When corporations make “donations” they mean to buy politicians. There can be no doubt.
If you have any doubt that businesses expect to buy politicians when they give them cash, this Politico headline should make you see reason: “Boeing, GE cut off donations to Ex-Im foes.”
When House Majority Leader Kevin McCarthy headlined a fundraiser in early June the room was packed with defense industry lobbyists, but reps from one megacontractor were missing — Boeing.
Not only was Boeing absent at that fundraiser, the contractor has cut off all political contributions to the No. 2 House Republican over his support for killing the Export-Import Bank, which facilitates billions of dollars in low-interest loans to U.S. exporters like Boeing. General Electric, also a major supporter of renewing Ex-Im and a benefactor of the agency, has followed suit and has not contributed to the California Republican this year. They each gave McCarthy the maximum $10,000 during the 2014 election cycle.
Combined, Boeing and GE have halted political contributions to more than a dozen Republican lawmakers opposed to reauthorizing the bank, after cutting checks to those lawmakers during the 2014 election cycle, according to a POLITICO analysis of Federal Election Commission records. And an additional 17 Ex-Im opponents that received contributions in 2014 from one of GE’s political action committees have gotten nothing this year from either company.
So what does that tell us about all the politicians that are still getting checks from Boeing and General Electric? It tells us they are bought and paid for. They should be forced to wear the logos of Boeing and General Electric, their corporate sponsors.
It also tells us that the Ex-Im Bank is, indeed, a source of welfare for corporations. The only reason they would make such a brazen and shameless move is because they desperately want the taxpayer help. They are paying out money because they expect to get more money from the government.
McCarthy has long been a vocal opponent of Ex-Im, arguing that the private sector should be able to underwrite loans for companies looking to sell their goods abroad.
But the “private sector” doesn’t want to be private at all. It wants to be backed by the taxpayers. Corporations are our biggest champions of socialism—at least socialized risks. I suspect they hope to keep most of the profits private.