Six Astounding Examples of Left-Wing Hypocrisy

July 18, 2014

Remember, kiddies: It’s “do as I say, not as I do.”

International Liberty

Last month, I nailed Bill and Hillary Clinton for their gross hypocrisy on the death tax.

But that’s just one example. Today, we’re going to experience a festival of statist hypocrisy. We have six different nauseating examples of political elitists wanting to subject ordinary people to bad policy while self-exempting themselves from similar burdens.

Our first three examples are from the world of taxation.

Here are some excerpts from a Washington Timesreport about a billionaire donor who is bankrolling candidates who support higher taxes, even though he structured his hedge fund in low-tax jurisdictions specifically to minimize the fiscal burdens of his clients.

Tom Steyer, the billionaire environmental activist who is spending $100 million to help elect Democrats this fall, is rallying support for energy taxes that could impact everyday Americans. But when he ran his own hedge fund, Mr. Steyer sought to help wealthy clients legally avoid paying…

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Keystone pipeline rejection a product of crony capitalism?

January 24, 2012

As they say, Hmmm…

Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp.’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc., said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.

Buffett, aside from being a master investor (1), is also a big supporter of Barack Obama and famously demanded to be taxed at a higher rate, even though a) he can voluntarily pay as much as he wants, and b) his company owed a billion in back taxes as late as last year. (2)

Now, I’m more inclined to think Obama killed Keystone to pander to the enviro-whacko Left, but he’s also shown no restraint about using the power of the federal government to help his buddies. (Solyndra? LightSquared? The UAW?)

As Artie Johnson would say, “Verrryyy Interesting!”

Footnotes:
(1) Seriously. If you invest for yourself, his letters to shareholders are must-reading.
(2) Economist Daniel J. Mitchell has called Buffett “innumerate” for his opinions on taxes.

(Crossposted at Sister Toldjah)


#Occupy the Department of Energy! Or, loans for Russian billionaires?

October 27, 2011

I must’ve missed the memo announcing the rebirth of the Friends of Angelo program under the aegis of the Department of Energy.  Under the leadership of Secretary Chu (Like his boss, a Nobel Prize winner. Be impressed.), the DoE has fast-tracked and awarded loans with preferential terms (1) to a failing “Green” energy company, Solyndra; a “Green” car company, Fisker, which plans to make its cars in Finland, when they get around to actually making the cars; and another “Green” automaker, Tesla, which builds Gaea-friendly cars for the elite one-percent. And on which Tesla loses money.

All these loans, totaling about $1.5 billion taxpayer dollars, were doled out to companies with connections to big donors to the Democrats and Obama. (See also.)

But this one has to be the cake-topper — $730 million to a Russian billionaire:

Another controversial U.S. Department of Energy “green” loan is coming under scrutiny.

Last July the Obama administration issued a $730 million low interest “green” loan to Russia’s second largest steel company, whose chief executive is a Russian tycoon personally worth $18 billion and who has close ties to Russia’s Vladimir Putin.

An influential House oversight chairman is now questioning why taxpayer funds from the Department of Energy are being used to assist the highly capitalized foreign-based steel company.

The DOE renewable energy loan was awarded this summer to Severstal North America to produce high strength steel at its Dearborn, Michigan facility. Steel is not in short supply in the United States and current U.S. steel plants are operating under capacity.

The DOE loan is part of a controversial $40 billion renewable energy loan program organized under its Advanced Technology Vehicle Manufacturing Program  called ATVM.  The program is supposed to help financially starved companies in the green auto manufacturing field by providing taxpayer-supported low interest loans.

As PJM’s Richard Pollock points out, the billionaire, Alexei Mordashov, is the 29th richest man in the world. Mordashov’s company, Severstal, recently made $1.2 billion from the sale of several steel mills in Ohio and other states. He could finance Dearborn plant out of his own pocket and still have enough left over to buy his own miniature giraffe. (2)

And then there’s the question of why Severstal, a fully-capitalized company that’s neither in the auto or “Green industries,” qualifies for loans meant to help “green auto manufacturing.”

Why, if I were a cynic, I might suspect some sort of a payoff here.

Nah. I must just be a RAAAAACIST!! and a hater. Or something.

Footnote:
(1) Read: “They get the gold mine, the taxpayer gets the shaft.”
(2) I love that commercial.

(Crossposted at Sister Toldjah)


At least the Solyndra loan was wasted *in* America — Updated

October 20, 2011

Over $500 million taxpayer dollars to subsidize a “Green” car  — made in Finland:

With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.

Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland.

“There was no contract manufacturer in the U.S. that could actually produce our vehicle,” the car company’s founder and namesake told ABC News. “They don’t exist here.”

Henrik Fisker said the U.S. money so far has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive.

Money is fungible. You can bet the taxpayer-funded loan dollars spent here freed up resources to be spent in Finland.

And, gee, want to guess how this company had such an easy time getting the taxpayer-funded loan?

Connections help:

One of Fisker’s biggest financial supporters, records show, is the California venture capital firm Kleiner Perkins Caufield & Byers. The firm financially supports numerous green-tech firms, records show.

Kleiner Perkins partner John Doerr, a California billionaire who made a fortune investing in Google, hosted President Obama at a February dinner for high-tech executives at his secluded estate south of San Francisco. Doerr and Kleiner Perkins executives have contributed more than $1 million to federal political causes and campaigns over the last two decades, primarily supporting Democrats. Doerr serves on Obama’s Council on Jobs and Competitiveness. Doerr has not replied to interview requests since March.

Former Vice President Al Gore is another Kleiner Perkins senior partner. Gore could not be reached for comment.

“Their major venture investor is Kleiner Perkins, who has Al Gore as a partner and is certainly politically connected in general,” said industry observer Sexton. “Whether that played a role or not is up to the DOE to explain.”

So, in return for some donations, Fisker receives several hundred times that in taxpayer-funded loan for a car that no one has even seen yet. Sweet deal, that. I’m sure the project was approved solely on the merits.

And I’m the King of Spain.

Read the whole thing. There’s another “green” car firm involved. Add in their loan, and were talking nearly a billion. Maybe theirs is at least “made in America.” And I wonder what all of Obama’s union buddies think of this?

“Chicago on the Potomac” doesn’t cover half of it.

via Sarah Palin

UPDATED: Sweet! Fisker’s gas-electric hybrid gets a whopping 20 miles per gallon in gasoline mode — less than the Chevy Volt! And for this we forked out more the $500 million. Way to go, President “We Got Every Decision Right!


Big Green and the enviro-statist agenda, part 2

October 6, 2010

Last week, PJTV presented the first in its three-part series on the politics of the environmental movement, presenting an overview of its goals and its relationship with government, particularly the Democratic Party and the administrative state.

This week, Joe Hicks and his guests take a closer look at the origins of the movement in the 1960s left-wing counterculture,  the large sums of money they have to spend, and their alliance with big business* to push harmful measures such as cap-and-trade:

*(Don’t be surprised. As Goldberg pointed out in Liberal Fascism, there’s a natural urge in big corporations to ally with statists if if means guaranteed profits and restrictions on smaller competitors. Think of the utilities under FDR, or the deals the big insurance and pharmaceutical companies almost cut with the administration over ObamaCare. The cooperation between Big Green and Big Business highlighted in this video is just another example.)

(Crossposted at Sister Toldjah)