- Trump’s presidency has been a boon for U.S. tech giants.
- But Silicon Valley is backing disruptive Democrats by an too much to handle margin.
- The president’s “MAGA club” is lining up behind Bernie Sanders – not Donald Trump.
President Donald Trump has unofficially licensed his MAGA slogan to Silicon Valley’s four most prestigious corporations: Amazon, Apple, Google, and Microsoft.
Speaking to the media this 7 days, Trump hailed the four corporations – each of which is worthy of extra than $1 trillion – as evidence of his presidency’s good results.
For 144 days, we established a file stock current market. It suggests 401Ks, it suggests careers. Four trillion greenback corporations: Apple, Amazon, Google, Microsoft. You have MAGA. The trillion greenback club.
But if campaign donations at these corporations are anything at all to go by, insiders at the four tech giants wouldn’t be caught lifeless chanting the MAGA slogan or sporting the popular purple hat.
Apple Insiders Are Thanking Trump by Backing Bernie
This irrespective of Apple and its stock benefitting enormously from the Trump presidency.
The Tax Cuts and Task Act of 2017 lessened Apple’s tax amount by nearly 10%. This enabled the Iphone maker to return billions of pounds to shareholders by using dividends and stock buybacks.
Since the tax cuts, Apple’s stock price tag has extra than doubled.
Amazon and Google have benefitted from Trump’s protectionist tendencies far too.
Most not too long ago, Trump attacked European options to impose a digital products and services tax on U.S. tech corporations and threatened to go after retaliatory tariffs. France, the primary supporter of the tax evaluate, bowed to the pressure – albeit briefly – thanks to Trump.
Massive Tech Enjoys Trump’s Procedures – But They Hate Trump
It’s no mystery that Silicon Valley leans left politically, but the latest craze defies logic.
As of February 3rd, Massive Tech insiders experienced donated overwhelmingly to candidates who have threatened to disrupt U.S. tech leviathans. All the even though supplying peanuts to the prospect most possible to maintain the position quo.
At Microsoft, insiders have donated $166,399 to Bernie Sanders, $145,714 to Pete Buttigieg, and $103,705 to Elizabeth Warren. They have contributed just $19,163 to the Trump campaign.
From Apple, Bernie Sanders received $145,600, Warren $100,296, and Buttigieg $88,652. Trump brought in a paltry $2,654.
A very similar craze was replicated at Amazon, where by Sanders acquired $213,945, Warren $102,225, and Buttigieg $98,288. Trump received $11,147.
And from Alphabet, Trump acquired $7,793 versus Warren’s $304,318, Sanders’ $297,705, and Buttigieg’s $242,249.
Joe Biden, extended the presumptive Democratic frontrunner, also underperformed his progressive rivals by a wide margin.
Bernie and Warren Have not Been Shy About Breaking up Massive Tech
In this election cycle, the socialist-leaning Democratic presidential candidates have not missed an opportunity to bash tech giants. Bernie Sanders and Elizabeth Warren have both equally expressly stated that they will split up Silicon Valley’s most significant corporations if they get the presidency.
In December, Sanders stated in reaction to a query from Vox:
When in the White Property, I will reinvigorate the FTC (Federal Trade Commission) and appoint an Legal professional General who will aggressively investigate and split up these tech giants and other conglomerates that have monopolized nearly each sector of our economic climate.
Sanders is also on file criticizing Google for remaining “too big” and “too powerful.”
This was Warren’s reaction to the very same Vox query:
To make our authorities and our economic climate work, we have to have to prevent large tech corporations from throwing all-around their political ability to form the regulations in their favor and throwing all-around their financial ability to snuff out or get up each opportunity competitor. That suggests breaking up Massive Tech.
Though not expressly contacting for the dismantling of powerful Silicon Valley giants, Pete Buttigieg responded that “breaking up tech corporations really should be an choice.”
Protest vote or not, how insiders at the “MAGA club” corporations are donating to political strategies in the 2020 election cycle would seem a little bit baffling.
Disclaimer: The opinions expressed in this article do not essentially replicate the views of CCN.com.
This article was edited by Josiah Wilmoth.
Very last modified: February 16, 2020 7:15 PM UTC