Jeffrey Sonnenfeld, CEO of the Govt Management Institute, stated Fortune 500 CEOs is not going to assist Donald Trump due to his financial plans.
Sonnenfeld stated on CNBC:
We glance again on the information, and over the previous 4 months we have been declaring that no Fortune 500 CEO has endorsed former President Trump. It was a historic breakthrough that goes again to William Howard Taft and Calvin Coolidge and Ronald Reagan and the Bush household and every part.
is that it has 40% to 60% public and monetary assist. It’s zero now and it was zero in 2016. That is extraordinarily inflationary. A blanket 10% tariff on all imported merchandise is loopy. This will surely result in a 3% enhance in inflation and a collapse in GDP.
After which he, that is earlier than including to the deficit in a retaliatory gesture. He needs to chop $5 trillion in taxes, however there aren’t any corresponding cuts and spending. So these are all questions.
Requested the place these CEOs stood within the election, Sonnenfeld stated: “They’ll be reluctant Biden voters. They do not need the material of society to be torn aside.
video:
Jeffrey Sonnenfeld, CEO of the Govt Management Institute: No Fortune 500 CEO helps Trump. It is a historic breakthrough. Trump’s financial plan scares them. That is extraordinarily inflationary. This may result in elevated inflation and a collapse in GDP… pic.twitter.com/eJUMyuQPg4
— Biden-Harris HQ (@BidenHQ) June 24, 2024
CEOs like the soundness of presidency. As Rachel Maddow points out, CEOs are involved with the rule of regulation, not the legal guidelines of their rulers.
Trump’s tariff plan will devastate the U.S. and international economies. This is able to be a catastrophe that might gas inflation and go away the nation and the world in a worse place than throughout the pandemic. The CEOs aren’t allies of the Democratic Celebration, however they do imagine within the stability of presidency and democracy. What Trump plans to do to the economic system is insane.
When different international locations do not pay tariffs, however the American folks do, when America’s Fortune 500 CEOs sound the alarm, it is time for even small authorities non-Democrat voters to take discover.
