Connect with us

Economics

Will Donald Trump’s bros turn out?

Published

on

Home to a university, Madison is a left-leaning city in a swing state. But if you happened to find yourself at the Kollege Klub on a recent Saturday night, where Sean Paul’s “Get Busy” instructed patrons to shake that thing, you would not know it. A man lobbed MAGA hats into a crowd of rapt frat bros. Presiding were the Nelk Boys, a group of supremely popular YouTubers who film inane pranks. They are fans of Donald Trump and have had him on their podcast three times. This was a party to gin up the vote. Yet voting felt like a concept of a plan compared with downing vodka Red Bulls and shimmying to Swedish House Mafia.

To increase his vote, Mr Trump has two options. He can moderate his message to win over traditional Republicans, the sort of voters who supported Nikki Haley in the Republican primary. He is not doing that—witness the denigration of Puerto Ricans at his rally at Madison Square Garden. Rather it is Kamala Harris who has tacked to the centre and campaigned with former Republican congresswoman Liz Cheney, a stalwart conservative.

Instead Mr Trump is courting people who don’t reliably vote, but who will vote for him if they can be persuaded to vote at all: he is wooing the bro. He has called the Nelk Boys “the hottest guys around”. He has skipped debates with Ms Harris but made time for podcast chats with Logan Paul, a wrestler; Theo Von, a mulleted comedian; and, last week, Joe Rogan, the gorilla of the genre with 15m listeners. The centre of gravity in this macho galaxy is the United Fighting Championship, a mixed-martial-arts outfit that counts Mr Trump a fan. Its boss, Dana White, speaks (or shouts) at MAGA rallies.

Mr Trump has also appeared alongside rappers and reggaeton singers with names like Icewear Vezzo, Sleepy Hallow and Anuel AA. None has the star wattage of Beyoncé or Bad Bunny, who is Puerto Rican and endorsed Ms Harris after the Garden rally. But they have devoted followings and create a permission structure for black and Latino fans to make an against-the-grain choice. Mr Trump’s forays here can sometimes feel discordant. At a rally in Las Vegas he introduced Nicky Jam, a reggaeton star, like this: “Do you know Nicky? She’s hot!” Nicky is a “he”, who then told the crowd “Necesitamos a Trump!”

Bros like Mr Trump’s schtick. They rate him better on the economy and find him funny: less villain, more anti-hero, says John Della Volpe of the Harvard Kennedy School. An 18-year-old today would have been nine when he announced his first candidacy; there is little memory of or nostalgia for prelapsarian politics. Brandon Maly, the 24-year-old chair of the Republican Party in Dane county, which encompasses Madison, says his cohort feels alienated by social movements. “Hypocrisies like ‘queers for Palestine’? That doesn’t resonate so much with the guys.”

Chart: The Economist

In 2020 Mr Trump won 41% of men aged between 18 and 29 (compared with 32% of women). This year his vote share could rise by several percentage points. Just over 12m men in that age cohort participated last time, so even a small improvement could deliver Mr Trump hundreds of thousands of votes. He is also doing better with black and Hispanic men. Yet overall, this strategy is risky. Offsetting losses among college-educated suburbanites who reliably vote requires gains among people who do so inconsistently and at lower rates. Only half of eligible young men voted in 2020.

The challenge is convincing people with less trust or interest in politics—those who are least likely to consider voting impactful—that it is worth the energy. In Mr Della Volpe’s surveys, 55% of young men who support Ms Harris say they will “definitely” vote compared with 38% of their pro-Trump counterparts. Young women, meanwhile, skew heavily Democratic and are trending more that way.

Mr Trump managed this feat in 2016 by appealing to another disengaged group: white working-class men. Then, too, his ground game was thin. This year in Wisconsin he has outsourced the job of door-knocking and phone-banking to groups run by Elon Musk and Charlie Kirk, a millennial activist. This effort appears disorganised. Ben Wikler, the Democratic state chair, claims his party is “running circles” around Republicans when it comes to get-out-the-vote operations.

