Conservative billionaire Charles Koch told his ultra-rich friends that they face a “life and death” decision whether to keep lobbying for tax breaks and government subsidies.
“Business leaders (must) recognize that their behavior is suicide, that it is suicide long term. To survive, long-term, they have to start opposing, rather than promoting, corporate welfare,” Koch told about 450 allies at an Orange County, Calif., summit that began Saturday.
....“Obviously, this prescription will not be an easy pill for many business people to swallow. Because short term, taking the principled path is going to cost some companies some profits, as it will for Koch Industries,” the 79-year-old Koch said. “But long term, it will allow business people to continue to own and run their businesses, which none of us will be able to do, in my view, in the future otherwise.”
He pointed to big banks that took “virtually free money from the Fed” and bailouts in exchange for regulations. “Now, the chickens are coming home to roost,” Koch said. “The Fed is taking control of these banks. The Fed now decides what businesses they can be in and how they run those businesses.” Koch said “regulators, auditors, controllers” are implanted at the banks to keep tabs. The banks, Koch argued, end up making political donations to avoid too much oversight.
Koch warned that other businesses would be next if their leaders continue taking government subsidies. “This means stopping the subsidies, mandates and special privileges for business that enriches the haves at the expense of the have-nots,” Koch said.
Actually, conservatives (most) and libertarians (universally) are against corporate welfare (subsidies and bailouts) because it runs contrary to free market economics. Republican politicians support it, and so do their progressive counterparts (despite class warfare rhetoric), because it benefits them both and both benefit these crony capitalists.
America is not marching toward socialism, and is not even marching toward fascism. Economically, America is already a fascist state. There are major differences -- this is progressive, internationally oriented fascism, not the stereotypical hypernationalist fascism with state enforced cultural traditional -- but it is close enough to meet the definition
Sadly, many progressives blame only the corporations and favor greater state regulation -- forgetting that these politically favored corporations use regulation to destroy smaller competitors -- or in extreme cases, outright nationalization. In both scenarios, the state is the ultimate monopoly.