Kamala Is Supported By Big Business; It's No Surprise

AP Photo/David J. Phillip

Kamala Harris spends a lot of time bashing big businesses, accusing them of "price gouging" and criticizing them for excessive profits. 

So why is the Harris campaign simultaneously bragging that not one CEO of a Fortune 100 company is supporting Donald Trump?

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It's pretty simple, really. Big government and big business coexist quite well. It's startups, small businesses, and disrupters to the status quo who are the government's target, not big business. 

All you need to do is look at the COVID-19 policies to see how this works. Big companies did extremely well out of the pandemic-era policies, while smaller businesses got crushed. The largest transfer of wealth in human history took place, and it was from the little guy to the big guy. 

During the pandemic, while Americans suffered through lockdowns, shutdowns, and massive disruptions, hundreds of new billionaires struck it rich. Big corporations thrived as their smaller competitors were shut down. There was a massive quid pro quo--corporations back the government's awful policies, and the government will help the big guys get even richer. 

No major corporation is worried that they will be hit by "price gouging" investigations; they just have to play ball with Kamala and she will play ball with them. 

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What is interesting to me is how decisively the startup CEOs are moving toward Trump. Big businesses are quite happy with Kamala's candidacy, while entrepreneurs are running scared. 

It's not just Elon Musk. A wave of investors in startups are scared to death of the politicization of the economy, while the big boys on Wall Street are confident that they can cut a good deal with a Harris administration. The investors are looking at what the government is doing to Elon Musk and fear it could happen to them. And they are right. 

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Economic growth is based on creative destruction--something that the winners in any economy fear. A Harris administration promises a bigger chunk of a stagnant pie, which is great for the incumbents. A Trump economy promises a bigger pie, but one in which the current winners might not get the slice they like. 

Think Boeing vs. SpaceX. Do you think Boeing is happy that SpaceX has innovated the space industry into a fast-growing industry, or do you think they would prefer an economy with a lumbering space industry, which they nearly monopolize? 

That Kamala Harris gets the support of all those big company CEOs should be a red flag, not a "win." It tells you that she is comfortable with an economy in which the rich get richer and the rest of us get screwed. 

Wall Street learned to love the Democrats over the past couple of decades. They figured out how to cut deals with the people who control the bureaucrats and Democrats. Whether it is Big Pharma or any other big industry, cozying up to power is their business model. 

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This is why Biden, in promoting EVs, celebrated the Big Three and excluded Tesla. The government prefers big, regulated industries, and big, regulated industries use the government to crush the smaller competitors. 

A Kamala Harris administration would be a disaster for the US economy but a boon to the biggest players out there. The inverse of "too big to fail" is "small enough to crush," and the Fortune 100 is filled with too big to fail companies. 

Of COURSE they like the prospect of a Harris administration. Nothing could be better for the partners of the blob. 

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John Stossel 6:40 PM | September 16, 2024
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