David Koch, of the infamous Koch Brothers, died in August 2019. His brother, Charles, continues the family tradition with attempts to undermine the workings of our government, especially when it involves fair taxation.
In 2010 the Koch brothers created the TEA Party in an obvious effort to destroy the once Grand Old Party. Their purpose was and is to protect the current plutocracy, which controls an entire party in Washington. It appears that their plans have succeeded.
Charles Koch is paying for television ads to halt a bill that would begin the process of fair taxation.
The bill, known as the Inflation Reduction Act of 2022, promises to raise $739 billion in new revenue — mostly by setting a minimum corporate tax rate and making changes to Medicare drug pricing — to help pay for $433 billion in climate and health initiatives.
In the ads, Koch specifically names Manchin and Sinema, asking them to derail this watered-down version of President Biden’s original “build back better” proposal.
In the 21st century, the American people are governed by plutocrats. Their greed is priority number one. Under Trump’s illegitimate presidency, several of the largest and wealthiest corporations in the world paid little or no taxes. The President is attempting to reduce the national debt and find funding for necessary programs to repair our nation with a plan to make everyone pay their fair share in taxes. Koch and the other 723 billionaires are fighting to keep every dollar they have. I do not have the money to buy ads, so I am asking you to contact your representatives in Washington and demand they support President Biden’s plan to repair our economy.
Sixty years ago, the economy was booming. There were no serious complaints from the wealthiest Americans, whose profits increased every year. Then in 1981, Ronald Reagan put his failed fiscal policy in place. Known as “trickle-down economics,” it reduced the taxes of the wealthiest Americans and largest corporations. The result was an increase in the wealth of the top 5%, an increase in income inequality, and the beginning of expanding the national debt.
The three Republicans who followed Reagan into the White House, George H.W. Bush, George W. Bush, and Donald Trump, used the same economic policy. Democrats Bill Clinton, Barack Obama, and Joe Biden were forced to repair the damage caused by their predecessor’s failures. Placing our nation in two illegal and unwinnable wars, the Great Recession and Trump’s failure to act quickly as the COVID-19 pandemic approached placed our nation’s economic future in jeopardy.
It is mandatory that our nation’s 724 billionaires and 22.3 million millionaires pay their fair share of taxes. The plutocracy must be destroyed. Income inequality is reducing consumerism, and our nation cannot survive without the majority of our nation’s people spending money.
Koch and his fellow billionaires have no justification for not contributing to America’s economic stability. Greed is not a legitimate excuse. Their God is money, and their greed will eventually result in depression.
Written by James Turnage
CNBC News: Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending bill; by Brian Schwartz
Rolling Stone: Inside the Koch Brothers’ Toxic Empire; by Tim Dickinson