My colleague inferred that while Republicans are attacking “awakened” businesses, protecting tax rates is in line with their policy of supporting shareholders.
The problem is that, depending on how the company “wakes up”, it’s okay to hurt shareholders when the party wants.
“Champagne for my real friends, real pain for my fake friends” is the real principle here. The rest is just that the Republicans understand themselves.
In a column earlier this week Colleague Josh Barrow I tried to understand the meaning from nonsense. He sought to explain how Republicans attacked businesses to “wake up” while acting as their champions by opposition to corporate tax hikes.
He reasoned that while Republicans supported measures to protect shareholders, they could attack certain people (managers or workers) in the enterprise to oppose the restrictive voting laws that Republicans support.
But this is inconsistent with what Republicans are actually doing. No one in the Republican Party is thinking about shareholders when it revokes the $ 35 million state tax deduction for Atlanta-based Delta Air Lines after a Georgia House vote opposes Georgia’s new restrictive voter law. did. And in a recent Fox Business screed, Florida Republican Senator Rick Scott threatened to “wake up” the company on “Calculation Day” to give shareholders peace of mind.
“There will be a huge backlash,” Scott wrote. “You will ruin the day it hits you. That day is November 8, 2022. It’s the day Republicans regain the Senate and the House of Representatives. It’s going to be the day of math.”
Law and order, but only if I make the law and give orders
It’s not clear what Scott threatens to do, but it’s clear that he thinks businesses will be punished when the Republicans have a majority of power. It is also clear that he does not distinguish between management and shareholders.
Will this upcoming Republican majority investigate these awakened companies? Do you tax them or regulate them based on their awakening? These companies aren’t punishable because they haven’t broken the law by expressing their position on the basic issues of our democracy, but Scott says the Republicans will do so anyway. He explains how businesses are treated in the Republic of Banana.
Contrary to the work of my colleagues, these threats may be directed at managers and executives, but the level of uncertainty they pose is never to shareholders. None of this reflects Republican principles such as the rule of law, freedom of speech, and respect for “small government.”
What’s more, it may be shareholders who are seeking more disclosure about a company’s political spending, especially since January 6. Shareholders want to know that what companies say about democracy is backed by political contributions. Corporate board to field resolutions and questions about this surrogate season.
“Companies are reading the text on the wall,” Thomas DiNapoli, accounting auditor and trustee of the New York State Public Pension Fund, told the New York Times DealBook. “Political and social polarization is bad for their business, and they need to decide whether political contributions are worth the risk.”
It’s becoming more and more confusing now when Republicans try to use the principles that once stood to explain what they were doing in businesses. That’s because the party itself is confused.
We see post-Trump Republicans negotiating what they do and what they don’t believe in real time. The Republicans haven’t let go of being a big business party yet, but they also fully embraced populist theater and dissatisfied politics to please the base. The problem is that these two things aren’t working well and trying to understand the contradiction is like chasing a pig with LSD.
Limitations of shareholder superiority
This rift between Republicans and large corporations also “Shareholder advantage” -The theory that companies should prioritize the desires of shareholders is that they are “owners” and other stakeholders (workers, customers, communities, etc.) are less important.
This theory of how businesses should work came to the fore in the 1970s, but before that, American businesses and scholars who studied them should consider what to consider when making decisions. He had a more comprehensive view of. Known as the “administrator’s view” of corporate governance, it has slowly returned to several C suites across the country over the last few years.
Looking at a company’s commitment to climate change, we can see how it has taken hold. The increased risk of uninhabitable planets is the moment when executive leaders feel their community is at stake. Their customers and workers are angry and want to see their actions.As a result, large asset management companies such as BlackRock have become companies. Net Zero Carbon For example, emissions. For them, the threat to democracy is a similar existential threat to their communities, workers, and profits.
In an interview with PoliticoJeffrey Sonnenfeld, Dean of the Yale School of Management, explained why Republicans and businesses are becoming more and more loggerhead turtles. He helped coordinate calls with about 100 business executives earlier this month, discussing opposition to the emergence of Republican restricted voter legislation in states across the country, and taking action against them. I agreed.
Sonnenfeld explained that more important to businesses than taxes is a peaceful and united country. Dividing Americans using wedge issues, formerly part of the Republican fringe, is now mainstream. Now, Republicans’ move to split the country in two is vying for the corporate class they once defended.
“they [CEOs] You don’t need an angry community. They don’t want a painstaking, finger-pointing workforce. They don’t want hostile customers. They don’t want shareholders to get confused or angry, “Sonnenfeld said.and it is Million times It’s more important to them than how many dollars of tax are paid here and there. “
Republicans trade Immigrants.. And when you ask the CEO, you’ll say that, as the Republicans once said, they oppose protection trade and support immigration reform. Because these policies are best for shareholders. After all, it’s not just the tax system that affects a company’s bottom line.
What this leaves us with is an increasingly ideologically inconsistent and unreliable Republican Party.And that leaves us the United States of America, a company that has been forced to move further away from the Republicans to protect its interests. Because Of its contradiction and lack of credibility. If it sounds confusing to you, then it is.
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