InvestorsHub Logo
Followers 72
Posts 100773
Boards Moderated 3
Alias Born 08/01/2006

Re: Matrix999 post# 277806

Tuesday, 03/20/2018 10:23:16 PM

Tuesday, March 20, 2018 10:23:16 PM

Post# of 481024
The three ultra-rich families battling for control of the Republican party

Written by Heather Timmons

Obsession "America First"
https://qz.com/on/america-first/

December 05, 2017

[...]

Shaking up the GOP after Obama

“If money could buy elections, Mitt Romney would have won,” was a familiar refrain among campaign finance experts and political strategists alike, after the wealthy former Massachusetts governor failed to unseat Barack Obama in the 2012 presidential race, despite outspending him by $110 million.

The Mercers, for years content to quietly donate to the Kochs’ political network, started to act alone after the Republicans’ failure to unseat president Barack Obama reportedly led Rebekah to decide (paywall) the Koch network was full of “fools.” The Koch brothers, stung by the 2012 election loss, doubled down on state races, while the Adelsons poured their money into a political action committee run by former George W. Bush chief of staff Karl Rove.

Romney’s loss had shaken the Republican party so deeply that then-party chief Reince Priebus spent months putting together a soul-searching policy paper (pdf) about the direction it should go, based on thousands of interviews. Most people think Republicans don’t care about Americans, it found, and the party needs to reach out to women, and minorities. It included advice that now seems unfathomably quaint, like (pg. 6):

-
The Republican Party must be the champion of those who seek to climb the economic ladder of life. Low-income Americans are hardworking people who want to become hard-working middle-income Americans. Middle-income Americans want to become upper-middle-income, and so on. We need to help everyone make it in America.

We have to blow the whistle at corporate malfeasance and attack corporate welfare. We should speak out when a company liquidates itself and its executives receive bonuses but rank-and-file workers are left unemployed. We should speak out when CEOs receive tens of millions of dollars in retirement packages but middle-class workers have not had a meaningful raise in years.
-

But America’s GOP oligarchs did not appear to have read the report. The congressional candidates that the three families have backed (sometimes together) bore little resemblance to that GOP prescriptive.

Instead, they helped launch a new era of even less compassionate Republicans that included a woman who thinks the UN is a conspiracy and wants to eliminate the minimum wage, and a former doctor who crafted a health-care bill that allow insurance companies to charge people with pre-existing conditions more.

[...]

Three Republican families, three visions

The influence of these three families offers a stark illustration of how extreme wealth can distort a democracy.

Each family is closely tied to the Republican leader of one branch of government: Robert, Diana, and Rebekah Mercer helped propel Trump’s bombastic rise to the White House. Industrialist brothers Charles and David Koch funded the Tea Party and its protege, House speaker Paul Ryan. And while casino magnate Sheldon Adelson and his wife Miriam Ochsorn are on the party’s more moderate wing, they have long stood behind the calculating, conservative Senate leader, McConnell, who even before the Tea Party’s rise was known as an extreme obstructionist (paywall), dedicated to stomping out the bipartisan compromises that historically made the US government work.

American historians see a titanic clash on the horizon.

The Adelsons favor pro-Israel policies. Despite their anti-regulation stance, they are keen to squelch the growth of online gambling, and want to support moderate Republicans with a chance of picking up swing voters.

The Koch brothers have funded and organized a vast network of libertarian think tanks and grassroots movements aimed at sowing distrust of “big government” and climate science, the better to benefit their massive fossil fuel-heavy Koch Industries. There are other Republican donors who have spent more money, but the Koch’s network gives them great influence.

The Mercers seem to hold the most extreme social views: Robert Mercer complained that the US started going in the wrong direction “after the passage of the Civil Rights Act in the 1960s,” according to a lawsuit filed by a former employee. He reportedly invested $10 million in 2011 into Breitbart, the news site run by one-time Trump adviser Steve Bannon, which regularly airs white-supremacist views. Early last month, Robert Mercer quit the hedge fund he worked at for years, and said he’d sold his stake in Breitbart News to his daughter, but he’s reportedly getting even deeper into politics.

[...]

American historians see a titanic clash on the horizon. What’s coming next is a battle between “the very idea of democracy, and that human beings are created equal” against the notion that power in America should be concentrated in the hands of a very few, very wealthy people, just as it once was in medieval Europe, predicts Heather Richardson, a history professor at Boston College and author of several books about the GOP.

With links - https://qz.com/1085077/mercers-vs-kochs-vs-adelsons-the-three-ultra-rich-families-battling-for-control-of-the-republican-party/

The Mercer family, the Trump family, and the NRA, in no particular order, are among the most
powerful and dangerous wolves in the American democratic (what's left of it) hen-house today.

Positive is the resilience of American democratic institutions. And the ability of the American people to recover from the Trumpetertee bleeeeeeep.





It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.