{"id":2309553,"date":"2024-07-26T13:16:59","date_gmt":"2024-07-26T17:16:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2309553"},"modified":"2024-07-26T13:21:59","modified_gmt":"2024-07-26T17:21:59","slug":"netflix-users-money-may-be-going-to-kamala-harris-campaign-heres-how","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/netflix-users-money-may-be-going-to-kamala-harris-campaign-heres-how\/","title":{"rendered":"Netflix Users&#8217; Money May Be Going to Kamala Harris&#8217; Campaign, Here&#8217;s How"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnetflix-users-money-may-be-going-to-kamala-harris-campaign-heres-how%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2309553&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Reed Hastings,\u2063 co-founder and executive chairman of \u2064Netflix, has \u2064donated $7\u2063 million to \u2063support Kamala Harris&#8217;s presidential campaign for the \u20642024 election. Despite initially favoring a candidate who could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ron-johnsons-victory-shows-republicans-dont-have-to-sacrifice-bravery-to-win-swing-states\/\" title=\"Ron Johnson\u2019s Victory Shows Republicans Don\u2019t Have To Sacrifice Bravery To Win Swing States\">win swing states<\/a>,\u2062 Hastings shifted \u2064his support\u2063 to Harris after President Joe Biden opted out of the\u200c race. The donation, which cannot go directly to Harris&#8217;s campaign\u2064 due to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-democrats-eye-subpoenas-in-supreme-court-ethics-investigation\/\" title=\"Senate Democrats are considering issuing subpoenas in the ethics investigation of the Supreme Court.\">campaign\u2062 finance regulations<\/a>, will support a super \u200bPAC that backs\u2064 her.<\/p>\n<p>Hastings, who stepped down as\u2063 CEO of Netflix \u200bbut \u200bremains executive chairman with\u2064 a lucrative \u200bcompensation package, has been criticized for\u200b this financial support amidst rising\u2063 inflation and financial strain on the American \u200cpublic. Some experts link the Biden-Harris agenda, including the American Rescue Plan, \u200bto <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rents-rose-in-august-amid-inflation-concerns\/\" title=\"August saw an increase in rents due to inflation worries.\">ongoing inflationary pressures<\/a>,\u200c which negatively impact consumers&#8217; discretionary\u2062 spending, potentially affecting subscription services like\u200d Netflix.\u200c The\u2063 article suggests that Hastings&#8217;s\u200c financial backing of Harris could be detrimental to the future of his company, as rising costs may lead consumers to reconsider such\u2062 subscriptions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section>\n<p>Netflix co-founder and executive chairman Reed Hastings gave $7 million to support Kamala Harris&rsquo;s presidential bid.<\/p>\n<p>Hastings had been in the camp calling on <a href=\"https:\/\/www.westernjournal.com\/joe-biden-never-good-man-proof-disgraced-not-celebrated\/\" target=\"_blank\" rel=\"noopener\">President Joe Biden<\/a> to withdraw from the race, and obviously wanted to show his approval of the switch to the vice president.<\/p>\n<p>&ldquo;After the depressing debate, we are in the game again,&rdquo; Hastings told the tech site The Information, according to <a href=\"https:\/\/www.thewrap.com\/reed-hastings-donates-7-million-kamala-harris-pac\/\" target=\"_blank\" rel=\"noopener\">The Wrap.<\/a><\/p>\n<p>The $7 million donation is his first of the 2024 presidential election cycle.<\/p>\n<p>The contribution cannot go directly to the campaign, because of campaign finance laws, but it is going to a super PAC backing Harris.<\/p>\n<p>  <script> \t\t\t\tif( ! getCookie( 'ff_subbed' ) ) if( typeof FFADS.replace_ict !='undefined' ) if( FFADS.replace_ict ) eval( FFADS.replace_ict ); \t\t\t<\/script> <\/p>\n<p>Hastings hesitated supporting Harris initially, posting Sunday on X after Biden stepped aside, &ldquo;Dem delegates need to pick a swing state winner.&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Dem delegates need to pick a swing state winner.<\/p>\n<p>&mdash; Reed Hastings (@reedhastings) <a href=\"https:\/\/twitter.com\/reedhastings\/status\/1815107263687963057?