Monday, April 28, 2014

Statism's Spawn, Crony Capitalism, Stinks!

By John Sykes

I don't believe there is anything wrong with being rich. In fact I tried real hard! But I do believe that we have a major problem when someone else gets rich using our tax dollars. This must soon stop or this country as we know it will be toast! Statism's spawn, crony capitalism, stinks!

Nick Sorrentino in Why do nearly all the super rich (with the exception of the Kochs and a couple others) support the Democrats?
And indeed the rich have gamed the system for their benefit,... but the game the super rich want to play for the most part is not one of free markets and open competition, but one of crony capitalism. 
The super rich overwhelmingly support statism. For every David Koch writing checks there are 10 crony capitalists with pens in their hands writing checks to politicians who will pass laws which benefit the crony capitalists. Why is it that Warren Buffett, Carlos Slim, and George Soros, all broadly support statism? Why is it that they want more regulation? Could it be that more government pads their bottom line?  
For instance Warren Buffett owns, through Berkshire Hathaway, GEICO, aka Government Employees Insurance Company. Almost every federal employee has GEICO. (I know because I used to sell it to them in college.) What do you think the chances are that the feds would ever in some crazy circumstance let GEICO die?   
The statists control the media, the universities, the levers of bureaucratic government, the Senate, the presidency, the banks (in very large part), the Federal Reserve, many of the think tanks, much if not most of the billionaire money, the unions, the schools through teacher unions, and Harry Reid goes on the floor and calls a private citizen “un-American” because  that citizen funds the effort to get government out of people’s lives? What kind of insanity is that?
Let's let the Chicago school speak up:

Related Links:

Capitalism vs. Crony Capitalism