Tuesday, October 13, 2015

Update: More on the 158 families that fund Republican PACs

A couple of days ago I wrote about the NY Times report on 158 ultra-wealthy families who are funding the presidential campaign. That is, they are providing hundreds of thousands of dollars (each!) to PACs that overwhelmingly support Republican candidates.

AZBlueMeanie at Blog for Arizona picked up that story in a post today and adds this observation.

[Quoting the Times report:] "They don’t want anything from the government except that they’d like to export oil, and most of them want the Keystone pipeline," T. Boone Pickens, the investor and natural gas advocate, said about his colleagues in the energy business.

"They don’t want anything from the government" – really? The energy sector is among the most heavily subsidized industries by the government and receives favorable tax treatment, as does the The Predator Class, the Banksters of Wall Street and Vulture Capitalists who were, after all, bailed out by American taxpayers just a few short years ago. Their wealth has fully recovered, while the average American has just tread water or lost ground.

The ultrawealthy receive substantial benefits from the government, far more than the average American, because they can afford to pay lawyers and lobbyists to ensure that Congress only listens to their concerns, wrapped in a hefty campaign contribution. While supreme Court Justice Anthony Kennedy may not see this as bribery and political corruption, he is wrong; it is.

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