Many CEOs fear a Second Trump Term would be Worse than the First

  • Many CEOs fear a Second Trump Term would be Worse than the First

    Posted by outdoorsguy on January 24, 2024 at 11:11 am

    When Donald Trump left office three years ago, still huffing, puffing and plotting to overturn the results of the 2020 presidential election, the leaders of most of America’s biggest corporations were only too happy to see the back of him.

    They wore their moral outrage like a badge of honour. True, they had conveniently put aside their earlier scruples about Mr Trump’s suitability for the White House, bought off by generous corporate and personal tax cuts in 2017.

    True, many had cravenly turned a blind eye to his torching of environmental rules in support of a broad-brush regulatory bonfire.

    But his attempts to subvert American democracy, and the storming of the Capitol by his supporters on January 6th 2021, were a step too far.

    With unusual unity, they huffed and puffed back. Manufacturers called the riots a “disgusting episode”.

    The Business Roundtable, a lobby group for big companies, called on Mr Trump to “put an end to the chaos”. Some prominent firms pledged not to provide financial support to the 147 Republican lawmakers who had refused to certify Mr Trump’s defeat.

    Many CEOs fear a second Trump term would be worse than the first

    Though they will only say so in private

    In recent years, as the relationship between big business and Trump’s MAGA Republicans has deteriorated, executives have learned the hard way about the risks of sticking their heads out. A CEO public relations adviser thought a year ago that it would be relatively easy for companies to reject Trump because of his legal problems.

    However, along came the unofficial boycott of Bud Light beer by right-wing culture warriors, offended by a marketing campaign featuring a transsexual influencer. And then that public relations specialist realized the power of the masses to harm the bottom line. “We are walking on eggshells again,” he says; Companies are caught between workers and progressive customers who demand that companies take a stand against Trump and fear of the MAGA mob.

    Trump could weaponize administrative agencies and use them against his corporate enemies, Neil Bradley of the US Chamber of Commerce counters that Biden has also urged his administration to crack down on “tariffs”. “unnecessary” and abusive prices in sectors ranging from airlines to banking and healthcare. Bradley does not make many distinctions between the economic populism of both parties.

    Some business owners angrily reject efforts to draw parallels between the dangers of Trump and Biden. They call this practice a simple recourse to “and you more” and quietly declare themselves terrified at the prospect of a second Trump term.

    The Twice Impeached, 4 times indicted, Florida Criminal Defendant may have pushed radical policies, but the sensible conservatives in his administration, as well as his own predilection for chaos, managed to get the best of him.

    The Florida Criminal Defendant is now surrounded by true believers, such as the Heritage Foundation, a pro-MAGA think tank whose job, one business leader says, is to “prevent the improvement of Trump’s program.”

    In other words, Trump is counting on people to push a plan that could shake the economic framework in which American businesses have prospered for generations. The pillars of that plan that are of greatest immediate concern to corporate America are trade, immigration, the fiscal deficit and clean energy.

    The most obvious concern is a trade war. Trump, who has branded himself a “tariff man,” has floated the idea of ​​imposing a 10% benchmark levy on all imports. They would be raised, following the logic of “tit for tat,” in retaliation against any country with a higher tariff. The main objective is China. Businessmen fear that Trump’s intention is to unilaterally end trade with China, which would be a nightmare for any company exposed to that country.

    Trump “is not changing his speech”; His sense that everything is a deal and that the United States is a victim is stronger than ever. His top trade advisers, protectionist hawks like Robert Lighthizer and Peter Navarro, “know how to play on those beliefs,” Lassman says.

    Trump’s threat to detain and deport millions of undocumented immigrants has also alarmed businesses; not only for humanitarian reasons, but also because of the chronic shortage of workers. In November, the United States had 8.8 million unfilled jobs.

    The United States’ environmental record under Trump is another concern.

    It is expected that the Florida Criminal Defendant, as the current one has done, will redouble his efforts in industrial policy.

    However, unlike Biden, whose flagship effort (the Inflation Reduction Act) has been environmentally friendly, Trump remains a climate change skeptic who will likely try to cut clean energy programs.

    In that case, the low life Criminal may face rejection from his own party. Many of the clean energy projects funded by the Inflation Reduction Act are in Republican-leaning states.

    The Florida Criminal Defendant is also likely to oppose a rollback of Biden’s green agenda. Bradley says that while industrial policy in general remains “most problematic,” government programs that induce behavioral change are justified when the technology is in an early stage, as is the case with clean energy.

    And if Trump’s policy proposals directly related to business do not inspire confidence, his efforts to undermine faith in the judiciary, the rule of law, NATO and other alliances, including support for Ukraine, raise big questions about the role of the United States in the world.

    Trump has weakened the rule of law and the sanctity of contracts and treaties would spread around the world. “Things like the rule of law are fragile concepts that disappear overnight,” says a New York financier.

    https://www.economist.com/business/2024/01/16/many-ceos-fear-a-second-trump-term-would-be-worse-than-the-first

    outdoorsguy replied 4 weeks, 1 day ago 5 Members · 5 Replies
  • 5 Replies
  • Muscle4Muscle2009

    Member
    January 25, 2024 at 1:33 am

    America deserves Trump…they’ve earned him.

  • Metatron

    Member
    January 25, 2024 at 1:22 pm

    Outstanding Fake news story. Name one CEO that wants a senile Biden to run again? Internationally he is a laughing stock.

  • ObscureandFuzzy

    Organizer
    January 25, 2024 at 6:33 pm

    Many CEOs fear a Second Trump Term would be Worse than the First

    Posted by @outdoorsguy on January 24, 2024 at 11:11 am

    I seem to remember our Democrat / leftist / socialist friends whining incessantly during the Trump presidency that his policies were just benefiting the CEOs and “big business.” A bit of revisionist history going on here…

  • outdoorsguy

    Member
    January 26, 2024 at 9:39 am

    Trump continues to prove everyday that he has no regard for the constitution, the rule of law, America or it’s citizens.

    His brain dead supporters are symptomatic of how our education system has failed those with limited intelligence and cognitive abilities

    The Twice Impeached, 4 times Indicted Florida Criminal Defendant Facing 94 Felonies threatens on his failed social media site that anyone who gives to Haley will be “permanently barred from the MAGA camp.” It’s a salvo that could leave the Wall Street crowd, many of whom were long seen as eager to find a Trump alternative, in an awkward spot — especially as his path to the nomination becomes clearer.

    Haley’s super PAC, which has drawn support from an array of business and finance executives, told the New York Times on Thursday it brought in $50.1 million in the second half of 2023, outraising Trump’s PAC, which brought in $46 million. Wall Street billionaires Stanley Druckenmiller, Henry Kravis, Ken Langone and Cliff Asness are hosting a Haley fundraiser in New York next week, according to Bloomberg.

    But Haley’s odds of securing the GOP nomination look longer by the day — giving executives ample reason to avoid Trump’s ire.

    “Trump knows how to play the system against itself,” said former Republican National Committee Chair Michael Steele.

    The Florida Criminal Defendant oversaw economic growth and signed into law large corporate tax cuts that executives cheered, but high tariffs from his trade war with China hurt U.S. stock prices. And business leaders vowed to ditch him following his claims about election fraud and the Jan. 6 Capitol riot. < https://www.nbcnews.com/politics/2024-election/trump-threatens-blacklist-haley-donors-rcna135586

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