One Statistic Suggests Kamala Harris Is the Billionaires’ Candidate

Kamala Harris has mostly continued President Biden’s attacks on billionaires, but surprisingly, the vast majority of them are in her corner. (Forbes)

A new Forbes analysis: So far 81 billionaires have lined up behind Harris, while 50 are supporting Donald Trump.

• Last month, a dozen billionaires signed a letter endorsing Harris.

• A survey of millionaire investors found a 57% to 43% split in favor of Harris.

• 28 billionaires have donated over $1 million to support the vice president, compared to 26 for Trump.

Context: Harris has repeatedly gone after billionaires and corporations this election cycle, campaigning on a “billionaire minimum tax” and accusing the ultra-rich of not paying their “fair share” of taxes.

• But some left-wing skeptics of corporate power say they’re worried Harris’ anti-billionaire stance is largely a front.

• The vice president has quietly cozied up to big business, and in September walked back some of her more aggressive “tax the rich” plans to appease wealthy donors.

• Harris is facing pressure from billionaire backers such as Mark Cuban to oust Lina Khan, the FTC chair notorious for cracking down on corporate power.

The vibes: Just 29% of Americans view large corporations positively, with a major decline (from 54% to 32%) among Republicans since 2019.

Bubba’s Two Cents

Why are the majority of billionaires supporting Harris despite her criticisms of the uber-rich? It could be they’re reading between the lines of Harris’ rhetoric and figuring that the “tax the rich” stuff is mostly lip service meant to appeal to left-wingers in the coalition. Another explanation: liberal billionaires might genuinely think they should be taxed at higher rates.

Both campaigns are jumping on the anti-corporate wave in America, claiming they’ll fight for the little guy, but Harris and Trump are still pretty tied up with big corporations (it’s hard not to be in our politics). It's something to keep in mind.