Are Republicans and Business on the Rocks?tags: Republican Party, business
In recent days, some stalwart allies of the Republican Party -- Wall Street bankers along with several business lobbying groups -- have warned against the government shutdown. Rather than endorse House Republicans’ campaign to destroy the Affordable Care Act, business and financial leaders have politely suggested that the more radical elements Republicans are getting a bit carried away.
On Sept. 30, the Chamber of Commerce released a letter counseling the House of Representatives -- read: Tea Party Republicans -- to cease and desist. It was signed by more than 250 business groups, including the National Association of Manufacturers and the Business Roundtable. Wall Street titans such as JPMorgan Chase & Co. Chairman Jamie Dimon, Goldman Sachs Group Inc. Chairman Lloyd Blankfein and others have made similar pleas in person.
This rift between business and the Republican Party is unprecedented. For much of the past century, important business interests have pushed Republicans to combat the “creeping socialism” inaugurated by the reforms and regulations of the New Deal. Over the years, the alliance successfully eroded the power of unions, and rolled back burdensome regulations and progressive taxation....
comments powered by Disqus
- New documentary explores the legacy of the 5,000 Rosenwald schools set up by a Sears magnate and Booker T. Washington
- Rare silent Native American movie of 1920s attracting a lot of interest
- It happened in Idaho and was the largest massacre of Indians in US history, but where exactly did it take place?
- Junípero Serra’s Missions Destroyed Entire Native Cultures. And Now He’s Going to Be a Saint.
- Isis destruction of Palmyra's Temple of Bel revealed in satellite images
- Two scholars from UT object to the Texas school's decision to remove the statue of Jefferson Davis
- A history professor explains why Americans are so prone to conspiracy theories
- Now Greg Grandin has come out with a study of Henry Kissinger
- Japanese historian upends the familiar narrative of WW 2 by taking a bottom up approach, focusing on fascism from the grassroots
- Holocaust-denying historian David Irving organises 'disgusting' £2,000-a-head holiday tours of former concentration camps and Hitler's HQ so people can 'make up their own mind about the truth'