This move by the Chamber of Commerce isn’t that shocking. I had wondered if Rand Paul’s free market principles would keep him from being attacked. But that’s not enough for the Chamber of Commerce. [Note: I somehow put “Ron Paul” in the title of this post and didn’t see my mistake even though I checked it several times! Sorry for the confusion. I know the difference in theory but my brain seems to constantly trip me up in practice.]
From CNN Money:
Big Business took a swipe at tea party darling Senator Rand Paul for blocking confirmations of board members to the Fed.
The seven-member Federal Reserve, which includes chief Janet Yellen, is short of three board members. A fourth seat will open up on May 28th, when board member Jeremy Stein steps down.
“The Federal Reserve needs those positions filled now with suitable individuals,” wrote Chamber Deputy Chief Economist J.D. Foster in the post. “Senator Paul should make his point, and then allow the Senate to work its will.”
It’s just the latest sign of a louder, even more politically involved Chamber, which is expected to spend $50 million during the 2014 mid-term elections.
The group, which represents the largest U.S. businesses, is increasingly taking on tea party candidates within the Republican Party.
At the Republican primaries being held Tuesday, the Chamber has spent $4 million to defeat tea party challengers in Idaho, Georgia, Kentucky and Oregon, according to a source familiar with the spending. (Spending records won’t be released until after the election).
The Federal Reserve is the engine of income inequality for the United States. The Democrats are constantly claiming that the free market produces the income gap. The effects of the Federal Reserve’s corruption of our economy give them endless fodder for demanding higher taxes on businesses and higher minimum wage laws. Those “fixes” do nothing to actually stop the income gap. It is noteworthy that many leaders in the business world are fine with both those things. They would rather bribe the American people to be content in the welfare state than lose the stream of income given to them through the Federal Reserve. Think of minimum wage laws, higher taxes on upper incomes (typically the upper middle class, not the truly wealthy), and food stamps as the suicide nets a rich sweatshop owner puts around his factory.
Ever since the government “shutdown” the Chamber of Commerce has panicked over the fact that the tea party truly wants to end government corruption and reduce government spending. To oppose government corruption and deficit spending is to oppose the predominant business model of the leading members of the Chamber of Commerce.
The Chamber of Commerce is on the march. This attack on Rand Paul is one of many such assaults.