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Friday, October 29, 2010

"Why Business Should Fear the Tea Party"

Robert Reich wonders why business leaders aren't more concerned about the tea party:

Why Business Should Fear the Tea Party, by Robert Reich, Commentary, WSJ: America's business leaders have not exactly shied away from offering political views ... which makes particularly curious the deafening silence of business leaders about the tea party that's now taking over the GOP and about to take over a chunk of Congress.
Maybe business leaders see it as a relatively harmless fringe group... Business leaders should take a closer look. ... By fueling the Republican surge in the midterm elections, the tea party has become the single most powerful force in the GOP. ...
At the least, business leaders who complain about uncertainties caused by Mr. Obama's policies might be concerned. John Castellani, the former head of the Business Roundtable ..., told Bloomberg Businessweek..., with remarkable understatement, "This kind of extremism makes it much harder to plan from a business perspective." ...
Underlying all of this is a deep tea party suspicion that big government is in cahoots with big business and Wall Street, against the rest of America. This has been the conventional view among leftist conspiracy theorists for years but it's now emerging full-throttle on the right.
Lesser known is that a higher proportion of tea party adherents believes that free trade agreements hurt the nation overall (61%) than does the general population (53%)...
History has shown that people threatened by losses of jobs, wages, homes and savings are easy prey for demagogues who turn those fears into anger at major institutions, as well as individuals and minorities who become easy scapegoats—immigrants, foreign traders, certain religious groups. ...
Business leaders should be standing up to this dangerous idiocy, while actively supporting policies to relieve the economic stresses that fuel it. Their silence in both regards is bad for business and threatens the stability of our economic and political system.

Aren't people like Rupert Murdoch, David Koch, and Charles Koch providing major backing for the Tea Party?

    Posted by on Friday, October 29, 2010 at 01:11 AM in Economics, Politics | Permalink  Comments (39)


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