Tag: Charles Koch

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general freedom ideological culture national politics & policies too much government

Koch Feels the Bern?

Charles Koch, Bernie Sanders, Bern, socialism

“Hardly.” That was the response the CEO of Koch Industries gave to his own question, “Is Charles Koch feeling the Bern?”

Yet, in Mr. Koch’s Washington Post op-​ed last week, the multi-​billionaire did “applaud the senator for giving a voice to many Americans struggling to get ahead in a system too often stacked in favor of the haves.”

Though Sen. Bernie Sanders regularly bashes Charles and his fellow-​billionaire brother, David, the Kochs are ahead of Sanders in decrying “the regulations, handouts, mandates, subsidies and other forms of largesse our elected officials dole out to the wealthy and well-​connected.” As Charles explains, “Perversely, this regulatory burden falls hardest on small companies, innovators and the poor, while benefitting many large companies like ours.”

Koch cites the government’s unfair, wasteful and destructive ethanol mandate: “We oppose that mandate, even though we are the fifth-​largest ethanol producer in the United States.”

That’s putting his mega-​money where his mouth is.

Indeed, it is just one example of the Kochs doing the very opposite of what their critics charge them with: advocating “radical” or “reactionary” policies that serve their business interests.

Sanders’s regular, ritual demonizing of the Koch brothers ignores the reality of who the Kochs are.

Their real disagreement with Sanders is over how best to increase opportunity.

The Vermont senator believes the answer is more government programs, regulations and taxes. Charles Koch, on the other hand, sees those very policies as “what built so many barriers to opportunity in the first place.”

This is Common Sense. I’m Paul Jacob.

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Charles Koch, Bernie Sanders, Bern, socialism

 

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folly general freedom ideological culture media and media people

Nazi by Association

Koch brothers, Nazi, New York Times, shame, Common Sense, illustration

Do haters of Charles and David Koch, the billionaire philanthropists, know no bounds of decency?

Monday’s New York Times squib, “Father of Koch Brothers Helped Build Nazi Oil Refinery, Book Says,” is a grand case in point. The article is basically pre-​release gossip about a book that hasn’t been published yet: Dark Money, by Jane Mayer, a New Yorker writer. The author focuses on the Kochs and other rich folks who, the article says, served as “the hidden and self-​interested hands behind the rise and growth of the modern conservative movement.”

As usual with “progressive” minds, she just assumes that all the billionaires and foundations who have supported her causes over the years cannot also (or: better) be described as “self-​interested.”

Her main charge, that the Koch brothers’ father had helped build “the third largest oil refinery in the Third Reich, a critical industrial cog in Hitler’s war machine,” is nothing more than guilt by association. As Dave Robertson, President and Chief Operating Officer of Koch Industries, notes in his official response, the plant in question was built before Hitler had proven himself a tyrant. It’s ridiculous to insinuate that the business deal demonstrates that a family of limited government proponents were somehow in favor of the big government tyrant, Adolf Hitler.

Calumny!

But once made, we may return volley.

Partisans often accuse their enemies of their own worst faults. I’m sure Ms. Mayer is not a Nazi, as such, but her economic ideas are a lot closer to the actual policies of the National Socialist Party than are the Kochs’.

Hence her need to smear first.

This is Common Sense. I’m Paul Jacob.

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Koch brothers, Nazi, New York Times, shame, Common Sense, illustration

 

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Common Sense folly ideological culture media and media people national politics & policies political challengers responsibility

Gross Domestic Prevarication

Eternal Koch, meme, Paul Jacob, Koch Brothers, collage, photomontage, http://cognitivebiasparade.prosite.com/

A sign of these sorry times for professional journalism: Time magazine runs a dishonest smear against Charles Koch, completely twisting the billionaire’s remarks at a recent meeting of major donors in Orange County, California.

“Charles Koch Says US Can Bomb Its Way to $100,000 Salaries,” screamed the headline. The sub-​heading added, “Building bombs and using them is one way to growth, the billionaire suggests to allies.”

What did Mr. Koch actually tell the assembled crowd of major donors?

“I think we can have growth rates in excess of 4 percent. When I’m talking about growth rates,” explained Koch, “I’m not talking about that GDP, which counts poison gas the same as it counts penicillin. What a monstrous measure this is. If we make more bombs, the GDP goes up — particularly if we explode them.”

In other words, while Time’s headline portrayed Koch as a warmonger, the billionaire businessman wasn’t suggesting this country “Bomb Its Way” anywhere. Certainly not “to growth.” In fact, Koch was making the opposite point: true economic growth can’t come from producing or using “poison gas” or other munitions.

Apparently, I wasn’t the only one who had found this article’s headline to be a flat-​out concocted falsehood; Time soon changed the headline.

Yet, even the re-​written headline was sort of a slap: “Charles Koch Mocks Common Measure of Prosperity.” Only after reading the sub-​head — “Calls ‘monstrous’ the notion that GDP values bombs as much as medicine” — was it clear that Koch was making a very common sense point.

This is Common Sense. I’m Paul Jacob.

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Eternal Koch

 

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free trade & free markets ideological culture insider corruption

Billions and Billionaires

Where do billionaires come from?

Douglas French, president of the Ludwig von Mises Institute, reminds us where the term “millionaire” came from. It was

coined in 1720 during John Law’s “Mississippi Bubble” to describe those making vast fortunes in Law’s Mississippi Company stock that rose from 150 livres to 10,000 in the matter of months. But just as quickly, the stock and the currency wildly inflated by Law’s Banque Royale, crashed and Law was forced into exile.

Today’s plethora of billionaires — which in 15 years has increased fivefold — is (argues French) at least in part the result of Ben Bernanke’s monetary manipulations. He’s the John Law of our time. “What were once Law’s millionaires are now Bernanke’s billionaires.… Bernanke has been on the job for six years, and the Gates, Buffetts, and Slims of the world are reaping the benefit. But for how long?”

Keeping track of today’s billionaires has become both a form of popular entertainment (Forbes’s list) as well as a topic for careful study. The political “philanthropy” of George Soros and Charles Koch inspires both enthusiasm and dread in activists, left and right; Warren Buffett has become something of a hero to the 99 percenters, what with his repeated pitches for higher taxes on the rich.

But Buffett is a sly one. He makes his money in a variety of ways — one of which Peter Schiff recently explained: “Buffett actually stated in September 2008 that he would not have invested in Goldman Sachs if not for the implicit guarantee of federal assistance. As a result, he profited at the expense of taxpayers at the very time when they were losing their savings in the markets.”

Not all billionaires are created equal.

This is Common Sense. I’m Paul Jacob.