Less informed voters care most about the cost of living and tend to pick candidates whom they think they know and relate to. A recent study in the American Political Science Review found that viewers of “The Apprentice” were more likely to choose Mr Trump in the primary in 2016. Entertaining, seemingly apolitical media present a “unique route into the public consciousness”, the authors concluded. That applies equally to Mr Trump’s podcasting and TikToking (where he has twice as many followers as Ms Harris).

Many Americans revile Mr Trump. Yet plenty share the view of the frat brother in Madison who told your correspondent that America, “in its simplest form, is a business” and that Mr Trump is the boss.

Economics

Matt Gaetz vs the ethics committee

Published

on

On December 23rd a congressional committee released a lurid 37-page report alleging ethical misconduct by Matt Gaetz, the former maverick member of the House of Representatives who briefly stood as Donald Trump’s nominee for attorney-general. In a different time the investigation’s details about illicit sex and drug use would definitively end Mr Gaetz’s political career, and perhaps it will now. Yet he could soon test how far deviance has been defined down in America’s norm-smashing political era.

Continue Reading

Economics

At the state level, democracy in America is fracturing

Published

on

The residents of Bristol, Tennessee and Bristol, Virginia share a border, a downtown and even a Nascar speedway. But thanks to the quirks of American federalism, the 27,800 Bristolians who live in the Volunteer State reside in America’s least democratic state, while their 16,800 neighbors to the north live in one of the most democratic.

Continue Reading

Economics

BOI Reporting and the impact of the recent Federal Injunction

Published

on

The Corporate Transparency Act (CTA) is a legislative measure designed to enhance financial transparency

The Corporate Transparency Act (CTA) is a legislative measure designed to enhance financial transparency and mitigate risks such as money laundering, terrorist financing, and other illicit financial activities. The CTA aims to close loopholes and create a fairer business environment by requiring certain entities to disclose their beneficial ownership information. However, recent legal developments have temporarily impacted compliance requirements, bringing attention to the act’s ongoing litigation and implementation.

Federal Court Decision and Its Implications

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al. (No. 4:24-cv-00478). This injunction temporarily halts the enforcement of the CTA, specifically its beneficial ownership reporting requirements. Additionally, the court order stays all deadlines for compliance.

As a result, reporting companies are currently not obligated to submit beneficial ownership information (BOI) reports to the Financial Crimes Enforcement Network (FinCEN). During the injunction, these entities are also shielded from liability for non-compliance with CTA mandates.

Despite this pause, FinCEN has clarified that companies may still voluntarily submit their BOI reports. This voluntary reporting option remains available for businesses that wish to align with the CTA’s transparency goals.

Overview of the Corporate Transparency Act

The CTA mandates that certain entities provide information about their beneficial owners—individuals who own or control a business. The act is intended to increase transparency, enhance national security, and reduce the anonymity that can facilitate financial crimes.

While the CTA has garnered support for its objectives, it has also faced legal challenges questioning its constitutionality. Courts in different jurisdictions have issued varying rulings, with some upholding the law and others granting temporary injunctions. For example, district courts in Virginia and Oregon have ruled in favor of the Department of the Treasury, asserting the CTA’s alignment with constitutional principles.

Compliance During the Injunction

Currently, the federal injunction exempts businesses from mandatory BOI filing requirements nationwide. This temporary halt will remain in place until further developments, such as a decision by an appellate court or a reversal of the injunction.

In response to the ruling, the Department of Justice, representing the Department of the Treasury, has filed an appeal. While the case proceeds through the legal system, FinCEN has confirmed its compliance with the court order.

Looking Ahead

The legal proceedings surrounding the CTA highlight the evolving nature of financial regulation. As courts continue to deliberate, businesses should monitor updates to remain informed about their obligations. By staying informed and prepared, businesses can effectively manage their compliance responsibilities and contribute to efforts that promote financial integrity and transparency.

Continue Reading

Trending