How rich people benefit everyone

Don Boudreaux writes to the Washington Post:

It’s unclear if your post.tv episode “Here’s how you support the Kochs” is meant to condemn or to praise Charles and David Koch. I’ll give you the benefit of the doubt and assume the latter – in which case I applaud you for recognizing and making clear that the Koch broth​ers earn their fortunes by producing useful products enjoyed daily by millions of ordinary Americans

(HT: Mark Perry)

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16 Responses to How rich people benefit everyone

  1. .

    The great sin of the Koch Brothers is to donate to a number of causes besides the DNC.

  2. Andrew

    Can we have a similar article about Murdoch666 and Rinehart6666?

  3. Ant

    Look no further than the ruthless attack on the Koch Bros. by Harry Reid, his congressional Democrat mafia and their enablers and facilitators in the liberal media to see just how off-the-rails and corrupt the American Left have become.

    It is truly a sight to behold – these useless stuff-shirted pissants who’ve never produced a single product or service of any bloody use to anyone pass judgment on a couple of wealthy US citizens and demonise them because they contribute to organisations who express concern about the hard left direction their country has been yanked by their assclown president and his miscreant administration.

  4. Gab

    Ever notice how the leftards never bitch and moan – and vilify – about the rich who are of the left?

  5. Andrew

    Quite so, Gab. Murdoch666 starts with a paper with approximately the circulation of the Liverpool-Fairfield Champion, builds it into one of the biggest companies in the world over 60 years, generates vast wealth for ASX investors (including those nice Industry Funds), occasionally agrees with 70% of the population that the hapless Gillard govt was dreadful, and it’s the end of the world. But Graeme Wood not only owns a meeja masthead (and most of the usual suspects), but actually owns the Greens – and Simon Shriek went within 1000 votes of fraudulently using his “independent” meeja empire to parachute him into a Senate spot via the Greens – nothing to see here.

    Soros – associated with more organisations that physically nauseate me than Lee Rhiannon – doesn’t attract any publicity but if Koch gives $500k to Heartland to help respond to the bizarre lies of the carbonistas, that’s the end of the world.

  6. Toiling Mass

    Lefties like to pretend that there is a great zero-sum and all the wealth of the wealthy has been taken from the poor.

    Of course, it doesn’t really explain how the total of human wealth in the palaeolithic, possessed by a few tens of thousands of people, is now spread among 7 billion and still have people with the fortunes of Bill Gates and Gina Rinehart.

    Unless, of course, those rock-banging cave-dwellers were somehow rich beyond the dreams of avarice.

  7. Anne

    Harry Reid is Wayne Swan in a better suit.

  8. Anne

    These guys sound amazing. If only government would get out of the way. Imagine the inspiration, drive and entrepreneurial creativity that might flow if the dead hand of government were lifted from our shoulders.

    The narrator forgot to say that the Koch’s taxes provide the salaries of every public servant wandering the halls of Capital Hill and the White House.

  9. stackja

    There are the good rich who help the left and there are the bad rich who help the non-left.
    Armand Hammer From Wikipedia
    Hammer’s association with the Gore family

  10. Stateless, free and happy

    How rich people benefit everyone?

    Many rich people do of course generate wealth. Others merely appropriate it from those that produce.

    Arafat was a rich person but …..

  11. Anne

    Yes, SFH. I agree. Arafat was not a business person generating wealth. He was more like say, a politician with a Union background who appropriated funds from members for his own personal use.

  12. LABCR-TV

    I agree that rich people can be of benefit to everyone. They have the intelligence to see opportunities and capitalise on them. Employment is an obvious benefit.

    However, there are those rich people who have become that way by working the system. Eddy Obeid and his bed mate McDonald point to this. They could hardly be classed as a benefit to society.

    However, my initial reaction to seeing this headline was; Show us an alternative story on how the rich can corrupt everyone.

  13. tomix

    O/T, almost rags to riches story of Sir Peter Tapsell from the Daily Telegraph.

  14. Abu Chowdah

    Many rich people do of course generate wealth. Others merely appropriate it from those that produce.

    And here you have struck upon the key difference between entrepreneurs (as discussed in the cited letter) and thieving bureaucrats and politicians. Well done.

  15. Paul

    Wow. The Koch Brothers must be Saints because they produce things we want. Gatekeepers abound.

  16. betapug

    The Kochs money comes from businesses employing 40000. Soros made his 20 billion in currency speculation and hedge funds. Kochs support 200 US universities, Lincoln Center for the Performing Arts, the flagship Nova science series and other programming on the mostly lefty Public Broadcasting System and are major sponsors of medical research. The co-ordinated Left-Hate against them is thought to originate with the Soros network.

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