WSJ Poll: Voters Want MAGA Lite From Trump

Summary

WSJ What’s News: Episode Summary – "WSJ Poll: Voters Want MAGA Lite From Trump"

Release Date: January 17, 2025
Host/Author: The Wall Street Journal

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Introduction

In this episode of WSJ What’s News, The Wall Street Journal delves into the latest developments shaping the political and economic landscape as former President Donald Trump prepares to take office once again. The episode covers a range of topics, including a landmark Supreme Court ruling on TikTok, voter sentiments from a new WSJ poll, corporate movements ahead of Trump's inauguration, and significant economic projections. Notable discussions feature insights from WSJ correspondents Jess Bravin, Aaron Zitner, and Rebecca Ballhaus.

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Supreme Court Ruling on TikTok

Timestamp: [00:32] – [04:33]

The episode opens with a critical update on the U.S. Supreme Court's decision to uphold a federal law that mandates the Chinese-owned social media app TikTok to either sell its U.S. operations or shut down by January 19. This ruling has immediate implications for the platform's availability in the United States.

Key Points:

• Impact on TikTok: Without compliance, TikTok could cease operations in the U.S. as early as Sunday.

• Legal Scope: The Court's decision broadly affects entities assisting TikTok, such as Apple and Google, prompting these companies to reconsider their positions.

• Presidential Transition: With the Biden administration stepping down, enforcement of the ruling will transition to the incoming Trump administration.

Notable Quotes:

• Alex Osola, WSJ Supreme Court correspondent, explains:
  “The Biden administration issued a statement today saying that the law goes into effect on Sunday. They are leaving town on Monday. And so it will really fall to the incoming Trump administration to enforce the measures.”
  [02:11]

• Jess Bravin, WSJ Supreme Court correspondent, adds:
  “Trump did say on social media that he plans to make a decision about TikTok soon. He talked to President Xi about it very recently.”
  [02:42]

• Alex Osola further elaborates on the Court's rationale:
  “They focused on one of the two prongs that the government cited as justification for the law, and that was the massive data collection that TikTok undertakes.”
  [03:27]

Implications: The ruling sets a narrow precedent, avoiding broader implications for freedom of speech or internet law. The Court emphasized data security concerns over potential Chinese manipulation of content on TikTok.

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Corporate and Economic Developments

IRS Commissioner Resignation
Timestamp: [04:33]

IRS Commissioner Danny Werfel announced his resignation effective Monday, coinciding with Trump's inauguration. This move aligns with Trump's plan to appoint former Republican Congressman Billy Long as his replacement.

National Debt Projections
Timestamp: [04:33]

Updated forecasts from the Congressional Budget Office reveal that the U.S. national debt is projected to reach 99.9% of GDP by 2029, surpassing its post-World War II peak.

Goldman Sachs Bonus and Stock Market Performance
Timestamp: [04:33]

Goldman Sachs CEO David Solomon received an $80 million bonus for committing to stay with the bank for an additional five years. Concurrently, the U.S. stock market experienced its best week since the November elections, buoyed by subdued inflation data and positive growth projections:

• S&P 500: +1%
• Dow Jones: +0.8%
• Nasdaq: +1.5%

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Voter Sentiments: WSJ Poll

Timestamp: [06:15] – [09:18]

A comprehensive WSJ poll conducted by reporter and editor Aaron Zitner explores voter attitudes towards Donald Trump's policy agenda as he prepares to assume office.

General Findings:

• Support for Direction: Voters approve of Trump's general direction on immigration and government reform, desiring substantial change.
• Mandate Skepticism: Contrary to Trump's assertion of an "unprecedented and broad mandate," voters express uncertainty, contingent on the administration's execution of its goals.

Detailed Insights:

Immigration Policies

Timestamp: [07:06] – [07:52]

• Border Security: Strong support for addressing illegal immigration and maintaining the border wall with Mexico.

• Deportation Stance:

  • 75% favor deporting undocumented immigrants with criminal records.
  • 70% oppose deporting long-term undocumented residents without criminal backgrounds who contribute to the economy.

Quote:

• Aaron Zitner:
  “They like the general thrust, but they don't like all the details.”
  [07:06]

Relationship with Elon Musk

Timestamp: [07:52] – [08:35]

• Advisor Role:

  • 50% oppose Elon Musk serving as an advisor to Trump on federal spending cuts.
  • 39% support his advisory role.

