President Donald Trump highlighted the strong support he received from American workers and the middle class in the 2020 presidential election. In contrast, he noted that his Democratic opponent Joe Biden was backed by the big Wall Street financial corporations.
“Our donors were police officers, farmers, everyday citizens,” President Trump said at a Nov. 5 press conference.
“At the national level, our opponents’ major donors were Wall Street bankers and special interests,” he said.
— Team Trump (Text VOTE to 88022) (@TeamTrump) November 5, 2020
Under Trump’s presidency, the popular sectors and the middle class benefited, among other measures, by Trump’s economic policies that led the United States to experience the lowest unemployment rate in the last half century, positively affecting the African American and Latino minorities.
Examples of some of these policies are the modification of H-1B visa programs to prevent companies from hiring cheap foreign labor, tariffs imposed on the Chinese Communist Party (CCP) to discourage imports that compete unfairly with U.S. industry, and the tax break incentives for companies to return to manufacturing in the United States.
Instead, in his 47-year career, Biden has managed to expand China’s anti-market policies, mass immigration, and the outbreak of wars abroad.
According to a Bloomberg News analysis, donations to former Vice President Joe Biden’s campaign came from the upper-middle and upper class.
He also received strong support from Big Tech that contributed 95 percent of his election donations.
Who pumped million into Biden campaign
According to WIRED magazine, Alphabet, Amazon, Apple, Facebook, Microsoft, and Oracle contributed over $4.78 million to Biden and $239,527 to Trump from early 2019, clearly showing the strong leftist trend of Silicon Valley companies.
In fact, social networks like Facebook are accused of exercising strong censorship against pages run by conservative individuals and organizations.
To exercise censorship, they apply their own parameters and algorithms, which tend to block the freedom of expression of users, including President Trump himself.
These recurring irregularities have forced President Trump and Republicans to clarify existing legislation to limit the interference of Big Tech in the rights of Americans.
So it is not surprising that Biden’s fundraising has been aided by Silicon Valley leaders such as LinkedIn co-founder Reid Hoffman and venture capitalist Ron Conway.
Biden also received donations from employees of large banks such as Wells Fargo, corporations such as AT&T, and universities such as Columbia University.
Among the donors who gave less than $200 to Biden’s campaign were lawyers, university professors, doctors, engineers, and scientists.
Who supported for President Trump
In contrast, President Trump gained the support of working- and middle-class people in the United States, including members of the NYPD, the Marines, and the Army.
According to the data collected, President Trump’s biggest donors who gave less than $200 to his campaign were people with disabilities, drivers, laborers, machinists, farmers, and plumbers.
A CNBC report noted that more than 30 executives with ties to Wall Street contributed to Biden’s campaign.
Moreover, according to a CNN analysis, “all the big banks” supported Biden, as Wall Street donors invested $74 million in his campaign, a stark contrast to the $18 million President Trump received from executives and employees of the global financial center.
It should be noted that the Trump administration has severely punished corruption in large financial corporations.
For example, the Justice Department sued Goldman Sachs in October for bribing foreign officials in Malaysia. The bank agreed to pay a $2.9 billion fine for the charges.
During the last debate, President Trump accused Biden of taking all of Wall Street’s money by publicly profiling himself as an incorruptible president who defends the interests of the people regardless of big corporate money.
“You are the one who takes all the money from Wall Street. I don’t take it,” the president said.
“”You have raised a lot of money, tremendous amounts of money, and every time you raise money, deals are made, Joe. I could raise so much more money as president and as somebody who knows most of those people, I could call the heads of Wall Street, the heads of every company in America, I would blow away every record (…) But I don’t want to do that because it puts me in a bad position.”