But the Kochs are also capable of surprise, with their libertarian instincts often trumping their conservative ones. David Koch, for instance, supports gay marriage and opposes the war on drugs. The brothers’ new political emphasis in the coming year? Fighting corporate welfare.Well, there are apparently a few things I agree with these guys on. I also give them credit for heavily reinvesting in their business. The article states they shoot for reinvesting 90% of profits. That is how someone grows a business.
Unlike climate change, the Kochs come at this cause with a more pristine mandate, since many subsidies help their company. For example, Charles counts the end of the ethanol subsidy as a major success, even though Koch Industries is a major ethanol producer. (This is not totally unusual in the energy business; Exxon Mobil also routinely lobbies against subsidies because it doesn’t want to invest in any business dependent on unpredictable federal largesse.) While Obama talks about getting rid of lobbyists, Charles says, the “only way he can achieve that stated objective is to get government out of the business of giving goodies.” “That’s like flies to honey,” he adds. “The first thing we’ve got to get rid of is business welfare and entitlements.”
One thing to count on: Once the Kochs starts down this road, they’re very likely to stay at it. Ditto Charles Koch himself.
Monday, December 10, 2012
In Which I Can Agree With The Koch Brothers
The Koch brothers look to take on corporate welfare (via Ritholtz):
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