Republicans losing support of business leaders

An article in the Wall Street Journal suggests that the Republican Party can no longer depend upon the support of the business community. One example:

Richard Cooper of Winnetka, Ill., a 67-year-old investor and former chairman of Weight Watchers Inc., hasn't just switched parties -- he is helping Sen. Clinton's campaign. An early Reaganite, he unsuccessfully sought the Republican nomination for Illinois governor in 1976. He says he has been alienated in recent years by Republican policies across the board. A leader of the international "Responsibility to Protect" project for global action against humanitarian crises, he opposes Bush foreign policies. The father of a daughter with lupus, he wants funding for stem-cell research, which antiabortion Republicans oppose.

As for fiscal policy, Mr. Cooper contends that "Democrats are the new conservatives." Republicans "are still talking about tax cuts. It was one thing when Ronald Reagan was doing it and the top [income-tax] rate was about 80%. Now tax rates are reasonable. So what if I have to pay 5% more in taxes?" Link.

David Brooks, from the New York Times:

To put it bluntly, over the past several years, the G.O.P. has made ideological choices that offend conservatism’s Burkean roots. This may seem like an airy-fairy thing that does nothing more than provoke a few dissenting columns from William F. Buckley, George F. Will and Andrew Sullivan. But suburban, Midwestern and many business voters are dispositional conservatives more than creedal conservatives. They care about order, prudence and balanced budgets more than transformational leadership and perpetual tax cuts. It is among these groups that G.O.P. support is collapsing. Link.

Warren Buffett explains to Hillary why he’s a Democrat:

Finally, former Republican Michael Bloomberg:

"Being a fiscal conservative is not about slashing programs that help the poor, or improve health care, or ensure a social safety net. It's about insisting services are provided efficiently, get to only the people that need them, and achieve the desired results. Fiscal conservatives have hearts too - but we also insist on using our brains, and that means demanding results and holding government accountable for producing them.

"To me, fiscal conservatism means balancing budgets - not running deficits that the next generation can't afford. It means improving the efficiency of delivering services by finding innovative ways to do more with less. It means cutting taxes when possible and prudent to do so, raising them overall only when necessary to balance the budget, and only in combination with spending cuts. It means when you run a surplus, you save it; you don't squander it. And most importantly, being a fiscal conservative means preparing for the inevitable economic downturns - and by all indications, we've got one coming. Link.