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Democratic business heavyweights are threatening to vote for President Trump in 2020 or sit out the election if the party nominates Senator Elizabeth Warren, who has made cracking down on Wall Street a pillar of her campaign.
Nervousness among major Democratic donors in the business world has heightened as Warren continues to gain ground on the current front-runner for the Democratic nomination, former vice president Joe Biden.
“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,’” a senior private-equity executive told CNBC after a formal impeachment inquiry into Trump was announced.
Warren has proposed a wealth tax of 2 percent on families with $50 million in assets and a 3 percent tax on those with $1 billion in assets. The Massachusetts senator has also targeted private-equity firms with her Stop Wall Street Looting Act, which would hold the firms responsible for the debts and pension obligations of the companies they purchase. 34
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See Also:
(1) The Democratic Primary Is Looking More Like a Two-Way Race
(2) Schumer: Intelligence Agencies ‘Have Six Ways From Sunday Of Getting Back At You’
(3) ‘Impeachment inquiry,’ a pre-crime for the ages
(4) Adam Schiff should be forced to take oath before every hearing
