Charles Koch responds to Warren Buffett: My investments more beneficial to society than taxes

By Eric W. Dolan
Sunday, August 21, 2011 13:19 EDT
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Charles Koch, co-owner of energy giant Koch Industries, has responded to Warren Buffett’s assertion that the “billionaire-friendly” Congress had been “coddling” the rich for too long.

Buffett, the third wealthiest person in the world as of 2011, called for the U.S. government to “get serious about shared sacrifice” in New York Times op-ed published in mid-August.

“While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks,” he said.

Charles Koch who, along with his brother David Koch, has long championed libertarian and free-market policy, including helping the tea party movement get off the ground, felt the need to respond.

“Much of what the government spends money on does more harm than good; this is particularly true over the past several years with the massive uncontrolled increase in government spending,” he said in a statement posted on Kochfacts.com. “I believe my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington.”

As the liberal blog ThinkProgress noted, many of his “non-profit investments” include donations to libertarian and conservative groups that reflect his beliefs. The stated goal of the charitable foundation he founded is “to advance social progress and well-being through the development, application, and dissemination of the Science of Liberty™.”

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
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