New Study Shows Rich CEO’s Are Buying the Republican Party

Last updated on April 3rd, 2019 at 06:38 pm

Make no mistake, rich people love the GOP — and their tax cuts.

According to a new study reported by Axios this morning, super-rich CEO’s of big corporations have been flooding the Republican Party with contributions.

They want to keep their tax breaks coming, even as the United States faces record budget deficits, and possible cuts in Social Security, Medicare and other social programs.

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According to the Axios report, CEO’s are donating to Republicans by an overwhelming margin. It says that it is the ”first of its kind study tracking the political leanings of CEOs by examining political contributions by more than 3,800 CEOs of S&P 1500 companies.”

What this study reveals is that Republicans are on the receiving end of more than twice the support from the corporate executives who are trying to influence government policy. And they have been successful, as the GOP has continually passed legislation that “puts profits before people.”

According to the new article:

“The study, by professors from Harvard Law School and Tel-Aviv University, classifies a CEO as a Republican or a Democrat if they gave at least two-thirds of their campaign contributions to one party or the other. CEOs that distributed their contributions more evenly between the two major parties were classified as neutral.”  

“Among big energy companies, CEOs’ Republican leanings are even stronger: more than 9 in 10 energy CEOs side with Republicans and none with Democrats.”

How CEO’s Control Political Contributions of Employees and Corporations

The report goes on to point out that a CEO can influence many other employees under them as well as the company itself to contribute as they do.

It then concludes:

“CEOs are responsible for maximizing shareholder value, and ‘some might argue that support for Republicans is consistent with shareholder interests because share value would benefit from the low-tax and deregulatory policies promoted by Republicans,’ according to the study.”

Rich People Have Bought the Government Policies They Want From the GOP

This study provides empirical evidence that proves something we have known for a long time: that rich people have bought the Republican Party. And of course, this also means that rich people control U.S. government tax, regulatory and environmental policies when the GOP is in charge of the government.

If we want to restore democracy in America, and prevent the movement toward an oligarchy that benefits only rich people, we must put Democrats back in power very soon — and next year’s election is a good place to start.

Leo Vidal

I am a lifelong Democrat with a passion for social justice and progressive issues. I have degrees in writing, economics and law from the University of Iowa.