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Sat Jan 9, 2021, 06:12 AM

"They Should Have Known From The Beginning" - Big Business Supported Trump; Now Shocked, Shocked

EDIT

Business groups big and small largely stuck by Trump as he broke one norm after another over the past four years, including insulting immigrants, appearing to empathize with white supremacists in Charlottesville and clearing a Black Lives Matter protest in Washington for a photo op. They stuck by him still after he threatened the Ukrainian prime minister in a bid to help his election chances, after his impeachment, after he intentionally downplayed the effects of the novel coronavirus and last week after he was recorded pressuring the Georgia secretary of state to overturn the election results.

The once-comfortable alliance between Trump and Corporate America has shown unprecedented strain since Wednesday’s attack, forcing a reexamination of everything that businesses had won over the last four years from a White House now thrown into chaos. Following the attack on the Capitol, advisers crucial to the president’s economic policies tried to distance themselves from the Trump-induced mayhem. Some resigned, such as former chief of staff Mick Mulvaney, who was serving as envoy to Northern Ireland, explaining to CNBC that, “we signed up for lower taxes and less regulation.” Companies considered cutting off the money spigot to the politicians seen as fomenting the worst of it. Firms that did business with the Trump family were reexamining the cost of being associated with a historic insurrection.

Yet some officials sought to maintain a neat separation between Trump’s economic policies and what had occurred at the Capitol. “It isn’t going to affect tax rates. How about monetary policy? Allow me to stay pure to my turf,” Art Laffer, a supply side economist who is close with White House economic officials and speaks to the president, said in a brief interview.

But there remained plenty of criticism for the business world’s willingness to go along with Trump for so long. “Their attitude was: ‘Let’s take the big tax cuts and hold our noses for the obvious xenophobia and authoritarianism.’ It was a classic Faustian bargain,’ ” said Rep. Brendan Boyle (D-Pa.), a member of the House Ways & Means Committee. “They should have known from the beginning.”

EDIT

https://www.washingtonpost.com/business/2021/01/08/trump-policies-corporate-america/

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Reply "They Should Have Known From The Beginning" - Big Business Supported Trump; Now Shocked, Shocked (Original post)
hatrack Jan 9 OP
Irish_Dem Jan 9 #1
KY_EnviroGuy Jan 9 #2
My Pet Orangutan Jan 9 #3

Response to hatrack (Original post)

Sat Jan 9, 2021, 06:20 AM

1. Wonder if they think the tax cuts were worth it.

They are finding out a raging pandemic, financial crisis, and social upheaval are not good for business.

Maybe big business will appreciate Biden, good governance with experienced competence leadership.

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Response to hatrack (Original post)

Sat Jan 9, 2021, 06:28 AM

2. Just take a look at some of the ones that funded that DC rally.....

(copied from https://www.democraticunderground.com/?com=view_post&forum=1002&pid=14859028 )

REPUBLICAN ATTORNEYS GENERAL DARK MONEY GROUP ORGANIZED PROTEST PRECEDING CAPITOL MOB ATTACK

The Rule of Law Defense Fund (RLDF), a 501(c)(4) arm of the Republican Attorneys General Association (RAGA), helped organize the protest preceding the deadly attack on the U.S. Capitol that took place on January 6, 2021.

Funded in part by......
.....including Koch Industries ($375k), Comcast Corporation ($200k), Walmart ($140k), Home Depot ($125k), Amazon ($100k), TikTok ($75k), 1-800 Contacts ($51k), Chevron ($50k), The National Rifle Association ($50k), Monsanto ($50k), Facebook ($50k), Fox Corporation ($50k), Uber ($50k), Coca Cola ($50k), Exxon ($50k), and Google ($25k).


Our whole system of capitalism is corrupt so long as corporate contributions to politics are allowed.

I'm sure they want Republican AGs that will "protect their interests" (profits). They are not our friends.

KY

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Response to hatrack (Original post)

Sat Jan 9, 2021, 07:28 AM

3. Fear vs Greed - they chose Greed

and like a market crash, now they are heading for the doors.

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