Here is what I believe and it ain't pretty...

[Self Esteem]

Let me start by saying I absolutely believe every single Democrat who has come out against Biden running for reelection these last few days wants Donald Trump to lose.

I don't think that's really up for debate.

But it's telling that the Democrats who have come out against Biden are generally congressional Democrats.

I find that key because congressional Democrats, whether people want to believe it or not, oftentimes raise their money through the national party and big donors. It's just the reality. Especially in a presidential election. Most congressional candidates running across this country are not going to get a bulk of their money for their campaign from small doners like a presidential candidate might. They often don't run national campaigns and their districts are not populated enough to support the financing of those campaigns.

The truth is that we know big donors are threatening House and Senate Democrats with funding. This isn't some conspiracy. It's fact.

One example is Tom Strickler, who founded the talent agency WME. He is on record saying to Senator Martin Heinrich, who today announced Biden should not run for reelection, that if he did not come out demanding Biden step aside, he would not get a dime from him.

Surprise! Heinrich announces he's not supporting Biden.

I know we want to believe this is entirely driven by the need to win. The facts don't seem to support that. Yes, Nancy Pelosi is a dedicated public servant and someone who deserves our trust. But she's also a politician and she knows the game. She knows if these Democrats continue to support Biden publicly, regardless if she agrees with it or not, the big party donors are going to close their wallets to the party and many of these candidates in swing districts.

At the end of the day, while Pelosi absolutely wants Trump to lose in November, I think she wants Democrats to take back the House more. And as much as Schumer wants Trump to lose in November, he absolutely wants to keep his majority more.

And that's why there's no plan outside forcing Biden out. There doesn't need to be a plan with these donors. They've said, point blank, as Strickler said to Senator Heinrich, "if you back Biden, you will lose our support. Over and out."

Over and out, folks. The donors have spoken.

And that's why it's almost entirely congressional Democrats throwing Biden under the bus - because money talks.

There's no Plan B if Biden drops out because the only plan from these rich donors is to push Biden out. That's all they care about at this point.

These members of congress are moving because they fear the wrath of the donor class more than they fear the wrath of party voters.

[Phoenix61]

1. If the goal was to stir up resentment against the ultra

wealthy I can’t think of a better way for them to achieve that goal. Biden has a record of supporting the American worker and their families. I can’t think of a better man to lead the charge against a bunch of rich, over-entitled jerks.

[misanthrope]

2. This is the oligarchy Citizens United furthered

It is similar to how the Fourth Estate is most often influenced by advertisers.

[Self Esteem]

3. 100%.

[returnee]

4. That only explains half the equation.

It’s easy to understand why a politician would want money (though it does not quite explain why they would do the wrong thing to get it. Isn’t it a bit of unseemly quid pro quo as well?)

But also, it does nothing to explain why these donors want Biden out so badly. I’ve yet to hear the explanation.

[Self Esteem]

5. Very true. I don't have an answer for that.

I can just assume they never have liked Biden and see this as their opportunity to finally drop him.

[LeftInTX]

11. Crytpo bros are outwardly pulling high risk strings.

[returnee]

19. What do they lose with Biden...

…that they would gain from someone else (as yet unknown)?

[LeftInTX]

21. I'm find out a bit more billionaire Mike Novogratz. He's gay. Part of him is Dem. The other part is GOP.

He might be a Democrat because he's openly gay. However, everything else about him is probably GOP, especially not wanting regulation for anything. Novogratz appears to be the ringleader behind all of this. Fiscally, he's probably big GOP, but he's likely with the party due to it's support for LGBT. (This is my theory. I need to create some "logic" in my mind about this) Sure you can be gay and be GOP, but it would be very difficult to be openly gay and lead the life that you want to lead. It wouldn't be much fun! No pride parade etc!

[NoveltySocks]

25. Looser rules, basically.

From May: "The Senate voted 60-38 to back the effort, which would undo a rule that directs companies to mark digital assets as liabilities on their balance sheets. The White House has already said Biden would veto it, his first axing of a standalone crypto measure."

Not all Dems agree with the Biden administration w/r/t cryptocurrency policy.

https://www.politico.com/live-updates/2024/05/16/congress/dems-buck-biden-on-crypto-00158412

[58Sunliner]

36. Biden has proposed a tax on crypto, crypto mining costs.

https://finance.yahoo.com/news/joe-biden-latest-budge-proposal-222303883.html

[returnee]

39. And all those Democrats...

…calling for Biden to drop out are pro-Crypto. I don’t buy it. And if true, it’s crypto-fascism.
(see what I did there?)

