A The latest Wall Street Journal “Big business and the Republican Party are falling apart,” according to a leading story. Corporate donations to Republicans fell to their lowest level in nearly a decade during the last election cycle. The U.S. Chamber of Commerce has backed several Democrats running for Congress in a close and competitive race, putting the GOP’s slim majority at risk.
The writing is on the wall: Corporate America is aligning itself with liberal Democrats, not Republicans.
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This shift in corporate loyalty is the result of some bad decisions by Republicans. The GOP’s visionary campaign has led to “dismantling Big Tech,” and the party’s slide toward tariffs and away from free trade, a pillar of prosperity, is troubling for any free marketeer. We should have free trade with countries like China unless they threaten US security.
The real question is whether the GOP wants or needs support from corporate boardrooms, which are increasingly “awakened.” Maybe it’s time for a divorce.
Big business is teaming up with big government. Democrats are passing the Biden bucks, and corporate America wants free federal money. Like field mice, the Democrats spill what scraps they have from their pockets.
Corporate security spending in Washington is at an all-time high, with hundreds of billions of taxpayer dollars funneled into the coffers of the climate change industrial complex, semiconductor companies and other Beltway bandit industries.
Principled free-market Republicans rail against runaway government spending and debt, high-regulatory laws tied to 19th-century antitrust laws like Federal Trade Commission Chairwoman Lena Kahn, corporate welfare programs that increase big business’s reliance on government, and “too-to-fail” corporate welfare programs. It goes against the Wall Street doctrine of “big”.
If corporate America opposes that agenda, don’t let the door slam on your fan on your way out of the party.
After all, the alliance between big business and big government is simply the kind of thing called “fascism.”
What is the alternative for the GOP? It’s obvious. Republicans should be the party of the 80 million small business men and women who employ more than 60% of our workforce. “Most small businesses don’t have PACs and lobbyists and fancy Key Street Washington offices,” says Alfredo Ortiz, president of the Essential Entrepreneurs Network. They want to be left alone.”
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He is correct. My father ran a successful small business outside of Chicago for 40 years. He worked long hours and was often gone when I was growing up. I don’t think he ever visited Washington D.C. He had a disdain for politics and most politicians. That is precisely the universal attitude of employers. And who can blame the lawyers, bureaucrats, and politicians in Washington who know nothing about business or profit because they have so many rules?
If big business wants to shut down and make peace with a party that hates enterprise, entrepreneurship, and profit, that’s a sad commentary on the state of corporate America, not the GOP. President Calvin Coolidge once said, “Ninety percent of the people who come to Washington want what they shouldn’t have. Too often these days our Fortune 500 companies want your money and mine, and that’s something they shouldn’t have.