Business leaders are afraid to oppose policies destroying their businesses because they fear further political punishment.

The post CEOs under the Trump Administration Explode the Myth of ‘Plutocracy’ appeared first on New Ideal - Reason | Individualism | Capitalism.

 

"If you recognise that politics is full of liars but consistently fall for lies from your own 'team,' then you are the mark, the intended target of the long con being staged by those in power."

~ Justin Amash

Special elections in Florida and Wisconsin provided shots across the bow to the Trump Administration, at least according to the Wall Street Journal. The GOP retained two safe congressional seats in Florida, albeit with less-safe margins than normal, and lost the election for a Wisconsin Supreme Court seat.

Whatever one can glean from elections so early in a term, I think it is fair to say that if there really is a "MAGA backlash," it is nothing compared to what there will be if the worst-case scenario of Trump's "liberation day" tariffs -- 20% or more across the board -- comes to pass; and then either Trump refuses to back down or Congress fails to get him under control by finding the will to take back its authority over tariffs.

If that happens, that paper's warnings to the GOP will definitely apply:

Republicans can console themselves that they held the Florida seats and thus their narrow House majority. And we hope the results don't scare House Republicans into backing away from their tax and regulatory reform agenda. That's what Democrats would love, so next year they'd get the benefit both ways -- motivated Democrats and sullen Republicans after a GOP governing failure.

But the elections are a warning to Mr. Trump to focus on what got him re-elected -- especially prices and growth in real incomes after inflation. His willy-nilly tariff agenda undermining stock prices and consumer and business confidence isn't helping. [bold added]

The piece goes on to note the worst consequences of the Democrat victory in Wisconsin:

As for Wisconsin, Republicans in that state will now have to live with a willful Supreme Court majority that could reverse nearly everything the GOP accomplished under former Gov. Scott Walker. School vouchers, collective-bargaining reform for public workers, tort reform and more are likely to be challenged in lawsuits by the left. Congressional district electoral maps will also be challenged and could cost the GOP two House seats. [bold added]

Given that the only indications of congressional action on tariffs so far has been either merely symbolic or the exact opposite of what is needed, I expect a bloodbath in the midterms.

The cowards in the GOP would do well to start fearing their constituents more than the President.

-- CAV