• Public Perception: Musk's diminishing public image has led to increased skepticism about his influence within the administration.

Quote:

• Aaron Zitner:
  “People have soured on him to some degree, and now those who have an unfavorable view of Elon Musk outnumber those with a favorable view by 11 points.”
  [08:09]

Territorial Ambitions: Greenland and Canada

Timestamp: [08:35] – [09:18]

• Policies: Trump's unexpected agenda includes potential economic coercion or military action to gain control of Greenland for its shipping routes and natural resources, and retake the Panama Canal.

• Voter Skepticism: Voters are largely opposed to the use of force to achieve these territorial goals, expressing uncertainty about their alignment with Trump's other priorities.

Quote:

• Aaron Zitner:
  “Voters initially don't want to at least use force to accomplish these goals.”
  [09:18]

Overall Poll Insights: While there is broad approval for the general direction of Trump's policies, voters remain cautious, emphasizing the importance of effective implementation and expressing reservations about specific strategies and associations.

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Corporate Donations to Trump's Inauguration

Timestamp: [09:18] – [11:39]

As Trump prepares for his inauguration on Monday, corporate America is actively engaging through significant financial contributions and strategic positioning.

Key Highlights:

• Donation Surge: Inauguration events have raised over $200 million, significantly higher than the 2017 influx. High-profile companies are making six-figure donations, a marked increase from previous years.

• Motivations for Donations:

  • Policy Influence: Companies aim to ensure their interests are represented in forthcoming policy decisions, particularly in sectors like cryptocurrency and industries potentially affected by tariffs.

  • Reconciliation Efforts: Some businesses seek to mend relationships and maintain favorable standings following prior criticisms of Trump's actions during his previous term, including his role in the events of January 6th.

Notable Quotes:

• Rebecca Ballhaus, WSJ Investigations reporter, remarks on donation trends:
  “What's unusual here is just how many companies are donating such large amounts.”
  [09:59]

• Rebecca Ballhaus further explains corporate intentions:
  “A lot of these companies just want to make sure that they're in the room with Trump and that they don't give him any reason to target them.”
  [11:24]

Implications: The overwhelming corporate support underscores the critical interplay between business interests and political administration, highlighting the strategic maneuvers companies undertake to safeguard and advance their operational agendas in a changing political environment.

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Conclusion

This episode of WSJ What’s News offers an in-depth analysis of the political and economic shifts occurring as Donald Trump prepares to re-enter the White House. From the Supreme Court's decisive move against TikTok to voters' nuanced support for Trump's policies, and the proactive engagement of corporate giants in inauguration activities, the episode paints a comprehensive picture of the impending administration's landscape. Insights from WSJ correspondents provide clarity on the complexities and potential ramifications of these developments, making the episode an essential listen for those seeking to understand the forces shaping the nation's future.

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For more detailed insights and to view the full WSJ poll results, visit WSJ.com.

Transcript

[Will Trent]

Will Talk to me. Abc Tuesday.

[Aaron Zitner]

They took his daughter. She's coming home alive.

[Will Trent]

Will Trent, the series critics are calling powerful Must see TV continues to thrill.

[Aaron Zitner]

Shouldn't we strategize before we go in there?

[Jess Bravin]

If we screw up this case, a.

[Rebecca Ballhaus]

Cop killer walks free.

[Will Trent]

With the riveting conclusion to a two part season premiere. TBI Help Me get down will tread. All new Tuesday on ABC and stream on Hulu.

[Jess Bravin]

The US Supreme Court upholds a law that could ban TikTok starting Sunday. And a new WSJ poll shows what voters think about Donald Trump's policy agenda shortly before he takes office.

[Aaron Zitner]

Voters like the general direction that he's going in on immigration, on reforming government. They want change, but there are a lot of warning signs in here.

[Jess Bravin]

Plus, for corporate leaders, Trump's inauguration is the hottest ticket in town. It's Friday, January 17th. I'm Alex Osoloh for the Wall Street Journal. This is the PM edition of what's news, the top headlines and business stories that move the world today. Let's start with the Middle East. Israel's security cabinet has approved a deal that would pause fighting in Gaza and free Israeli hostages. The full cabinet met later in the day to discuss and vote on it. The prime minister's office told the families of hostages that preparations were underway for the possibility of the deal going into effect as soon as Sunday. The U.S. supreme Court has ruled that it's okay for TikTok to shut down. In a ruling today, the court upheld a federal law that requires the Chinese company that owns the social media app to sell or shut it down by January 19. The ruling means that without any further intervention, the platform could go dark on Sunday. TikTok had no immediate comment, and its CEO, Sho Chu, is expected to attend President elect Donald Trump's inauguration on Monday, the 20th. For more on this ruling and its implications, I'm joined by WSJ Supreme Court correspondent Jess Bravin. So, Jess, what happens now?

