout. But when you're a young president in your first days of office and people with economics degrees are screaming about how it's all burning down..
I understand why he did what he did, should've definitely still tried to of gotten way more mortgage relief afterwards though.
I just wanted to note that it wasn't exactly the sneering "Yes let me fuck over the working class as much as possible for my neoliberal values" as some people claim.
I was unaware of the motive, and assumed it was related to the Citigroup members of his cabinet. It’s nice to know the inside track. I’m still critical of the decision, but at least I understand it better now. My previous perspective always conflicted with my understanding of his leadership.
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Are you kidding me? He isn't at all conservative. Or does "conservative" now mean "trump", because in that case no one indeed can be more "conservative" than him.
He's conservative in the liberal sense. But Democrats have always been. And he's no different. Socially he's part of the reason we have marriage equality. Ironically putting Obama in the uneasy position of supporting it from the executive branch due to one of Biden's patented gaffes. Honestly Biden has impressed me. Though my expectations were so low that's not necessarily always a compliment. Though in this situation it kind of is.
The decision of his nlrb is one of the greatest labor victories of the last century. Not to mention the ftc's recent non-compete decision. Both massive and not at all "conservative" in the American parlance of the term.