On July 30, 2020, A day after lawmakers grilled the biggest tech companies’ chief executives about their size and power, Amazon, Apple, Alphabet, and Facebook reported surprisingly healthy quarterly financial results, defying one of the worst economic downturns on record.
Last week, an article in Newsweek shared how Laurene Powell Jobs (Steve Job’s widow) allegedly donated $500,000 during the second quarter of 2020 to Biden’s campaign. None of this comes as a surprise, considering Apple produces most of its’ products in China. Why? Because it would cost more money through higher wages to build in the USA.
According to CNBC, among political donations from employees at the five top tech companies, 84% of the money has gone to Democrats, up from 68% in 2016. Joe Biden has received almost 12 times the amount from tech as has Donald Trump, and Democratic Senate candidates for competitive seats are also getting tech money.
With Biden promising to hike corporate taxes on day one along with new green energy regulations that include our cars, heating + cooling, and the proposed Environmental and Climate Justice Division, the United States will be even less attractive for corporations to set up shop in America for companies like Apple.
I am all about our environment with a balance of what is best for our country; I drive a Ford Hybrid, purchased an all-electric condo, buy American products when possible, and recycle.
Biden’s proposed approach will directly work against Trump’s efforts to bring jobs back to the USA; he recently announced he is setting up tax credits for U.S. companies that relocate manufacturing facilities to the United States from China. Trump’s administration would also strip federal contracts from companies that outsourced work to China.
So no surprise Big Tech companies support Biden; it helps their wallets… but not our country.