Throughout American history, business leaders could assume that an American president of either party would uphold the rule of law, defend property rights, and respect the independence of the courts. Implicit in this assumption is a fundamental belief that no matter who wins, the spirit of this country means that businesses and the U.S. economy will prosper. They were able to distance themselves from the rough-and-tumble politics of the campaign. No matter who won, they could pursue long-term plans and investments with confidence in America’s political stability.
America’s business leaders cannot afford to remain passive and silent in this election.
Donald Trump and his Democratic opponent, Vice President Kamala Harris, have outlined their party’s traditional positions on issues such as taxation, trade and regulation that fall within the realm of political give-and-take. But stability itself is at stake in this election.
Mr. Trump has denied the legitimacy of the election, defied constitutional limits on presidential power and boasted plans to punish his opponents. And in these attacks on American democracy, he is also attacking the foundations of American prosperity. Voting on narrow policy concerns would reflect a devastatingly short-sighted view of American corporate interests.
Prominent corporate leaders include Tesla founder Elon Musk. Investors David Sachs and Bill Ackman. and investor Stephen Schwartzman, who supports Trump’s candidacy. It’s almost impossible to understand why, beyond pure irony.
Of course, business leaders may be skeptical of Harris’ policies, worried that she doesn’t know enough about how she will govern, or worried that Harris will listen to their concerns. This is a frequent criticism of the Biden administration. . They may be reluctant to offend or alienate employees, customers, or suppliers with different political views. Most of all, they may fear angering Mr. Trump, who has a long track record of using the levers of power to reward loyalty.
They should be more afraid of the consequences if he wins.
This week, Donald Trump provided a stark reminder that this election is different. In a statement that should alarm any American committed to preserving the democratic experiment, Republican candidates have once again refused to commit to accepting the results of the 2024 election. This follows remarks in which he declared that he views political opponents as “enemies from within” and would consider using the military against political opponents simply because they oppose his candidacy for president. The implication is that participating in the democratic process is treason, and the threat suggests that Trump intends to use government power in new and dangerous ways if elected to a second term. This newly shows that
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