Corporatism

More Reports of Foreign Money Polluting Right Wing Campaigns

A few weeks ago Lupatifer passed on reports of the documented flood of foreign money being funneled into the right wing Chamber of Commerce's campaigns which the Chamber has directed mostly at pushing the right wing's corporate agenda and which has resulted in more recent allegations of threats of violence by the Chamber of Commerce and directed at the watchdog groups tracking the foreign money flood.

Now, we have more reports of foreign money polluting and distorting the American campaign process:

European Polluters Funding Senate Candidates Who Oppose Action On Global Warming

As the Wonk Room has extensively documented, nearly all of the Republican candidates for Senate — both incumbents and challengers — dispute that the United States must take action to fight global warming pollution, while many of them deny that global warming exists in the first place. “There is much debate in the scientific community as to the precise sources of global warming,” claims Pat Toomey, the GOP Senate candidate in Pennsylvania. “Global warming is ‘the greatest hoax ever perpetrated on the American people,’” says Sen. Jim Inhofe (R-OK).

It remains to be seen if that stance will pay off at the polls, but for many of these global warming deniers, it already has paid off in the form of sizeable donations from overseas polluters. A new analysis by Climate Action Network Europe has found that large European companies that are among the continent’s biggest greenhouse gas polluters have been dumping large amounts of money into U.S. Senate races, almost exclusively to candidates that oppose the idea of taking action to stop global warming.

ThinkProgress has already documented how money from foreign oil companies is being directed to the U.S. Chamber of Commerce, which is running a $75 million ad campaign against Democratic candidates, and these direct candidate contributions from European polluters exceed the amount that oil billionaires Charles and David Koch have donated to Senate campaigns.

Even odder, given the fringe Tea Party's ranting and raving about the "evuls of Europe" and conspiracies of "New World Orders"?

These rich European polluters are directing their money towards Tea Party Candidates, as well:

How Can Tax Cuts Make This Pile Of Money Trickle Down?

They've got their massive piece of the pie... And they want more.

Corporations Sitting On $1.84 Trillion Cash

From last month: U.S. Firms Build Up Record Cash Piles,

U.S. companies are holding more cash in the bank than at any point on record, underscoring persistent worries about financial markets and about the sustainability of the economic recovery.

The Federal Reserve reported Thursday that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952.

The problem is reduced demand. Continuing unemployment means that the economy is not producing demand, so businesses are not willing to risk investing in meeting demand, which means they are not hiring, which means unemployment continues.

Seriously? They are already hoarding vast sums of money - probably trying to figure out how to offshore it with our jobs too - and the GOP plan, the highly desired plan of corporations and the their rich owners, is giving them more with tax cuts for the listless elites. That will just be a bigger welfare check than the ones we already floated Wall Street for doing absolutely nothing to fix the disaster they created.

Meanwhile, the screech of the typical village idiot corporate shills and deficit peacocks is getting shrill:

Abe Lincoln: when "Corporations have been enthroned" a chilling prediction coming true

I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless."

-- U.S. President Abraham Lincoln, Nov. 21, 1864
(letter to Col. William F. Elkins)
Ref: The Lincoln Encyclopedia, Archer H. Shaw (Macmillan, 1950, NY)

ratical.org

Bold text added by the diarist


(Note: The authenticity of this quote has been disputed, but I believe it is worthwhile to discuss nonetheless. The link I have provided is my proof of the validity of this quote, but I leave it to you, the reader, to decide.)

Almost 150 years later . . .

More below the fold

Crude Awakening To A Slippery Slope