The Politics Of Big Business Is Business

The myth that "Corporate America" or "Big Business" in any way embrace or share a conservative political philosophy has been busted, smashed, dismantled, shattered, pummeled, and thoroughly shredded so many times that one would think it would long ago have been relegated to the ash bin of history. But since it continues to rear its distorted head with dismaying frequency, it's a welcome development when a new book comes out which once again refutes the oft-repeated fallacy.

From a review by Michael J. New in the August 7th edition of National Review:

The relationship between business and government is one of the most misunderstood in all of politics. Many people reflexively assume that wealthy corporations conspire with Republicans to cut taxes and loosen regulations. The reality is far different, as close observers of politics know: Big businesses almost always prefer favors to free markets. Hence, big business eagerly works with both parties to ensure a steady stream of narrow tax breaks, subsidies, and countless other forms of corporate welfare. In "The Big Ripoff," investigative reporter Timothy P. Carney neatly documents the countless ways big business has succeeded in plundering state and local governments, hurting consumers and taxpayers in the process.

The first part of the book deals with the relationship that wealthy individuals and big business have with fiscally liberal officeholders and the Democratic party. Carney demonstrates that corporate PACs frequently give large donations to Democrats, and even larger donations when Democrats hold political power.

Additionally, during the most recent election cycle, nearly all of the multimillion-dollar contributions went to groups that supported Democrats and other liberal causes. Perhaps the most striking illustration of the cozy relationship between big business and the Left is that Barbara Lee, the only member of Congress to vote against military intervention in Afghanistan, receives more in corporate contributions than does Ron Paul, the most libertarian member of Congress.

In subsequent chapters, Carney demonstrates the benefits business reaps from these big contributions. He shows, for example, how large donations to both parties from the agribusiness Archer Daniels Midland keep federal ethanol subsidies flowing. Another culprit is Enron, which--despite its frequent proclamations in favor of free markets--eagerly supported regulation in California and elsewhere that benefited Enron at the expense of its competitors.

The Big Ripoff: How Big Business and Big Government Steal Your Money definitely sounds like it deserves a spot on the old bookshelf.