[Alex Osola]

You know, the law doesn't apply only to TikTok. It applies to other companies and entities that help it reach Americans. For example, the app stores that you might see on Apple or Google. And so those organizations, those companies are probably much more concerned than TikTok is with keeping on the right side of the law in the United States. The Biden administration issued a statement today saying that the law goes into effect on Sunday. They are leaving town on Monday. And so it will really fall to the incoming Trump administration to enforce the measures.

[Jess Bravin]

Right. I mean, Trump did say on social media that he plans to make A decision about TikTok soon. He talked to President Xi about it very recently. So is there anything Trump and his allies can do?

[Alex Osola]

Well, there is something that, of course, that ByteDance, the owner of TikTok, can do. They can sell it. And in fact, that is what the law envisions. We don't expect that China will want to do that. And perhaps, perhaps they expect that Mr. Trump, when he is president again, will be more flexible. Mr. Trump filed a brief with the court saying that his own incredible negotiating skills would be able to find a solution that was satisfactory, which has eluded US Officials for years and years, including his own first administration.

[Jess Bravin]

What kind of precedent does this ruling set?

[Alex Osola]

What was interesting was that the court said its decision is narrow. They don't want to embarrass themselves in future generations in an area of fast moving technology. So there is not a major freedom speech or Internet law precedent here. At least the court wanted to signal that they are looking at the very specific circumstances of this case. Also, what was important is that they focused on one of the two prongs that the government cited as justification for the law, and that was the massive data collection that TikTok undertakes. The area that they sidestepped was the other justification, which was the ability of China or the Chinese owners or the Chinese government to manipulate the information that TikTok serves up to Americans so that China can take advantage of that. The court really walked past that argument. They said that whether or not that was a legitimate reason or justification for the law, the data security justification by itself is enough to justify this law. And that clearly is not in any way intended to interfere with anybody's free expression rights.

[Jess Bravin]

That was WSJ Supreme Court correspondent Jess Bravin. In other news, we exclusively report that IRS Commissioner Danny Werfel said he would resign with nearly three years left in his term. He plans to leave his post on Monday when Trump takes office. Trump last month announced his plan to replace Werfel with former Republican Congressman Billy Long. The national debt will reach 99.9% of GDP later this year and surpass its post World War II high as a share of of the economy by 2029. That's according to updated projections from the Congressional Budget Office out today. And Goldman Sachs gave CEO David Solomon an $80 million bonus to stay for five more years. The bank's stock, including dividends, has more than tripled since Salomon took over and today closed at a new record high. The US Stock market just notched its best week since the election in November investors this week were buoyed by muted inflation data and positive US Growth projections. Today, all three indexes were up, pulled forward by big tech companies and chip firms. The S&P 500 closed up 1%, the Dow was up about 0.8%, and the Nasdaq was up about 1 1/2 percent. Coming up, what do voters think of Donald Trump shortly before he takes office? We'll look at a new Wall Street Journal poll after the break. A new Wall Street Journal poll out today takes voters temperature about Trump's agenda and how he's expected to go about accomplishing it. Wall Street Journal reporter and editor Aaron Zittner is here to tell us more about it.

[Aaron Zitner]

This survey looked at a lot of the policies that Trump outlined during the campaign and afterward, and some of them are very specific as he laid them out, and some of them are kind of fuzzy. And how they're implemented will depend on the details of what he does with his flurry of executive and what we found is voters like the general direction that he's going in on immigration, on reforming government. They want change. But there are a lot of warning signs in here. Trump said that his election gave him an unprecedented and broad mandate to govern. Voters in this survey are not so sure. It depends on how he carries out the goals that he set out to accomplish.

[Jess Bravin]

Immigration is one of Trump's key agenda items, and he said that he wants to take sweeping action to deport undocumented immigrants. What do the voters say about that in the poll?