\">July 21, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>But by the next day he had changed his tune, <a href=\"https:\/\/x.com\/reedhastings\/status\/1815603833927815360\" target=\"_blank\" rel=\"noopener\">writing<\/a>, &ldquo;Congrats to Kamala Harris &mdash; now it is time to win.&rdquo;<\/p>\n<p>While Hastings <a href=\"https:\/\/www.inc.com\/kit-eaton\/netflix-co-founder-reed-hastings-gives-7-million-to-pro-harris-pac.html\" target=\"_blank\" rel=\"noopener\">stepped down<\/a> as CEO of <a href=\"https:\/\/www.westernjournal.com\/netflix-sued-hit-true-story-show-biggest-lie-television-history\/\" target=\"_blank\" rel=\"noopener\">Netflix<\/a> last year, he is still executive chairman and drawing a nice big salary paid for by subscribers to the service.<\/p>\n<p>In 2023, <a href=\"https:\/\/variety.com\/2023\/digital\/news\/netflix-executive-compensation-2022-reed-hastings-ted-sarandos-1235591184\/\" target=\"_blank\" rel=\"noopener\">Variety<\/a> reported that in his new position Hastings is eligible for a $500,000 base salary, plus $2.5 million in stock options.<\/p>\n<p>And a healthy subscriber base means a good stock price. As of Thursday&rsquo;s close, it was valued at about<a href=\"https:\/\/www.marketwatch.com\/investing\/stock\/nflx\" target=\"_blank\" rel=\"noopener\"> $636 per <\/a>.<\/p>\n<p>So indirectly, Netflix subscribers are enabling Hastings to write his $7 million check to <a href=\"https:\/\/www.westernjournal.com\/kamala-harris-accused-egregious-violation-federal-law-campaign-finance-complaint\/\" target=\"_blank\" rel=\"noopener\">Harris<\/a>.<\/p>\n<p>Worth noting: She was deemed <a href=\"https:\/\/www.foxnews.com\/media\/flashback-see-how-kamala-harris-answered-when-she-confronted-2020-the-most-liberal-senator\" target=\"_blank\" rel=\"noopener\">the most liberal U.S. senator<\/a> prior to becoming vice president.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">CBS&rsquo; Norah O&rsquo;Donnell confronts Sen. Kamala Harris on her liberal record:<\/p>\n<p>&ldquo;You&rsquo;re considered the most liberal United States Senator.&rdquo; <a href=\"https:\/\/t.co\/khVbSUBYVE\">pic.twitter.com\/khVbSUBYVE<\/a><\/p>\n<p>&mdash; Mark Bednar (@MarkBednar) <a href=\"https:\/\/twitter.com\/MarkBednar\/status\/1320527326111846402?\">October 26, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>And while serving as vice president, and thereby president of the Senate, she <a href=\"https:\/\/ballotpedia.org\/Tie-breaking_votes_cast_by_Kamala_Harris_in_the_U.S._Senate\" target=\"_blank\" rel=\"noopener\">cast the tie-breaking vote<\/a> in order to pass the $1.9 trillion American Rescue Plan in March 2021 and the misnamed $1 trillion-plus Inflation Reduction Act in August 2022.<\/p>\n<p>In a February 2021 opinion piece for <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/02\/04\/larry-summers-biden-covid-stimulus\/\" target=\"_blank\" rel=\"noopener\">The Washington Post<\/a>, former Clinton administration Treasury Secretary Larry Summers wrote that passing the American Rescue Plan as the economy was already well on its way to recovery would &ldquo;set off inflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability.&rdquo;<\/p>\n<p>After it passed in March, Summers <a href=\"https:\/\/thehill.com\/policy\/finance\/544188-larry-summers-blasts-least-responsible-economic-policy-in-40-years\/\" target=\"_blank\" rel=\"noopener\">called it<\/a>&nbsp;&ldquo;the least responsible macroeconomic policy we&rsquo;ve had in the last 40 years.&rdquo;<\/p>\n<p>Former Obama administration Treasury Department official Steven Rattner in a November 2021 article for <a href=\"https:\/\/www.nytimes.com\/2021\/11\/16\/opinion\/biden-inflation-spending-manchin.html\" target=\"_blank\" rel=\"noopener\">The New York Times<\/a> identified the American Rescue Plan as the &ldquo;original sin&rdquo; leading to a <a href=\"https:\/\/www.westernjournal.com\/inflation-spikes-new-40-year-high-food-gas-prices-leading-surge\/\" target=\"_blank\" rel=\"noopener\">40-year high inflation rate<\/a> Americans are still feeling the effects of now.<\/p>\n<p>Hastings does not feel the negative financial impact of the Biden-Harris agenda, but most Americans do.