President Donald Trump has been giving his word of honor for 4 more years of low taxes, flexible rules, and good attention on stocks. Still, the crowd on the streets of New York City is avoiding Trump and spending a shocking amount of funds and money to Biden. The stock companies and financing market have contributed just 10.5 million dollars to Trump rally expense or campaigns and also some overseas firms in accordance with them.
However, the same group donated almost 5 times extra cash of around 51 million dollars to the Democratic presidential applicant Joe Biden. It is clear that Donald Trump is losing financial support competition between the financial thumbs of NY by a much higher ratio than the 2016 presidential elections.
As compared to that time, previous members of the senate Hillary Clinton and parties in accordance with her inclined 88 million dollars from investors and business persons while Trump has only managed to gather 20.8 million USD. To some extent, the priority of New York’s investors and financial firms makes sense.
The securities and stockholders have donated almost 19 million dollars to Obama in 2008 which is approximately double the amount acquired by Senator McCain which was 10 million dollars.
A World Market of Standards and Poor’s Intelligence has calculated that Joe Biden plans and ideas to increase the business and companies’ tax can raise the profits in Ten largest banks to combine and reach 7 billion dollars annually.
The best occurrence for big banks is the defeat of Biden and the win of Trump because that would give GOP control of the US Senate and it would lighten the rules, regulations, and tax rates.
According to the world bank, a bad scenario would occur if a blue wave is applied which gives Democrats rights to handle both US Senate and White House making their own decisions about tax rates, rules, and regulations on banks.
KBW is so worried about this blue wave because it would cause a great disturbance for the market and big banks about the tax rates and corporate taxes. According to research from CNN business analysts, Biden has been winning the race of funds raising from Trump out of all big and significant banks of America by good ratios.