OPINION: How to Make Your Money Have an Impact Post-2024 Presidential Election

I want to make it perfectly clear that when it comes to elections and results, I don't enjoy telling people off for who they voted for.

Regardless of who you voted for, I believe every individual has a reason for why they voted, and we should respect those reasons. HOWEVER, recently on Facebook I've been seeing a lot of people push around a Google doc of local businesses that had a Trump sign in their front lawn, with the rhetoric of 'Stay away from this business.'

Individuals choosing where they shop based on similar ideology isn't new, as we all know with the famous Masterpiece Cakeshop v. Colorado Civil Rights Commission Supreme Court Case, where a bakery elected not to make a wedding cake for a LGBTQ couple. And while I do believe there's a clear moral issue between people who voted Red versus Blue in this 2024 Presidential Election, I also think the current Google Doc floating around is a very different case from 'don't shop here because they're bigots' and 'they had a sign in their yard.' I also believe there's a clear case of immoral marketing at play, but that's another blog post.

The 2024 Presidential election has brought about a lot of division in the United States, with emotions running high on both sides. But regardless of who you voted for, one thing remains certain: Your dollar is powerful. And in a time when our nation's future feels uncertain, deciding where and how to spend your money is more critical than ever. There's been a strong push on social media from both parties, with some people calling to boycott local businesses based on political beliefs. However, a smarter and more impactful strategy would be to focus on where your money can truly make a difference.

Why Supporting Local Matters Now More Than Ever

During times of political turbulence, small businesses are often hit the hardest. Unlike Fortune 500 companies, which have the resources to weather economic uncertainties and often receive lucrative tax breaks from administrations like Trump’s, local businesses are the backbone of our communities. They're owned by our neighbors, employ our friends, and reinvest their earnings back into the local economy.

Shopping local means:

• Boosting the Local Economy: For every $100 spent at a local business, approximately $68 stays in the community, compared to only $43 when spent at a chain store.

• Fostering Community Resilience: Small businesses are more likely to source products and services locally, creating a ripple effect of economic support.

• Preserving the Character of Your City: Local shops, restaurants, and services give our communities unique charm. When you shop local, you support the creative and entrepreneurial spirit that makes your town special.

With Trump's tax policies favoring large corporations through significant breaks and incentives, it's more crucial than ever to support businesses that aren't seeing the benefits of those policies.

That's why I believe changing the rhetoric and reading blog posts like these are so powerful: yes, a Google Doc telling us who had a Trump sign in their business's lawn has value, but electing to not shop at that small business and taking your business to a chain store is doing your local community more harm than good. Keep reading to understand what I mean.

The Power Players: Who Funded the Presidential Campaigns?

Understanding who funded the major presidential campaigns gives us insight into who stands to gain the most from the upcoming administration's policies. And while it's illegal for companies to directly donate to Presidential campaigns, the individuals who run those companies certainly do a lot of donating. It makes it hard, however, because you can't just Google 'did Home Depot donate to Trump' - because the answer is no.

Here's a breakdown of some of the largest individual contributors and the companies they are associated with:

Top Donors for the Trump Campaign

1. Elon Musk (SpaceX, Tesla): $118 million

   • Musk's contributions are not surprising, given his outspoken political opinions and business interests. As the CEO of multiple high-profile tech companies, Musk stands to benefit from tax cuts for the wealthy and deregulation policies that could favor his enterprises.

2. Jeff Bezos (Amazon): $769K split evenly between the Trump and Harris campaigns

   • Bezos hedged his bets by donating equally to both sides, a strategic move likely aimed at maintaining influence regardless of the election outcome. As one of the wealthiest individuals in the world, Bezos and Amazon stand to gain from policies that lower corporate taxes and reduce restrictions on big tech.

3. Miriam Adelson (Dallas Mavericks): $100 million

   • Miriam Adelson, the widow of casino magnate Sheldon Adelson, has long been a supporter of conservative causes. Her significant financial contribution underscores her continued commitment to Trump and policies that favor the wealthy elite.

4. Rob Bigelos (Budget Suites of America): $34 million

   • As a real estate mogul, Bigelos' substantial donation aligns with the broader interest of the real estate industry in maintaining favorable tax laws and deregulations.

Top Donors for the Harris Campaign

1. Reed Hastings (Netflix): $7 million

   • The Netflix CEO has been a prominent donor to Democratic causes. His contribution suggests support for policies that promote net neutrality, social progress, and antitrust measures that could challenge larger tech monopolies.

2. Dustin Moskovitz (Meta): $38.7 million

   • As a co-founder of Meta (formerly Facebook), Moskovitz’s donation reflects a push towards progressive policies, especially in terms of regulating big tech, improving social media ethics, and promoting mental health.

3. Fred Eychaner (Newsweb Corporation): $31 million

   • Eychaner, known for his support of progressive media and liberal causes, made a significant financial impact on Harris' campaign. His involvement points to a desire for media freedom and liberal policies that favor minority groups.

4. Reid Hoffman (Airbnb): $30 million

   1. Hoffman's contributions emphasize his interest in promoting a more progressive economic landscape, particularly through the sharing economy model and increased support for small businesses and entrepreneurs.

Remember that the election just happened, and not a lot of data is public yet. However, here's a list of companies that provided financial support to members of Congress who sought to invalidate the 2020 presidential election results.

Your Spending Power: A Tool for Change

Given the immense financial influence that billionaires and large corporations had on this election, it's easy to feel like your voice doesn't matter. But in reality, your spending power is a tool for change. When you choose to shop locally and support small businesses instead of multinational corporations, you are effectively voting with your dollar for the kind of economy and community you want to see.

Here’s how you can make your money have an impact post-election:

1. Prioritize Local Businesses Over Big Chains

• Next time you're shopping for groceries, clothing, or gifts, consider stopping by a local store instead of heading to a big-box retailer like Walmart or Target. By doing this, you ensure your money stays within your community and supports small business owners who don’t benefit from corporate tax breaks.

2. Support Businesses with Aligned Values

• Many local businesses are vocal about their values and give back to the community. Choose to support those that align with your beliefs and contribute to causes you care about. For example, if a local bookstore donates a portion of its sales to LGBTQ+ organizations, consider buying your next book there instead of on Amazon.

3. Invest in Socially Responsible Companies

• If you choose to invest, look into socially responsible investing (SRI). This allows you to put your money into companies that prioritize ethical practices, environmental sustainability, and positive social impact. It’s a way to grow your wealth while supporting businesses that aim to make a difference.

4. Promote Ethical Consumerism

• Educate yourself and others about where products come from and the practices of the companies that produce them. This could mean choosing to buy from companies that source materials ethically, pay fair wages, and maintain transparent business practices.

The Bigger Picture: Moving Towards a Sustainable Future

The reality is that no matter who is in the White House, large corporations will continue to wield enormous power. They have the resources to lobby for favorable legislation and often receive benefits like tax cuts regardless of the political climate. However, this doesn't mean we, as consumers, are powerless. By choosing to invest in local businesses and consciously spending our money, we can help level the playing field and build a more equitable economy.

It’s time to stop giving our money to corporations that already have a firm grip on our economy and start investing in the small, local businesses that need our support the most. The future of our communities depends on the choices we make every day, and even small changes in our spending habits can lead to significant, long-term impacts.

So next time you open your wallet, think about where your money is going and what kind of future you want to support. By choosing local, you're not just making a purchase—you're making a statement.