As The New Presidential Nominee, VP Harris Can Secure The Support Of The Majority Of Americans By Pursuing A Corporate Crackdown
Out of the many chaotic political developments of the last several months, the most meaningful has been the emergence of Vice President Kamala Harris as the new presidential nominee. Although much has changed, one thing has remained constant: an enthusiastic crackdown on corporate wrongdoing and picking public fights with white-collar villains remains both the most effective political response to our current populist moment, as well as the most ethical course of action to take in the face of soaring corporate profits and a widening wealth gap. In this blog, we update our previous round-up of polling data with new polls that demonstrate why VP Harris should take on a corporate crackdown.
Strong Antitrust Enforcement To Fight Inflation
Inflation is a key concern of voters, and there is strong support for the use of antitrust enforcement in order to fight it. A June 26, 2024 BluePrint poll found that…
- 51% of voters believe that “using antitrust to enforce laws against price gouging and price fixing” would decrease inflation.
- Only 9% believe that it would increase inflation, while 40% believe that it would have no impact.
- 50% of voters believe that “banning companies from charging hidden or misleading “junk fees” for products and services would decrease inflation.
- Only 35% believe that it would have no impact, and 14% believe that it would increase inflation.
- When BluePrint asked voters what policies the government should take to reduce inflation, the policy that had the most support was “prosecuting companies for price gouging and price fixing,” with 39% of respondents agreeing
- 38% wanted to reduce government spending and 35% wanted to lower interest rates.
- 63% of voters said they supported “starting a congressional committee to hold hearings on and investigate price gouging and overcharging by corporations”.
- “Prosecuting price gougers” similarly had high levels of support, with the course of action being approved by 61% of voters.
Blueprint is a polling company funded by LinkedIn billionaire Reid Hoffman. Hoffman has recently made headlines for publicly urging VP Harris to fire FTC Chair Lina Khan. In other words, these numbers are a statement against Hoffman’s own interest, and they should therefore be taken seriously. The reality is clear: voters know that the wealthy are the real culprits behind our rising prices, and they want a government that will take effective action to penalize them.
Devoted Civil Servants — Not Corporate Executives, Billionaires, Or Huge Bankers
It is abundantly clear that American voters do not want corporate executives, billionaires, and huge bankers making decisions in Washington. According to a December 2020 Demand Progress poll…
- 56% of respondents said that Wall Street Executives had too much influence over government policy.
- 21%: “just right”, 6%: “too little” and 17%: “not sure”
- 54% said that executives of large tech companies have too much influence over government policy
- Only 24% “just right”, 7: “too little”, and 14%: “not sure”.
- 62% said that billionaires have too much influence over government policy
- 19% “just right”, 6% “too little”, and 12%: “not sure”
- 59% said corporate lobbyists have too much influence of government policy
- 18%: “just right”, 8%: “too little”, and 15%: “not sure”
- 56% said the big banks have too much influence over government policy
- 23%: “just right”, 7%: “too little”, and 13%: “not sure”
- 53% said that executives of oil and gas companies have too much influence over government policy
- 23%: “just right”, 9%: “too little”, and 15%: “not sure”.
Asserting A Clear Antagonism Between The Public And Private Sector
Vice President Harris would perform well with voters by drawing a clear antagonism against the corporate sector. According to the December 2020 Demand Progress poll…
- 67% of respondents agree that executives and lobbyists from big corporations “have too much political influence and the revolving door between the private and public sector is corrupt and dangerous.”
- 56% of Americans in 2020 thought that a potential Biden Administration “should not hire corporate lobbyists and executives.”
- 76% of voters said that it would be a problem if “an administration official had received a bailout for the industry they would be overseeing”.
- 75% of respondents said that “an administration official overseeing an industry that they plan to be an executive in after leaving government” is a problem.
- 73% said that “an oil executive overseeing environmental regulations” is a problem.
One effective way to draw this antagonism is to staff the Department of Justice with politicians devoted to fighting white collar crime.
- 48% of voters said they would be more likely to vote for Biden in 2020 if he made “a commitment to staff the Department of Justice with individuals committed to cracking down on white collar crimes such as insider trading, corporate fraud, and price fixing”
- Only 14% of respondents said this would make them less likely to vote for him, and 38% said they would have “about the same” likelihood of voting for him.
Another effective way to draw this antagonism is to implement strict policies against the revolving door. These policies, taken from Senator Warren’s ethics plan, have the support of a majority of voters.
- 68% of voters would support new rules which “prohibit current lobbyists from taking government jobs for 2 years after lobbying.”
- 65% would support this period being 6 years.
- 67% support a policy that would “prohibit companies from immediately hiring or paying any senior government official from an agency, department or Congressional office which that company had recently lobbied.”
- 65% of voters would support “blocking federal contractor and licensee employees from working at the agency awarding the contract or license for 4 years. “
- 64% would support a rule that would “ban corporations from giving bonuses to employees or executives who leave government to go work in the private sector.”
- 62% support “a lifetime ban on lobbying from former Presidents, Vice Presidents, members of Congress, federal judges, and Cabinet Secretaries.”
- 63% of voters said they would support prohibiting “the world’s largest companies, banks, and monopolies from hiring or paying any former senior government officials.”
- 61% would support requiring “income disclosures from former senior officials 4 years after leaving federal employment.”
For all of the policies just listed, the highest percentage of voters who said they would oppose a rule is only 23%.
By committing to stacking her cabinet with proven public servants, and not corporate careerists looking to leverage the public office for increased earnings down the line, VP Harris would be running a campaign that has the support of the American majority. As we get closer to November, VP Harris should recognize that one of the best ways to win the presidency is to make bold and progressive policy proposals whose benefit to the social good is also reflected in their popularity. Taking on corporate criminals and going after large corporations for their misdeeds is not only the morally right thing to do, it is also good politics.