Daily Archives: March 22, 2011

Campaign for America’s Future: Koch And Native-American Reservation Oil Theft

March 20, 2011- Just what is this Koch Industries? Should it be called a "company?" If so we need to re-think the idea of what a company and a business is supposed to be. Even the brother of Koch Industries owners David and Charles Koch called the company an "organized crime" operation.

Koch money is a key driver of the conservative movement. Almost every conservative-movement rock you turn over has Koch money crawling around under it. As the movement becomes more and more of a pay-to-play operation, conservatives of every stripe do more and more to protect and enrich the Koch operation. This has included blocking, disrupting and avoiding official investigations of accusations. It also includes funding front groups to advance the political and financial interests of the company and its owners.

Theft Of Oil From Reservations

Oppose The Future has the story of how Koch Oil was caught stealing oil from an Indian Reservation, reducing or removing the incomes of so many poor residents.

Think Progress: As Tea Party Koch Brothers Earned An Extra $11 Billion In Recent Years, They Laid Off Thousands

February 1, 2011- David and Charles Koch, co-owners of Koch Industries and primary financiers of the Tea Party, have amassed one of the world’s largest private fortunes and Koch Industries is the second largest privately held company in America. Koch sycophants in the media have attacked anyone daring to criticize the company because Koch Industries employs nearly 50,000 people, according to a study produced by Koch Industries last week. In the last two years, David and Charles Koch have jumped from each being worth $16 billion to now being worth $21.5 billion. That means together they went from being worth $31 billion dollars to being worth $42 billion today. David is now the richest man in New York City, and the pair are now on the nation’s top ten list for richest Americans.

However, at a time when the Koch brothers were enjoying spectacular financial gains, Koch Industries laid off well over 2,000 people. Using the same approximate “jobs multiplier” Koch Industries used in its study last week, that means Koch Industries extinguished nearly 8,000 jobs in recent years:

Think Progress: Meet Mike Pompeo: The Congressional Candidate Spawned By The ‘Kochtopus’

September 21, 2010- Over the weekend, the Kansas City Star published a lengthy article explaining how Sen. Sam Brownback (R-KS), the Republican gubernatorial candidate in Kansas, has for years maintained a symbiotic relationship with the right-wing oil plutocrats David and Charles Koch and their conglomerate Koch Industries. Alongside Brownback in the Senate, Koch Industries, which is based in Wichita, has counted outgoing Wichita Rep. Todd Tiahrt (R-KS) as one of its closest allies in the House of Representatives.

Think Progress: REPORT: How Koch Industries Makes Billions By Demanding Bailouts And Taxpayer Subsidies

March 1, 2011- Koch Industries, the international conglomerate owned by Charles and David Koch, is not only the second largest private company in America, it is the most politically active. As ThinkProgress has carefully documented over the last three years, Koch groups have spent tens of millions to influence government policy — from financing the Tea Parties, to funding junk academic studies, to undisclosed attack ads against Democrats, to groups promoting climate change denial, to a large network of state-based and national think tanks. In an opinion column for the Wall Street Journal today, Koch Industries CEO Charles Koch fired back at his critics, who have grown more vocal as it has become clear that Koch groups are providing the political muscle for Gov. Scott Walker’s (R-WI) union-busting power grab.

Think Progress: Corporations Push To Revive Tax Break That Incentivizes Them To Stash More Money Overseas

March 21, 2011- A group of multinational corporations have been undertaking a quiet lobbying campaign in an attempt to goad Congress into approving what it known as a tax repatriation holiday. Such a holiday would allow these corporations to bring money they have stashed overseas back to the U.S. at a dramatically lower tax rate. Usually, repatriated money is subject to the statutory U.S. corporate tax rate of 35 percent, and remains untaxed until it comes back to the U.S.

The corporate case for this tax break is that it will bring a flood of capital into the U.S. that will be spent on domestic investment and job creation. 2012 Republican presidential contender Mitt Romney is pushing the policy by making similar claims. However, research into a previous repatriation holiday — enacted by Congress in 2004 — shows that it did not deliver the promised returns in terms of investment or job creation, instead going to line the pockets of corporate executives.

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