[Generic Brad]

42. The crypto bros already are in the tank for Trump

He's meeting with them in Nashville next week. The currency of choice by criminals and money launderers wants what they want.

[58Sunliner]

43. Yes, you inserted a straw man.

[returnee]

45. Explain.

[58Sunliner]

46. ........

[returnee]

49. Of course, why didn't I see that before.

[Rincewind]

40. Look at Biden's record.

Canceling student loan debt, lowering some drug prices, supporting unions. All things that take money out of the pockets of the rich donor class. They might be socially liberal to an extent, but impede their cash flow too much, and they get pissed.

[returnee]

41. Tell me which potential replacement candidates...

…do something different and gather the same popular support as Biden/Harris. Be specific, please.

[we can do it]

51. There are no potential replacements named....

[LisaL]

14. Taxes?

NT

[returnee]

20. Who other than Biden...

…will give them what they want?

[LisaL]

22. Trump?

[returnee]

23. You think...

…the same people willing to give money to Democratic legislators is hoping it will get TSFConvict elected? Can’t quite see it.

[LiberaBlueDem]

15. Biden will begin campaign finance reform

And that will end the big money influence on the government

It's what Bernie says must happen if we are to save America

[BComplex]

26. Because they're having to pay more for labor? Because they might have to pay taxes due?

......them, and the horse they rode in on.

Well, not the horse.

[ramapo]

30. Maybe to ensure a Trump victory which will be good for the billionaire class

Is that too cynical?

[CrispyQ]

33. The 25% billionaire tax he mentioned in the debate?

Some DUer suggested that & it makes sense.

[Martin Eden]

38. If these big donors want Democrats to win

(and why else would they be big donors for Democrats?)

Then what is their motive for wanting Biden out?

Either they think Biden would lose against Trump, or there is some Biden policy they don't like that would not be the policy of his replacement. What policy is it they're against?

[thucythucy]

53. One theory is the ultra-wealthy started to jump ship when President Biden proposed

the 25% tax on billionaires.

In addition, under his administration the IRS has finally been going after ultra-wealthy tax cheats, as opposed to what had been the focus on middle income tax payers:

https://www.msn.com/en-us/money/taxes/irs-collects-milestone-1-billion-in-back-taxes-from-high-wealth-taxpayers/ar-BB1pNle0?ocid=BingNewsVerp

Then there's his favoring a cap on rent gouging, and his effort to forgive student loan debt, debt held by companies that some donors have an interest in protecting and furthering.

This reinforces the view that even "liberal" millionaires and billionaires only remain so until their own entitlement to uber wealth is challenged. Sure, they don't want Trump, but they'd prefer a Democrat who knows how to suck up to his or her "betters."

And that ain't and never has been Joe Biden. Nor is it Vice President Harris.

[Biophilic]

6. And if money talks that loud they don't need me or you.

They can go buy the votes like they’ve bought the politicians.

[chowder66]

7. So here's where I'm a bit confused.

Adam Schiff is my rep.
He has a lot of campaign money and yes, Garvey has a lot of dough but California has had candidates that didn't have as much as others;

Think > Meg Whitman and Carly Fiorina. We sent them packing. We appreciate the extra cash they bring to our economy but we didn't want them repping us. Schiff has a very healthy lead.

[Self Esteem]

9. I'm sure Schiff is concerned about the Senate.

He is safe but if Democrats lose the senate, say because donors cut off funding like they're threatening to do if these guys don't come out demanding he step aside, it impacts his position too. He probably sees much more opportunity from his end if Democrats hold their majority and if the big donors start pulling back that funding, especially in swing races, their majority is at risk.

Certainly polls don't indicate Biden is a drag on many of these senate Democrats. But losing money would absolutely be a drag in a lot these races.

[chowder66]

24. That makes sense. Thank you!

[DFW]

8. The maximum legal amount is $6600.

Now, many Senators and Reps. have associated PACs, victory funds, whatever they are called, to which one can contribute more than the amount allowed to the campaign directly. I don't know if this is what Strickler is talking about, but if all he means is the maximum legal amount to the campaign, then that's $6600. Well, I have given that amount to several campaigns to Senators and Representatives, too. Does that mean I get to tell them to do my bidding? F*** NO, it doesn't. It gives me the right to request they hear me out on issues when they call me asking for contributions (or when we meet up for dinner in DC, if they are friends), but it sure as hell does not give me the right to control their political careers or the speeches they give or the positions they take on any issue. I'd have quite a nice congressional delegation in my pocket if it did.

