Wall Street would rather give Trump another term than vote for Warren

Wall Street would rather give Trump another term than vote for Warren

According to CNBC, one of the reasons, among several, is that investors are worried she’ll reveal the not-an-actual-secret that the 2017 tax cuts almost exclusively benefited corporations:

Democratic donors on Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle — or even back President Donald Trump — if Sen. Elizabeth Warren wins the party’s nomination. In recent weeks, CNBC spoke to several high-dollar Democratic donors and fundraisers in the business community and found that this opinion was becoming widely shared as Warren, an outspoken critic of big banks and corporations, gains momentum against Joe Biden in the 2020 race.

A hedge fund executive pointed to Trump’s tax cut as a reason why his colleagues would not contribute or vote for Warren if she wins the nomination. “I think if she can show that the tax code of 2017 was basically nonsense and only helped corporations, Wall Street would not like the public thinking about that,” this executive said, also insisting on anonymity.

One senior private equity executive just came out and said it: I’d rather a president who grossly abuses power than who would subject my industry to further regulation. “You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump,’” this person told CNBC a day after Nancy Pelosi announced a formal impeachment inquiry.

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