A Harvard study found that executives donate more heavily to Republicans. For the study, to be released Tuesday, they tracked personal political contributions for more than 3,500 chief executives that occupied the corner office anytime from 2000 to 2017. Just 18.4 percent of the executives studied were designated as Democrats. The clear majority — 57.7 percent — demonstrated their affiliation through donations to the Republican Party. Indeed, 75 percent of donations from the median chief executive were directed to Republicans.
The tax bill soaks some of rich Americans — but it does not soak the richest.It is the “pretty rich” right below that level that may get hit: the W2 employee making several hundred thousand dollars to millions of dollars a year with high state and local taxes that will not be fully deductible may see a higher tax bill. So will the chief executives of many large publicly traded companies who often itemize large, unreimbursed business expenses, which will no longer be allowed. Some executives are already calculating that they will be paying additional seven-figure sums in taxes.