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JD Vance Courts Billionaire Republican Donors on Eve of Vice Presidential Debate

2 October, 2024 - 1:35AM
JD Vance Courts Billionaire Republican Donors on Eve of Vice Presidential Debate
Credit: yimg.com

Ohio Senator JD Vance on Monday evening, a day before his much-awaited vice presidential debate with Tim Walz, made a direct pitch to individuals donating billions to the Republican Party.

In a private dining room at a French restaurant in New York City, Vance addressed some of the biggest donors of the Republican Party, The New York Times reported.

The Republican vice presidential candidate and Donald Trump’s running mate in the upcoming presidential elections, met with the members of the American Opportunity Alliance, according to The New York Times. Vance was interviewed by the head of the conservative think tank Manhattan Institute, Reihan Salam, during a private event.

The American Opportunity Alliance comprises a Wall Street crowd and some major donors to Vance’s party, many of whom, interestingly, are not yet backing Vance or former president Donald Trump. The group also includes famous hedge fund manager, Paul Singer, a known leader of the group. Vance received positive feedback from some members, while others aired their concerns about some of Vance’s position on the economy and foreign policy.

Vance also briefly mentioned the upcoming vice-presidential debate he is going to be participating in, which is also the reason for his presence in New York City. The Republican vice presidential candidate was asked, according to sources, if he would be able to handle his opponent Tim Walz with a straight face on Tuesday night.

In response, Vance pointed to Walz’s tendency to use dramatic gestures and said he would prefer to keep the focus of the debate on issues like borders and immigration, which Vance believes is the Achilles heel for the Democratic pair of Walz and Kamala Harris.

Vance was also joined during the meeting by Usha Vance, his wife, who he said he would credit if he did well during the debate. If the opposite happened, he said, it would be his responsibility alone.

Vance was also questioned about his plans to use his platform to appeal to the more moderate Republicans like Mitt Romney and Nikki Haley. In response, he said he was very interested in winning their support. Vance, on multiple occasions, acknowledged that some of his positions on issues were unpopular, The NYT reported.

Vance, for example, defended his position on Ukraine. His position on the ongoing conflict in Ukraine was more or less aligned with that of the interventionist leanings of the donor group.

Highlighting his recent appearance on podcasts like“Full Send” by the Nelk Boys, Vance admitted that Trump and him were working in tandem to attract young male voters.

Interestingly, Vance last spoke with the group in 2016 during his anti-Trump phase after the publication of his memoir, ‘Hillbilly Elegy’. Notably, after Vance's political stances changed in 2016, several members of the group decided to support Vance’s opponents.

Mr. Vance last spoke to the same audience during his time as an anti-Trump Republican in 2016, after the publication of his memoir, “Hillbilly Elegy.” But after Vance’s political posture changed, several members of the group supported his opponents during Vance’s 2022 run for the Senate..

The fact remains, however, that Vance as well as Trump could stand to benefit from the support of the group and its members in the final few weeks leading up to the November 5 election. The duo is also working on raising more funds after lagging behind Harris' fundraising.

Vance’s Tax Plans and Economic Agenda

Vance has made it clear that he and Trump will prioritize the ultra-wealthy if elected, promising to give handouts to the wealthy at the expense of the middle class. This echoes Trump’s first term economic policies, which resulted in billionaires paying lower taxes than the working class for the first time in American history.

“This is a fascinating proposal and we could talk for a while about it,” Vance said in response to Trump’s proposal to raise tariffs, which would increase costs for working Americans.

Trump has stated that he wants to center his economic plans on extending and deepening the Republican tax cuts from 2017, which primarily benefited large firms. He is even pushing for deeper cuts to both individual and corporate tax rates, building on his controversial 2017 tax law.

Vance echoed these sentiments, saying, “The left attacked Donald Trump for those tax cuts and said they would make the deficit worse … I think we have a pretty common sense regulatory and tax agenda.”

“You’re all people that have a lot of money … You’re rich as hell. … We’re gonna give you tax cuts,” Trump promised his supporters, indicating a clear intent to favor the wealthy over the average American worker.

Critics Condemn Vance and Trump’s Economic Policies

Many experts and critics have condemned Trump’s economic policies, highlighting their negative impacts on the working class. They argue that Trump’s policies have benefited billionaires and corporations at the expense of hardworking families.

The Economic Policy Institute stated that the TCJA (Tax Cuts and Jobs Act) “overwhelmingly benefited the rich and corporations while overlooking working families.” Vox also pointed out that the tax break, which Trump claimed was for small businesses, was actually giving $17 billion to millionaires.

The 2017 tax law, which Vance and Trump are seeking to expand, is considered controversial due to its disproportionate impact on different income groups. While it created new incentives for companies to ship jobs overseas, it also failed to provide substantial benefits to the working class.

Vance’s Approach to Moderates and Young Voters

Vance’s efforts to court billionaire donors may raise concerns about his commitment to representing the interests of all Americans. His approach to attracting young male voters, as seen through his appearances on podcasts like “Full Send,” also raises questions about his understanding of the diverse needs and concerns of the American electorate.

Vance's efforts to win the support of moderate Republicans like Mitt Romney and Nikki Haley, while seemingly a good strategy, are subject to scrutiny, as some of his positions on key issues may clash with their views. While he acknowledges that some of his stances are unpopular, his commitment to these positions remains unclear.

Vance’s campaign, like Trump’s, is focused on a specific demographic and a particular economic agenda. The lack of a broader appeal and a plan to address the needs of all Americans may prove to be a significant challenge for both candidates.

Conclusion: A Focus on Wealth and Power

JD Vance’s meeting with billionaire Republican donors underscores the importance of money and influence in American politics. It also exposes the potential consequences of a political system heavily reliant on wealthy donors, where the needs of ordinary citizens may be overlooked. The 2024 election presents a critical opportunity for voters to assess the candidates’ commitment to representing all Americans and to evaluate their economic plans and policies based on their impact on different income groups.

Ultimately, the focus on wealth and power rather than addressing the concerns of ordinary Americans, may be a defining factor in the upcoming election. It is crucial for voters to scrutinize the candidates’ pledges, their past records, and their potential impact on the lives of Americans across all income levels.

JD Vance Courts Billionaire Republican Donors on Eve of Vice Presidential Debate
Credit: storage.googleapis.com
JD Vance Courts Billionaire Republican Donors on Eve of Vice Presidential Debate
Credit: bwbx.io
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JD Vance Republican Party Donald Trump
Elena Kowalski
Elena Kowalski

Political Analyst

Analyzing political developments and policies worldwide.