Saturday, October 13, 2012

Six Tenths Of One Percent

For your Saturday reading enjoyment, here is an interesting piece from Public Citizen about a couple of the oligarchs who stand to profit from a Romney - Ryan win:

“It all started when I was a little boy. One day, my father gave me an apple. I soon sold it for five dollars and bought two apples and sold them for ten. Then I bought four apples and sold them for twenty. Well, this went on day after day, week after week, month after month, year after year, until my father died and left me three hundred million dollars!” – The New Yorker, 2010

That’s how David Koch — of the infamous billionaire Koch Brothers — joked about his success in a 2003 speech to fellow alumni of the exclusive boarding school he attended as a youth.

And now David and his brother Charles are spending some $400 million trying to engineer elections so that we end up with a government that would gut vital regulations, deny climate science, cut corporate taxes and let Wall Street run wild.

At the current median annual household income, it would take 7,991 years to make that much money.

But here’s the thing:

For Charles and David Koch — who are tied at fourth on Forbes’ latest list of the richest Americans — $400 million is only about six-tenths of one percent of their combined net worth of $62 billion.

And they stand to gain untold billions more if they are successful in their schemes to deform government.

Let me throw one more statistic at you: Six-tenths of one percent of the median household wealth in America is about $477.

If you were an aspiring oligarch, wouldn’t you gladly devote six-tenths of one percent of your wealth to establish a permanent over-class of gazillionaires to lord over We the Peasants forevermore?

That’s what the Koch Brothers and their ilk are doing. For the equivalent of what it might cost you or me to buy a new smartphone.

Elect Romney - Ryan and you will get what the Koch brothers are paying for - an oligarchy.

If you remember nothing else, remember this: Whether you are a Democrat, Republican,  Independent, Tea Bagger, Conservative (Christian or otherwise) the oligarchs don't give a rat's ass about you.

1 comment:

  1. In addition, who is planning Romney's energy policy? Harold Hamm of Continental Resources and the other oil oligarchs who gave Mitt over $10 million in August, of course. It's the Cheney revival!