<\/p>\n<p>The current fiscal path the nation is on is unsustainable and will lead to more inflation. Americans will then have to cut discretionary expenses like Netflix to get by.<\/p>\n<p>So if Hastings cared at all about the future of his company, he would never have cut a $7 million check to Harris.<\/p>\n<p>Donald Trump and the Republicans offer the best chance to get this nation back on a sustainable, prosperous track.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! 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Previously, Hastings had urged President Joe Biden to step aside, indicating his support for Harris&#8217;s candidacy. He expressed his renewed enthusiasm after a disappointing debate, stating, &#8220;After the depressing debate, we are in the game again,&#8221; in an interview with The Information, as reported by The Wrap. This donation marks his first contribution for the 2024 presidential election cycle. Due to campaign finance regulations, the funds cannot go directly to the campaign but will be allocated to a super PAC supporting Harris.<\/p>\n<p>Initially, Hastings was hesitant to endorse Harris, tweeting on Sunday after Biden&#8217;s withdrawal, &#8220;Dem delegates need to pick a swing state winner.&#8221; However, he quickly changed his stance, congratulating Harris the following day and urging her to focus on winning. Although Hastings stepped down as CEO of Netflix last year, he remains the executive chairman, earning a substantial salary funded by Netflix subscribers. In 2023, Variety reported that he is eligible for a base salary of $500,000, along with $2.5 million in stock options. A strong subscriber base contributes to a healthy stock price, which was approximately $636 per share as of Thursday&#8217;s close. Thus, indirectly, Netflix subscribers are facilitating Hastings&#8217;s $7 million donation to Harris, who was previously recognized as the most liberal U.S. senator before becoming vice president.<\/p>\n<p>During her vice presidency, Harris cast the tie-breaking vote for the $1.9 trillion American Rescue Plan in March 2021 and the over $1 trillion Inflation Reduction Act in August 2022. In a February 2021 opinion piece for The Washington Post, former Treasury Secretary Larry Summers criticized the American Rescue Plan, arguing that it would trigger inflationary pressures not seen in a generation, which could destabilize the economy. After its passage, he labeled it &#8220;the least responsible macroeconomic policy we\u2019ve had in the last 40 years.&#8221; Similarly, former Obama administration Treasury official Steven Rattner referred to the American Rescue Plan as the &#8220;original sin&#8221; that contributed to the current 40-year high inflation rate affecting Americans today.<\/p>\n<p>While Hastings may not feel the adverse financial effects of the Biden-Harris policies, many Americans do. The current fiscal trajectory is unsustainable and likely to lead to further inflation, forcing people to cut back on discretionary spending, including subscriptions like Netflix. If Hastings were genuinely concerned about the future of his company, he would not have made a $7 million donation to Harris. Many believe that Donald Trump and the Republicans present the best opportunity to restore the nation to a sustainable and prosperous path<\/p>\n","protected":false},"author":1,"featured_media":2309559,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/07\/harris-and-flix.jpg","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[36350,14890,32438,5158,5894],"class_list":["post-2309553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-campaign-funding","tag-entertainment","tag-kamala-harris","tag-netflix","tag-politics"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/07\/harris-and-flix.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2309553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2309553"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2309553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2309559"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2309553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2309553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2309553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}