Charles Koch: Why We're Against 'Crony Capitalism'

With the heat intensifying around him and his brother, conservative fundraiser/oil tycoon Charles Koch penned an op-ed piece today to explain himself. “For many years, I, my family, and our company have contributed to a variety of intellectual and political causes,” he writes in the Wall Street Journal. “Because of our activism, we’ve been vilified by various groups.” But because the deficit is so deeply important, Koch says they’ll keep “standing up for those politicians, like Wisconsin Gov. Scott Walker, who are taking these challenges seriously.”

Koch actually spends most of the piece decrying deficits, and crony capitalism. “Too many businesses have successfully lobbied for special favors and treatment,” like subsidies, mandates, and favorable regulations, he writes. But wait, doesn’t Koch Industries benefit from some of the $4 billion spent annually on oil subsidies? “Because every other company in a given industry is accepting market-distorting programs, Koch companies have had little option but to do so as well,” he allows. “However, even when such policies benefit us, we only support policies that enhance true economic freedom.” (More Charles Koch stories.)