[Aaron Zitner]

They like the general thrust, but they don't like all the details. We know that Donald Trump was elected in large part because of concerns about illegal immigration and disorder at the border with Mexico. Well, people are on board with dealing with the border. The border wall along the border with Mexico still draws majority support. And when it comes to the deportations, it depends on who is being targeted. There is overwhelming support, close to 75% for targeting only those people in the country illegally who have criminal records. When it comes to what should happen to someone who's been in this country for a long time, has paid taxes on earnings and does not have a criminal record, 70% say do not deport that person.

[Jess Bravin]

Another controversial issue that was brought up in the poll is Trump's relationship with Elon Musk. Half of the people surveyed say it's a bad idea for Elon Musk to serve as an advisor to Trump on things like federal spending cuts, while 39% say it's a good idea. Why are people so divided?

[Aaron Zitner]

Well, part of that change probably has to do with how people view Elon Musk. And there's been a change in his public image. People have soured on him to some degree, and now those who have an unfavorable view of Elon Musk outnumber those with a favorable view by 11 points. So as his public image has soured a bit and tarnished, people have come to say maybe it's not such a good idea that he seems to be in the room with Trump on so many of decisions.

[Jess Bravin]

What about Trump's recently stated intentions regarding Greenland and Canada?

[Aaron Zitner]

One of the things that's come up since the election is Trump's territorial ambitions, which took a lot of people by surprise. It wasn't an issue in the campaign and voters are pretty skeptical of it. Trump has refused to rule out using economic coercion or military force in his plans to get control of Greenland, which he wants for shipping routes and natural resources, and to retake control of the Panama Canal. So this is something that's new on the agenda, and we kind of don't know where it fits with all of Trump's priorities. But voters initially don't want to at least use force to accomplish these goals.

[Jess Bravin]

That was WSJ reporter and editor Aaron Zitner, and you can see the results of our poll in More detail on WSJ.com we'll leave a link for you in the show. Notes Before Donald Trump can tackle his agenda, he needs to get sworn in as president, and his inauguration on Monday is the biggest ticket in town. Official inauguration festivities, including dinners, receptions and balls, have been at capacity since early January, and some six figure donors have been turned away. So far, the event has raised more than $200 million, far more than it did in 2017. Here to tell us more is WSJ Investigations reporter Rebecca Ballhaus. Rebecca, how common is it for companies to make six figure donations to a presidential inauguration?

[Rebecca Ballhaus]

It's very common to see major companies give a million dollars to an inauguration, and many companies just do the same thing every four years, regardless of the party of whoever's coming into the administration, as sort of a gesture of bipartisan, bipartisan support and obviously a way to sort of make inroads with an incoming administration. What's unusual here is just how many companies are donating such large amounts. You usually have maybe a couple dozen companies that are giving in the million range, and this time we're just expecting it to be way, way more than that.

[Jess Bravin]

What are these corporate leaders and companies hoping to get out of their donations and appearances at inauguration?

[Rebecca Ballhaus]

Well, there are a number of policy issues where they really want to make sure that the administration is hearing their side of things. The crypto industry, for example, has been very vocal about what kinds of policies it's hoping to see from this administration. Trump has also threatened to impose tariffs that would affect quite a few corporate industries. And we also have just seen over the last four years there, many companies, when Trump left office, spoke up about his role in inciting the invasion of the US Capitol on January 6th. And we're extremely critical of him. And I think some companies feel like they have some ground to make up.

[Jess Bravin]

Is there anything we can glean about how some of these businesses plan to work with the Trump administration and potentially vice versa?

[Rebecca Ballhaus]

A lot of these companies just want to make sure that they're in the room with Trump and that they don't give him any reason to target them. As for how the Trump team wants to deal with companies, I think it's very clear that Trump is enjoying the enormous amount of interest he's been getting from corporate America.

[Jess Bravin]

That was Wall Street Journal investigations reporter Rebecca Ballhaus. And that's what's news for this week. Tomorrow you can look out for our weekly markets wrap up, what's news in Markets? Then on Sunday, we'll be discussing the dynamic between Trump and lawmakers and what that means for the incoming president's agenda. That's in what's New Sunday. We're off on Monday for Martin Luther King Jr. Day, but we'll be back to our normal schedule on Tuesday. Today's show was produced by Anthony Banci and Pierre Bienname with supervising producer Michael Kosmides. Michael Lavalle wrote our theme music. Aisha El Musleam is our development producer. Scott Salloway and Chris Inslee are our deputy editors. And Falana Patterson is the Wall Street Journal's head of news audio. I'm Alex Osola. Have a great long weekend and thanks for listening.