Charles G. Koch, chairman and CEO of Wichita-based Koch Industries, penned a Monday commentary in the Wall Street Journal headlined “Corporate Cronyism Harms America” pointing to such government policies as “affordable housing” quotas, the Community Reinvestment Act and the “Federal Reserve’s artificial, below-market interest-rate policy” as causes of “the dreadful condition of our economy.” Koch wrote: “Far too many businesses have been all too eager to lobby for maintaining and increasing subsidies and mandates paid by taxpayers and consumers. This growing partnership between business and government is a destructive force, undermining not just our economy and our political system, but the very foundations of our culture.” Koch acknowledged that some of the energy subsidies and mandates benefit Koch Industries but called for an end to such “distorting” and “corrupting” policies, concluding: “If America re-establishes the proper role of business in society, all kinds of benefits will accrue. Our economy will rebound. Our liberties will be restored. And when President Obama tells an entrepreneur ‘You didn’t build that,’ everyone will know better.”
Republicans have made a lot of political hay by taking out of context President Obama’s comment about how successful businesses weren’t built on their own. But some of their examples of go-it-alone entrepreneurs haven’t held up to closer examination. Rep. Tim Huelskamp, R-Fowler, produced a video about a box company in Hutchinson whose owners, “not Barack Obama, built their business.” But the Hutchinson News reported that the company asked for and received several exemptions from property taxes. Sher Valenzuela, a Republican candidate for lieutenant governor in Delaware, bragged at the Republican National Convention about how she and her husband built their business on their own. She didn’t mention that they began their business with the help of a federal loan, or that they expanded it thanks to a large loan backed by the federal stimulus act, or that most of their business is government contracts.
The following satirical headlines come from borowitzreport.com and theonion.com:
Clinton Regrets Reading Short Version of Speech
Biden Says Life Better Than It Was 4 Years Ago But Nothing Can Touch Summer of ’87
Rising Star John Kerry’s Stirring Speech Paves Way for 2016 Presidential Run
Guantanamo Prisoners Released Into Cheering DNC Crowd
Poll: Romney Trails Empty Chair
Ryan Calls Nomination Greatest Triumph Since Winning Tour de France
DNC Lacking Same Delusional Magic It Had in 2008
Paul Ryan Cuts $120 Million in Wasteful Spending From Romney Campaign
Unemployed Man Who Had to Move Back in With His Parents Still for Obama
Charles G. Koch, chairman and CEO of Wichita-based Koch Industries, penned a Monday commentary in the Wall Street Journal headlined “Corporate Cronyism Harms America” pointing to such government policies as “affordable housing” quotas, the Community Reinvestment Act and the “Federal Reserve’s artificial, below-market interest-rate policy” as causes of “the dreadful condition of our economy.” Koch wrote: “Far too many businesses have been all too eager to lobby for maintaining and increasing subsidies and mandates paid by taxpayers and consumers. This growing partnership between business and government is a destructive force, undermining not just our economy and our political system, but the very foundations of our culture.” Koch acknowledged that some of the energy subsidies and mandates benefit Koch Industries but called for an end to such “distorting” and “corrupting” policies, concluding: “If America re-establishes the proper role of business in society, all kinds of benefits will accrue. Our economy will rebound. Our liberties will be restored. And when President Obama tells an entrepreneur ‘You didn’t build that,’ everyone will know better.”
