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Thursday, November 03, 2005

Wichita’s Koch Industries: home of the campaign financing $lush kings



Wichita’s Koch Industries: home of the campaign financing $lush kings
The Center for Public integrity has made some important observations on Wichita’s own Koch Industries and their ability to buy elections. Among the findings:
“Koch Industries (pronounced "coke") is a huge oil conglomerate controlled by brothers Charles and David Koch, two of the country's richest men and among the biggest backers of conservative and libertarian causes. With estimated revenue of about $40 billion last year, Koch is bigger than Microsoft, Merrill Lynch and AT&T.
Koch is the leading campaign contributor among oil and gas companies for the 2004 election cycle, giving $587,000 so far. Next came Valero Energy at $568,000.”

And of course as we follow Todd Tiahrt’s slush trail, we find a close nit relationship between the congressman and Koch. See The Idiot Factor: Todd Tiahrt's folly.
Nothing illegal is happening here. Koch knows the loop-holes around the law. According to the article:
“Koch has also discovered the newest trend in campaign financing, so-called 527 committees.
Named after the section of the Internal Revenue Service code under which they're organized, these political committees can raise unlimited amounts of money to influence elections. They are also allowed to claim tax-exempt status as political committees while at the same time avoiding regulation by state or federal election authorities.”

2 comments:

Chris was Anon said...

Why don't you delete these spam comments Otto!

Best!

Chris was Anon said...

Furthermore why don't you enable your blog so that it won't accept these spam bots?

Only a suggestion.

Chris was Anon