[Self Esteem]

10. It's not a stretch to think if he's holding back direct donations that he would PAC donations too.

[LeftInTX]

13. They're all getting PAC money.

[Silent Type]

12. Is there confirmation to what Candidly Tiff posted?

[LisaL]

16. It's published in NYT.

[Self Esteem]

17. It's from a New York Times article.

https://www.nytimes.com/2024/07/17/us/politics/biden-democratic-donors-trump.html

[Silent Type]

18. Thanks. At least the article indicates some other big donors are staying the course behind Biden.

[dchill]

27. Seems like campaign finance reform could be crucial.

Don't we think?

[mahina]

28. Explains a lot.

[blue-wave]

29. The moneyed class is on the attack

and behind it all. It appears they want the middle class destroyed and locked into serfdom or worse yet, slavery.

[Bettie]

44. Seems like they are testing their ihfluence here

If they manage to get a sitting president to resign and put their own hand picked candidate in, then imagine what they can do by applying financial pressure to legislators who have already shown that they will do whatever they are told, if the financial strings are pulled.

It means that they will direct what legislation passes and doesn't because they hold the purse strings. Say good bye to regulations, social programs, Social Security, Meidcare, Medicaid, SNAP, anything else that costs money and doesn't directly benefit the top .01%.

And if they get Trump through this, congress becomes a rubber stamp for whatever he wants on any given day, most of which is good for oligarchs...well, until he crashes the economy.

[we can do it]

52. Winner! And sadly there are dems controlled by $$$$$

[58Sunliner]

31. I don't think they just want Biden out. It seems to me they already have someone in mind who will cater to them.

Last edited Sat Jul 20, 2024, 12:02 AM - Edit history (1)

I don't think they would leave this to chance Why do they want Biden out? Power and money. And from what we have heard and many surmise, they don't want Harris. We should never underestimate racism or sexism as well.

[confoosed]

32. Here's the question I have when this come up

The DNC needs money as well as they have to support national and local races, but they’re clearly sticking with Biden. Is there nothing they can do to help the Congress critters? How are they able to resist the mega donors? Are they just well funded enough to push back until Biden wins (when those folks will fold and come back to buy influence)?

[Self Esteem]

34. Maybe they think the donors will come back.

Or that since these Democrats officially called for Biden to not run, they did what they were asked to do and that's that.

[ForgedCrank]

35. I'm not

buying that this is some major high-level strategic operation of some sort.
I believe there are some who simply think our chances are better with another candidate. I don't know who that would be, but they are simply worried, nothing more, nothing less. I also believe they are wrong about Joe Biden, but I also do not have as much inside information on things as they do, so who knows.

[applegrove]

37. Congressional politicians are most at risk in their

Last edited Sat Jul 20, 2024, 03:36 AM - Edit history (1)

elections. What are they supposed to say when 70% of the electorate say Biden is too old? How do they answer that without either being blind or lying? Or saying yes. That makes them either clueless or liars to the voter, or unsupportive of Biden. Senate candidates too.

[Self Esteem]

55. Or they answer with the truth...

"I wish Joe was younger too. I'm sure he wishes he was younger! But I know he's been the most effective president of my life and continues to work his butt off for this country. He might be old but he's a fighter and that's what we need in the White House. He's fighting every single day for voters like you..."

[applegrove]

56. Good answer.

[Demsrule86]

48. I don't believe that. It has come out that money guys are pushing Democrats into doing this...

They need to do the right thing and have the courage of their convictions.

[Self Esteem]

54. So you don't find it curious that two days ago a mega donor demanded Sen. Heinrich come out against Biden...

...or risk getting no campaign contributions from him (and potentially his rich friends) and, surprise! He's one of the first Democratic senators to come out and tell Biden to step down as the nominee?

That's just a coincidence to you?

[Demsrule86]

47. The point is not whether they want Trump to lose...it is that they are willing to kowtow to the money guys

who apparently want Trump to win. I say primary them all next time. They care more for their own welfare than our Republic.

[republianmushroom]

50. The bottom line to all this BS that President Biden has to step aside is "money". IMO