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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMany GOP billionaires balked at Jan. 6. They're coming back to Trump. (Because their tax cuts are expiring next year)
https://www.washingtonpost.com/politics/2024/03/29/trump-billionaires-gop-donors/https://archive.ph/VPqlh
Many GOP billionaires balked at Jan. 6. Theyre coming back to Trump.
Elite donors are rediscovering their affinity for the former president over taxes even as he vows to free Jan. 6 defendants, promises mass deportations and faces 88 felony charges
By Josh Dawsey, Jeff Stein, Michael Scherer and Elizabeth Dwoskin
March 29, 2024 at 6:00 a.m. EDT
The day after pro-Trump forces stormed the Capitol on Jan. 6, 2021, billionaire and GOP megadonor Nelson Peltz called the attempted insurrection a disgrace and expressed remorse for voting for Donald Trump. Im sorry I did that, Peltz said of supporting Trump in 2020.
But earlier this month, Peltz had breakfast with Trump and other billionaires at his luxurious Palm Beach oceanfront mansion, including hotelier Steve Wynn, Tesla and X CEO Elon Musk and former Marvel chairman Isaac Perlmutter, according to people with knowledge of the meeting, who spoke on the condition of anonymity to describe the private meeting. Peltz, a famous activist investor currently in a battle over Disney, then told the Financial Times that he would probably vote for the GOP front-runner in 2024. The New York Times first reported that Trump dined with Musk and other donors but did not name Peltz, Wynn or Perlmutter.
As hopes of a Republican alternative have crumbled, elite donors who once balked at Trumps fueling of the Capitol insurrection, worried about his legal problems and decried what they saw as his chaotic presidency are rediscovering their affinity for the former president even as he praises and vows to free Jan. 6 defendants, promises mass deportations and faces 88 felony charges.
The shift reflects many conservative billionaires fears of President Bidens tax agenda, which if approved would drastically reduce their fortunes, and in some cases their discomfort with his administrations foreign and domestic policy decisions. Some also have been assiduously courted by Trump and his advisers in recent months.
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Hugin
(33,164 posts)Claimed that they would no longer donate funds to TSF after Jan6.
Have they stuck to their pledge, especially after the RNC has become a de facto pipeline directly into Smelviss pockets.
What Fortune 500 Companies Said After Jan. 6 vs. What They Did
A new ProPublica app tracks corporate contributions to election deniers. From GE to Boeing, here are some of the behemoths that proclaimed that they were suspending donations then resumed giving to the very politicians they had sworn off.
by Alec MacGillis and Sergio Hernandez
Nov. 1, 2022, 8:01 a.m. EDT
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Take, for instance, General Electric, which issued a particularly strong clarion call in announcing a new post-Jan. 6 policy for its GE Employee Political Action Committee. The GEPAC board has voted to suspend donations to those who voted to oppose the Electoral College results, said Meghan Thurlow, GEs global director of public affairs. This is not a decision we made lightly, but is one we believe is important to ensure that our future contributions continue to reflect our companys values and commitment to democracy.
Less than two years later, GE has made contributions to 11 of the Republicans who voted against certifying the results. The companys explanation of the shift? The GEPAC boards broad suspension of donations to those who voted to oppose the Electoral College results remains in place, said a company spokesperson. However, like many other PACs, it will consider individual exceptions on a case-by-case basis.
Among the lucky beneficiaries of those exceptions: Rep. Ken Calvert of California, who said after the 2020 election that Trump has the right to ensure vote counts are complete, accurate and legal; Rep. Sam Graves of Missouri, who tweeted, I stand with President Trump. Every legal vote must be counted in complete transparency; and Rep. Ron Estes of Kansas, who decried the FBI search for classified records in Trumps Mar-a-Lago home as an outrage that undermines the credibility of the FBI. All voted against certifying the election. All are also on committees of importance to GE: Calvert is on the appropriations subcommittees for defense and energy spending, Graves is the top Republican on the committee overseeing transportation and infrastructure, and Estes is on the ways and means subcommittee overseeing taxation.
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Hugin
(33,164 posts)jimfields33
(15,823 posts)The Richs tax cuts were permanently passed. The working class tax cuts are expiring.
Irish_Dem
(47,131 posts)Cheap labor, tax cuts, no regulation.
edhopper
(33,587 posts)people with more money than God will wreck the country just to get a tax cut that amounts to the change in their worth on one big swing of the stock market.
They have more than they, their kids, or their grand kids will ever use. Yet they obsess with a 2% cut in the taxes they don't pay anyway.
ProudMNDemocrat
(16,786 posts)In lieu of Tax Cuts and no regulations if TSF were to win, he would DEMAND a cut of their overall wealth as a LOYALTY payment to him in order for them to exist. What percentage of that cut would have yet to be determined. That is how Vladimir Putin allows Russian Oligarchs to be rich.
After all, TSF thinks he is Numero Uno and thus there is a cost to be paid. The Dutchman must always have a Captain.
Freethinker65
(10,024 posts)The threatening of renegotiating and/or pulling out of trade agreements, the threatening of cutting/cancelling government contracts, the threatening of removing funding from cities/states/countries that Trump felt were defying him personally. The trade war tariffs because Trump felt insulted.
The economy is booming for billionaires. A majority of Trump's tax cuts for the wealthiest and corporations were intentionally made permanent, those for everyone else set to expire in 2025. Ballooning the deficit for the wealthiest was a priority for Trump and the GOP. Giving most everyone else a temporary cut was politics to bludgeon Democrats if they voted no to the entire package.