Transcript: Thom Hartmann: The Big Picture: Koch vs Buffet - Who's right and why? 22 August '11

Last week billionaire capitalist Warren Buffet called on Congress to stop “coddling” millionaires and billionaires and to raise taxes on people like himself to the same level that his secretary pays.

Asking that the uber-rich pay taxes like everybody else he didn’t just draw the ire of talking millionaires heads like Eric Bolling at Fox so-called news, who apparently missed Econ 101 and thus called Buffett a "socialist".

He also upset a fellow billionaire - oil oligarch Charles Koch.

In a statement released to right-wing media outlets - Charles Koch responded to Buffett by writing.

I believe my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington.

Which makes me wonder if Charles Koch even knows how he made his billions in America?

Does he realize that it was thanks to “Washington’s” international treaties, negotiated by "government" negotiators and ratified by the "Government" Senate that allowed his dad to do business with Joseph Stalin and make hundreds of millions by setting up 15 oil refineries in the Communist Soviet Union?

And that it was thanks to “Washington’s” banking system that then allowed his dad to bring those millions back to the United States - and invest it - and eventually bequeath it to his brothers?

Does Charles Koch realize that it was “Washington’s” court system - that enforces his contracts to do business and to take-over other smaller competitors - and fire workers and streamline services - and expand his own mega corporation?

Does he realize that it’s “Washington’s” investment in the nation’s infrastructure that allows him to transport his goods all over the nation in an efficient way to maximize profits?

Does he even realize it’s “Washington’s handouts” that - as the "New York Observer" and "Institute for Public Accuracy" have uncovered - allowed his timber and cattle ranching companies to set up shop on public lands paid for by us taxpayers - and use public roads - again paid for by us the taxpayers.

Does he realize he makes millions from his government contracts with “Washington”?

Does he realize his corporation directly reaps benefits from the billions in taxpayer subsidies and corporate welfare that goes to oil companies every year, you know, like his oil company?

I guess he doesn’t realize any of that - because if he did he wouldn’t say something dumb like his own investments are better than the government’s - because without government - and without taxpayer money - Charles Koch would have no investments.

And speaking of those so-called investments - are they REALLY more beneficial to the societal well-being?

Like the millions of dollars - as reported by the Wall Street Journal - that Charles Koch has funneled into the George Mason University think tank known as the Mercatus Center - that’s filled to the brim with climate change deniers and faux scientists hell-bent on destroying as many environmental regulations as they can - you know - regulations that make sure that the air we breathe - the water we drink - and the food we eat is safe.

In fact - when George W. Bush came into office in 2001 - the Koch-funded Mercatus Center suggested more than half of the environmental regulations that Bush immediately put on the chopping block.

So when our kids get asthma thanks to this polluter agenda - we can thank Charles Koch for his so-called "investments" that benefit our “societal well-being”.

Or maybe Koch was referring to the hundreds of millions of dollars he invests in universities across the nation - like the economics department at Florida State University - where - as the St. Petersburg Times noted - Charles Koch can veto the hiring of any new professors if they don’t subscribe to his tax-cut and deregulation agenda.

Or - at Utah State University - where Koch's contribution happens to coincide with a requirement for students at the school of business to read his book.

There’s also Charles Koch’s investments into Tea Party and anti-tax think tanks and front groups like Americans for Prosperity - that have brainwashed millions of Americans into thinking that tax cuts for the rich will trickle down - when they won't - and that entitlement programs are going broke - which they aren't.

But their anti-tax efforts have yielded excellent added profits for his corporation and millions in extra cash for his personal bank account, and they make sure that, just like Warren Buffet, he pays far less of his income in payroll taxes than his secretary does.

From pushing to gut the EPA - to spending huge lobbying dollars to keep his corporate and personal income taxes at historic lows - the main group of people who benefit from the Kochs "investments" - are oligarchs who also have 9 zeroes in their Swiss bank accounts.

The rest of us are left to suffocate under more and more pollution and a growing wealth imbalance that’s leading to civil unrest all around the world.

If that’s Charles Koch's idea of investments that benefit the "societal well-being" - then, frankly, he can keep them - cuz' we don't want them.

It’s simple - Billionaire oligarchs like the Koch brothers who don't want to pay their fair share to support what makes America great are leeches on our body politic.

That's The Big Picture.

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