Democrats Cool On Wall Street Donors. The Feeling Is Mutual

Wealthy donors have long played a central role in Democratic presidential politics: filling campaign coffers, jockeying for influence, and dispensing often unwanted advice to candidates and their staffs. But that system may be in jeopardy. Well-heeled Democrats have plenty of reasons to oppose Warre...

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Bibliographic Details
Published in:Bloomberg businessweek (Online) 2019-11 (4636), p.36
Main Authors: Green, Joshua, Allison, Bill, Abelson, Max, Nguyen, Lananh, Gordon, Amanda L
Format: Magazinearticle
Language:English
Subjects:
Political campaigns
Political finance
Wealth tax
Online Access:Get full text
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Summary:Wealthy donors have long played a central role in Democratic presidential politics: filling campaign coffers, jockeying for influence, and dispensing often unwanted advice to candidates and their staffs. But that system may be in jeopardy. Well-heeled Democrats have plenty of reasons to oppose Warren and Sanders on policy, from their calls for tighter bank and business regulations to their proposed wealth taxes, including a 6% levy on billionaires Warren has put forward to fund her Medicare for All plan. There are advantages to eschewing wealthy donors besides building grassroots support. One veteran Democratic operative notes that managing big donors can be incredibly time-consuming for a campaign.
ISSN:0007-7135
2162-657X