Republicans are losing faith in most American institutions, but their opinions of banks, big corporations, and Big Tech are falling the fastest, according to a recent poll released by Pew Research Center.
Asked if each institution is “having a positive or negative effect on the way things are going in the country these days,” only “churches and religious organizations” received positive marks from Republicans. Every other institution received even or negative remarks, with “banks and other financial institutions,” “large corporations,” and “technology companies” falling the fastest.
Sixty-three percent of Republicans said banks had a positive effect on the country as recently as August 2019, compared to just 50% of Republicans today, a fall of 13 points. Fifty-eight percent of Republicans said technology companies had a positive effect on the country in 2019, compared to just 38% of Republicans today, a fall of 20 points. And 54% of Republicans said large corporations had a positive effect on the country in 2019, compared to just 30% of Republicans today, a fall of 24 points.
Nothing in what Pew released indicates why Republican opinions of these institutions have fallen so quickly. Still, the timing of the fall tends to suggest it probably has something to do with each of these institutions becoming far more political recently, always siding with Democrats.
Whether it is hysteria over voter laws in Georgia, critical race theory forced on employees, or huge donations to organizations that opposed the nuclear family, Republicans have noticed that big banks, big corporations, and big tech always seem to support far-left causes.
Traditionally, each of these institutions has relied on Republican affinity in some ways when Democrats wanted to regulate further or tax these industries. And maybe these industries are counting on the Democrats currently in power to regulate them in ways that ultimately help their bottom lines.
But Democrats will not be in power forever. Republicans will eventually have opportunities to change how federal law treats these institutions. While Republicans may not have firm plans now about taking on banks, corporations, and tech, they will most likely be searching for ways to weaken each of them.
