Wall Street Warns About Sleepy Joe Winning
With the mainstream media campaign claiming that Biden is ahead in the polls, Wall Street is getting worried about the prospect of him winning in the elections in November. Several firms in Wall Street have now started warning their clients that the stock market is sure to take a hit should Biden become president.
The mainstream media is starting to claim that Biden is ahead of polls. They are saying that he is ahead in critical states like Michigan and Wisconsin and those claims are now starting to scare investors and businessmen. The main fear that they have is there will be higher corporate taxes under Biden. The former vice president made a promise last year that he will backtrack on the legislation which cut corporate taxes. The signature legislation of Trump gave a huge boost to American businesses.
While many businessmen may not express support for Trump in public, many of them support his presidency. Finance executives are saying now that if the Democrats win the next election and they retake the House of Representatives and the Senate on top of retaking the presidency, it would mean policy changes that would be bad for corporate America.
Trump’s presidency has been good for the economy as he has boosted the profits of American businesses and that has helped create jobs. Unfortunately, the pandemic has created substantial losses for the economy but once everything goes back to normal, then the economy will be on track to make a full recovery.
However, a Biden presidency threatens to undo all of the major gains won by the economy. Higher corporate taxes would mean it will be harder to do business. It would also mean fewer jobs as it would scare investors from putting their money in America. Few corporate executives are willing to come out and say that they prefer Trump to win in November to continue his policies that help corporate America but most of them do. They are afraid of being branded by the leftist mob of being racist or rightwing white supremacists and getting their businesses blacklisted. That is what the leftists do to anyone who disagrees with them.