Democrats scored victories across the country in November 2025, with centrist and leftist candidates taking crucial positions. From the left to the right, New Jersey Gov.-elect Mikie Sherrill, New York City Mayor-elect Zohran Mamdani and Virginia Gov.-elect Abigail Spanberger. (Michael Nagle/Bloomberg via Getty Images; Adam Gray/Bloomberg via Getty Images; Alex Wong/Getty Images)
The former presidential candidate, who ran in the 2024 election cycle, said that his party is making a mistake in its messaging on billionaires and business.
"Well, personally, I think they're going too far anti-billionaire in their approach. America is a country where people can make of themselves what they want, and most of the people that are billionaires in America did not inherit their wealth," Palmer said.
"Business building is a core part of what makes America great, and I don't think the Democratic Party should be bashing business builders. I think we should be pro-entrepreneurship and pro-mission-driven entrepreneurship, especially," he added.
While Palmer discussed the possibility of split messaging, he believes there is one issue that both Democrats and Republicans can get behind: conscious capitalism. He sees public benefit corporations (PBC) as the way of the future as young people search for meaning.
"I think conscious capitalism is where our economy is ultimately going," he said. "More and more young people want to work at purpose-driven companies, and they're okay with them being for-profit companies."
Democratic socialist Zohran Mamdani supporters gather outside 30 Rock in New York City on Thursday, Oct. 16, 2025. (Fox News Digital/Deirdre Heavey)
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
In order to implement conscious capitalism as actual policy, Palmer suggested a two-step taxation process in Washington, D.C. This would allow corporations that have mission-driven principles and release impact metrics to pay a lower rate than companies that go completely for-profit.
With less than a year to go before the 2026 midterms, Palmer's message to Democrats is to "look for younger candidates to run in purple districts all across the country." He also shared that he plans to release a list of young candidates who he is endorsing. He said the people on his list are in their 20s and 30s and have entrepreneurial backgrounds and believe in "conscious capitalism."
Rachel Wolf is a breaking news writer for Fox News Digital and FOX Business.
https://www.foxnews.com/politics/former-democratic-presidential-candidate-talks-about-future-his-party-after-off-year-election-success