Polls from all over the nation have reported a rise in support for Massachusetts Senator Elizabeth Warren. However, upon looking closer, we also notice that former Vice President Joe Biden has seen a drop in the polls. And rather than give their support to someone even older than the gaffe king, many are giving that vote to Warren.
But not all of them. In fact, recent reports confirm that a large quantity of major Democratic Party donors are saying they would rather give their money and their vote to Trump rather than Warren.
According to an article put out by CNBC on Thursday both Wall Street and big business donors of the Democratic party say Warren is terrible for business and that they will not support her. The headline read: “Wall Street Democratic donors war the party: We’ll sit out, or back Trump if you nominate Elizabeth Warren.”
During the last three years since Trump has been in office, Wall Street and high-level businessmen have seen tremendous growth both in their own companies and in the economy overall, and according to many, Warren would ruin all of that.
The article stated, “In recent interviews of several big-money Democratic donors and fundraisers in the business community, CNBC has found that this opinion is becoming widely shared as Warren surges against Joe Biden.”
And while most people in business interviewed for the article were given anonymity, nearly all gave a similar message.
One bank executive said, “It would be like shutting down their industry.” He also warned that policies promoted by Warren would be worse for the economy and Wall Street “than former President Barack Obama’s stifling regulations.”
And it’s not really all that hard to see where they are coming from. Warren has made a clear case that she is against big bankers, financial industries, and big tech. In addition, she plans to tax the wealthy considerably with her and Senator Bernie Sanders’ similar wealth tax. By design, the tax would be levied on every single dollar of a person’s net worth over $50 million. Not how much they make, but how much they have already, including assets such as properties and other valuables.
Any money raised by the government under her plan would then be given to funding an “equalizing” income, free daycare, and Medicare for All, among other things.
And these business-savvy Democrats are not sure they want to support someone who wants to take from them and give to those who haven’t worked for it.
One private equity firm executive said, “You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump.’”
The Democrat Party used to boast of their ability and willingness to fight for the working man and for businesses. But they have dropped the ball. And in the last three years, we have seen Trump and the Republican Party pick up that cause.
Trump has increased manufacturing and jobs in many industries, given tax cuts that put more money in American’s pockets, and fought trade wars that allow America to succeed. The economy hasn’t looked this good or been this stable in decades.
And for those in business and on Wall Street, it’s plain to see that Trump is behind much of it. For Democrats, it puts them in an uncomfortable situation and forces them to choose between their party or a man who actually works for them. Do they abandon the party of their youth, the ideas that have long held them to a certain standard but now are proving harmful to the nation? Or do they recognize Trump for the leader that he is, one that is willing to do whatever it takes to make our country great again?
For many, the choice is easy. Why would they want a president who doesn’t work for them?
So it seems that as Biden continues to fall in the polls and Warren takes his place, more and more Democrats are making the change to support President Trump.
By the looks of things, she just might end up with the nomination. But it’s clear that if she does, she’ll be going up against some of her party’s leading donors.