No Fortune 500 CEOs will be supporting Donald Trump, according to Chief Executive Leadership Institute CEO Jeffrey Sonnenfeld, due to Trump’s economic plans.
Sonnenfeld said on CNBC:
We look back into the data and we’re looking at this now for the last four months, we’ve been pointing out that there are no Fortune 500 CEOs who are supporting former President Trump. And that is a historic break going back to to William Howard Taft and through Calvin Coolidge and Ronald Reagan and the, and the Bushes and everything.
Is that it’s been anywhere from 40 to 60 percent public and financial support. It’s zero now, and it was zero in 2016. And the Trump economic package frightens them. It’s extremely inflationary. The tariffs, 10 percent across the board, on all imports, that’s just crazy. It’ll lead to a 3 percent increase for sure in inflation and plunging the GDP.
And then he, and that’s before retaliatory gesture is the increase in the deficit. He wants to cut 5 trillion of taxes with no commensurate cut and expenditures. So these, these are problems.Â
When asked where these CEOs land in the election, Sonnenfeld said, “They’ll be reluctant Biden voters. They don’t want the fabric of society pulled apart.”
Video:
Chief Executive Leadership Institute CEO Jeffrey Sonnenfeld: There are no Fortune 500 CEOs who are supporting Trump. That is a historic break. The Trump economic package frightens them. It’s extremely inflationary. It’ll lead to an increase in inflation and plunge the GDP.⦠pic.twitter.com/eJUMyuQPg4
— Biden-Harris HQ (@BidenHQ) June 24, 2024
CEOs love government stability. As Rachel Maddow pointed out, CEOs are about the rule of law, not the law of rulers.
The Trump tariff plan will blow up the US and the global economy. It will be a disaster that will raise inflation and put the nation and the world in a worse place than it was during the pandemic. CEOs are not allies of the Democratic Party, but they do believe in government stability and democracy. What Trump is planning to do to the economy is crazy.
Other countries don’t pay for tariffs, the American people do, and when America’s Fortune 500 CEOs are sounding the alarm bells, it is time for even small government non-Democratic voters to pay attention.
