Business Is Not Turning Against GOP

Chamber of CommercseYou know me. I’m not inclined to agree with the world view of many publication with “business” in the title. And I’m even less inclined to agree with anything that related to Michael Bloomberg. Still, I read Bloomberg Businessweek all the time and often find it informative. Yesterday, Joshua Green wrote an interesting article, Republicans Are No Longer the Party of Business. But as you may have guessed based upon the bullshit title, I don’t much agree with it.

The title is a gut buster, ain’t it? I could count the ways, but I won’t. The Republicans have never been the party of business. They’ve been the party of big business. But actual small businesses like the doughnut shop across the street from Grocery Outlet? No way! What’s always been sad is that the Republicans are really good at the kind of rhetoric that appeals to small business owners. I know! I’m one now and I’ve been one many times throughout my life. But what I’m not is naive enough to think that Republican rhetoric has anything to do with how they govern.

But it’s worse than that. Even for big business, the Republican Party has not been especially good for at least two decades. What the Republican Party has been good for—now and forever more—is the rich. Because the one thing you can count on is that the Republicans will cut the taxes of the rich. The last two Democratic presidents have been very pro-business and indeed, very pro-big business. All Obama and Clinton did was raise taxes a couple of percentage points on the rich. Oh my God!

Last year, the US Chamber of Commerce spent $35,657,029 on federal elections. And how much of that was spent on Democrats? A great big $305,044. That’s 0.86%. Bill Clinton was president during a huge economic boom. Obama has been president during a “recovery” that has seen 95% of it go to the top 1%. Yet the Chamber decided that that the Democrats deserved 0.86% of its largess. In fact, this was after the Republicans in 2011 created a Debt Ceiling crisis that everyone agrees greatly hurt economic growth. Yet the Chamber of Commerce decided that the Democrats deserved 0.86% of its federal political donations.

So sure: the Chamber is angry with the Republican for shutting down the government. And if the Republicans cause a government default, the Chamber will be apoplectic. But in 2014 and 2016, you can bet that the Chamber will spend the vast majority of their money on the Republicans. Because the Chamber—and big business in general—doesn’t care so much about a good economy so much as they do that their taxes stay as low as possible. The Democrats might raise taxes by a percent or two. The Republicans might crash the world economy. On balance, big business thinks the Democrats are the bigger risk to them.

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About Frank Moraes

Frank Moraes is a freelance writer and editor online and in print. He is educated as a scientist with a PhD in Atmospheric Physics. He has worked in climate science, remote sensing, throughout the computer industry, and as a college physics instructor. Find out more at About Frank Moraes.

0 thoughts on “Business Is Not Turning Against GOP

  1. Big Business is okay with this Coup attempt because they expect the Democrats to flinch and cave.

    A Grand Bargain will be enacted which broadens the tax base (i.e. raises taxes on the Middle Class) and adds entitlements cuts (i.e stealing social security and moving it into Wall Street hands).

  2. @GeG – Yeah, I’ve got an article in the queue about just how stupid a grand bargain is. People don’t like tax increases and they don’t like benefit cuts. Typical of the Democrats to do the "adult" thing and thus destroy their electoral chances.

  3. Not to be petty, but I think it’s interesting that you didn’t have a birthday post on MY birthday. You know, turning 40-fucking-8 is a kind of a big deal.

    On your birthday (FEBRUARY 10) I’ll show you how a real friend tastefully acknowledges someone else’s next feeble step toward oblivion.

    And BTW, now you can blame me for your bad attitude. "With friends like that you expect me to be happy?!"

    You’re welcome ;)

  4. @Andrea – Yes, but at least I [i]did[/i] remember it. I think I wrote this before I remembered it. Wait! Why didn’t you put this on the birthday post?!

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