Tuesday, February 6, 2024

What Is Not To Understand?

 With the American democracy on the verge of hijacking and collapse under Trump-led Republicans, where are America's corporations and corporate voices in the press? Do our corporate CEOs and boards not fear the ramifications of Republicans in Congress and the executive branch and corruption in the Supreme Court?

Time Magazine:

Florida Governor Ron DeSantis recently taunted business leaders in The Wall Street Journal column, announcing, "Old-fashioned corporate Republicanism won't do in a world where the left has hijacked big business…policies that benefit corporate America don't necessarily serve the interests of America's people and economy." It used to be evident that CEOs were reliably Republican. Corporate executives wanted lower taxes, less regulation, and a stable economy. They were usually men with military experience who moved out to the suburbs with their families. Ronald Reagan was their favorite president: pro-business, pro-free markets, and anti-government. Historically, 57.7 percent of big company CEOs contributed to the GOP, but only 18.6 percent contributed to Democrats, according to the National Bureau of Economic Research.

It was an anomaly that FDR's administration, as a Democratic team, was packed with Wall Streeters. The Eisenhower team was more typical for the GOP, with many business leaders on board—two with the same name, Charles Wilson. "Engine Charlie" was the CEO of GM, and "Electric Charlie" was the CEO of GE. The interests of big business and GOP politics were presumed to be in tight alignment with poor Engine Charlie haunted to his deathbed by the misquote, "What is good for General Motors is good for the US." (He actually said the reverse.)"



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