I m participating in a lot of conservations with people who have substantial means, and there are going to be new ways for people to get there information and to share information and to stay connected with each other, Schlapp said. He later defined most of these conversations as informal and that plans are still coming together.
One major player, Republican donor Roy Bailey, told CNBC that he is interested in potentially investing in a social media platform tailored for conservatives, to counter Facebook and Twitter. It is something I m interested in if it can be put together properly, said Bailey, a Texas businessman who was a key fundraiser for Trump s 2020 campaign. I ve identified a potential platform and there s a lot of work to do.
Tax cuts for the rich.
Thatâs all we hear from Democrats when Republicans try to lower taxes. Predictably, when former President Donald Trump signed major tax reform legislation that included a cap on state and local tax deductions from federal taxes in 2017, Democrats began sweating.
âTax the rich, tax the rich, tax the rich,â New York Governor Andrew Cuomo famously said. âWe did. Now, God forbid the rich leave.â
Sure enough, as day follows night, theyâre leaving.
Thatâs because Democrat-run states generally have the highest taxes, and the cap limited SALT (state and local tax) deductions at $10,000. That means the wealthiest residents of places like New York and California had to fork over a lot more in taxes to Uncle Sam. Some of them put their homes up for sale and fled to tax-free states like Florida and Texas.
Wealthy business leaders who have historically resisted moving at least some of their resources to Florida or other less-taxed states explained to CNBC that they are now seriously reconsidering as working from home becomes the norm, allowing more flexibility.
Tracy Maitland, president of investment advisory firm Advent Capital Management, said that while he still loves his home base, he s not ruling out departing. It s a consideration, Maitland told CNBC in an interview Wednesday. I love New York and I was born and raised in New York. I m going to do whatever I can to try to steady the ship. If I can t, then I m going to have to make a decision, he added.
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There is little sign that the corporate revolt following the deadly insurrection at the U.S. Capitol has done any real damage to Republican fundraising.