Sunday, April 20, 2008

Fortune 100 Foundations Lean far to the Left

From article summary: "Although many believe selfinterested corporations lavish funds on politically conservative groups, it just isn’t true. A painstaking analysis of tax returns for Fortune 100 foundations reveals the nonprofits overwhelmingly favor groups that push for bigger government and tougher regulations." Of the 53 nonprofits of the top 100 which donated or funded political causes or candidates, the ratio was 14.5:1--$59 million for the left, and $4 million for the right. Read the story here

If this defies common wisdom (not to mention common sense), there must be a reason. As in most things--you only need to follow the money. Or follow the banker or CEO into the halls of the Senate. They give to left leaning, pro-big-government politicians because the regulation or influence will hurt their competition. Why would big oil or big automaker or big lumber be funding and supporting environmental issues that on the surface would seem to be anti-business-as-usual. Well, obviously, it's the small guy with fewer resources and smaller R & D budget who will be hurt, not the mega-behemoths of industry.

La Raza, for instance, which wants the Southwest returned to Mexico in fact if not in treaty or out and out war, is one of the biggest beneficiaries of the wealthy foundations of the top Fortune 100 companies. Now why do you suppose big business has a stake in keeping wages down through illegal immigration? Hmmmm. Banks also are heavily investing in Hispanic causes, which tend to be sympathetic to amnesty and illegals. James Dimon, CEO of JPMorgan Chase, has made political contributions to high-profile Democratic lawmakers and candidates, including New York Senator Hillary Clinton and Illinois Senator Barack Obama, and extremely small amounts to a few Republicans (I'm betting they are RINOs). The JPMorgan Chase foundation gave 2.6% of its giving dollar to political causes, all of which were on the left.

So the next time you read or hear a whiny liberal or progressive legislator, journalist, academic or bloggers moaning about the conservatives being so rich, look for those crossed fingers behind their back or keyboard--just 'taint so.

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