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General Discussion

thucythucy

(8,559 posts)

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

Reply to returnee (Reply #4)

Sat Jul 20, 2024, 01:49 PM

Jul 20

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.

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Here is what I believe and it ain't pretty... [View all] Self Esteem Jul 19 OP

If the goal was to stir up resentment against the ultra Phoenix61 Jul 19 #1

This is the oligarchy Citizens United furthered misanthrope Jul 19 #2

100%. Self Esteem Jul 19 #3

That only explains half the equation. returnee Jul 19 #4

Very true. I don't have an answer for that. Self Esteem Jul 19 #5

Crytpo bros are outwardly pulling high risk strings. LeftInTX Jul 19 #11

What do they lose with Biden... returnee Jul 19 #19

I'm find out a bit more billionaire Mike Novogratz. He's gay. Part of him is Dem. The other part is GOP. LeftInTX Jul 19 #21

Looser rules, basically. NoveltySocks Jul 19 #25

Biden has proposed a tax on crypto, crypto mining costs. 58Sunliner Jul 20 #36

And all those Democrats... returnee Jul 20 #39

The crypto bros already are in the tank for Trump Generic Brad Jul 20 #42

Yes, you inserted a straw man. 58Sunliner Jul 20 #43

Explain. returnee Jul 20 #45

........ 58Sunliner Jul 20 #46

Of course, why didn't I see that before. returnee Jul 20 #49

Look at Biden's record. Rincewind Jul 20 #40

Tell me which potential replacement candidates... returnee Jul 20 #41

There are no potential replacements named.... we can do it Jul 20 #51

Taxes? LisaL Jul 19 #14

Who other than Biden... returnee Jul 19 #20

Trump? LisaL Jul 19 #22

You think... returnee Jul 19 #23

Biden will begin campaign finance reform LiberaBlueDem Jul 19 #15

Because they're having to pay more for labor? Because they might have to pay taxes due? BComplex Jul 19 #26

Maybe to ensure a Trump victory which will be good for the billionaire class ramapo Jul 19 #30

The 25% billionaire tax he mentioned in the debate? CrispyQ Jul 19 #33

If these big donors want Democrats to win Martin Eden Jul 20 #38

One theory is the ultra-wealthy started to jump ship when President Biden proposed thucythucy Jul 20 #53

And if money talks that loud they don't need me or you. Biophilic Jul 19 #6

So here's where I'm a bit confused. chowder66 Jul 19 #7

I'm sure Schiff is concerned about the Senate. Self Esteem Jul 19 #9

That makes sense. Thank you! chowder66 Jul 19 #24

The maximum legal amount is $6600. DFW Jul 19 #8

It's not a stretch to think if he's holding back direct donations that he would PAC donations too. Self Esteem Jul 19 #10

They're all getting PAC money. LeftInTX Jul 19 #13

Is there confirmation to what Candidly Tiff posted? Silent Type Jul 19 #12

It's published in NYT. LisaL Jul 19 #16

It's from a New York Times article. Self Esteem Jul 19 #17

Thanks. At least the article indicates some other big donors are staying the course behind Biden. Silent Type Jul 19 #18

Seems like campaign finance reform could be crucial. dchill Jul 19 #27

Explains a lot. mahina Jul 19 #28

The moneyed class is on the attack blue-wave Jul 19 #29

Seems like they are testing their ihfluence here Bettie Jul 20 #44

Winner! And sadly there are dems controlled by $$$$$ we can do it Jul 20 #52

I don't think they just want Biden out. It seems to me they already have someone in mind who will cater to them. 58Sunliner Jul 19 #31

Here's the question I have when this come up confoosed Jul 19 #32

Maybe they think the donors will come back. Self Esteem Jul 20 #34

I'm not ForgedCrank Jul 20 #35

Congressional politicians are most at risk in their applegrove Jul 20 #37

Or they answer with the truth... Self Esteem Jul 20 #55

Good answer. applegrove Jul 20 #56

I don't believe that. It has come out that money guys are pushing Democrats into doing this... Demsrule86 Jul 20 #48

So you don't find it curious that two days ago a mega donor demanded Sen. Heinrich come out against Biden... Self Esteem Jul 20 #54

The point is not whether they want Trump to lose...it is that they are willing to kowtow to the money guys Demsrule86 Jul 20 #47

The bottom line to all this BS that President Biden has to step aside is "money". IMO republianmushroom Jul 20 #50

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