Powerful Billionaires in the US Political Landscape

The U.S. Senate Majority Leader Harry Reid criticized two brothers in a family business on March 4. Reid also censured them on Feb. 28 for their “un-American” behavior. It is quite rare for the leader of the U.S. Senate to repeatedly rebuke nonpoliticians through the Senate’s public statements. Reid’s target was the Koch brothers.

Charles Koch, 78, and David Koch, 73, major shareholders of Koch Industries, are ranked sixth on the world’s billionaires list by Forbes Magazine. Their property is known to be worth $40 billion.

“The oil baron Koch brothers are very good at protecting and growing their prodigious future and fortune. There’s nothing un-American about that. But what is un-American is when shadowy billionaires pour unlimited money into our democracy to rig the system to benefit themselves and the wealthiest 1 percent,” Reid said.

Reid blamed the Koch brothers for giving money to Republicans in order to spread conservative ideology. The Koch brothers supported tax-cut plans and small government, and obstructed environmental legislation that could affect Koch’s energy business. Many people regard the Koch brothers as the best financial resource for organizations such as the tea party and the Republican Party.

What Reid said shows that major funding from the Koch brothers is a threat to the Democratic Party. American media dubbed the Koch brothers public enemy number one of the Democratic Party.

However, the Democratic Party cannot criticize the Republican Party because the Democratic Party also gives power to billionaires in the political landscape.

Tom Steyer, a 56-year-old billionaire in California, plans to use $100 million for midterm elections, made up of $50 million from himself and donations from other Democratic donors. Since Steyer officially said he would provide money for candidates who support environmental legislation, most Democratic candidates will benefit.

Therefore, some people say that this coming midterm election will be a money game between the Koch brothers and Steyer rather than a political game between the Republican Party and the Democratic Party.

Regardless of ideology, it is one of the social ills of American democracy that billionaires can have such a great impact on elections.