Thursday, December 4, 2014

Koch's oppose GOP Tax Break Extensions...that might benefit competitors.

This was a shocker:
"Kochs Lobby Against Tax Breaks for Koch Industries"
But there's a method to their madness. Below, you'll find out the tax breaks don't just help the Koch's, but it also helps those young, up and coming challengers to Koch's Industries. The Koch's are wealthy enough to ditch the tax cuts and keep newer companies, large and small, from getting even a little of their action with government help:
FreeBeacan: The company owned by billionaire philanthropists Charles and David Koch, as well as groups frequently associated with the fraternal libertarians, are pushing Congress to let 55 tax breaks expire, including several that provide billions in tax relief for corporations such as Koch Industries. “We oppose ALL subsidies, whether existing or proposed, including programs that benefit us, which are principally those that are embedded in our economy, such as mandates,” wrote Philip Ellender, president Koch’s government affairs division, in a Wednesday letter to members of Congress. The company sees federal tax preferences in general as economically harmful.
Here's the key reason why:
“They are wasteful and market distorting, and allow other firms to run businesses that aren’t making money any other way.”

Like Koch Industries, American for Prosperity said, “we oppose corporate cronyism of all forms.” AFP is encouraging lawmakers to vote against the full package of tax extenders.  

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