Skip to main content

A few weeks ago, it was reported that some right-wing rich guys' club had pledged $100 million to defeat President Obama. The Koch Brothers led the way, pledging $60 mil. Which is pocket change, when your net worth is $50,000,000,000.00.

Leaving aside the obvious issue – the estate tax – I'm puzzled as to why all those right-wing rich folks feel that way. The foundation of their wealth – the stock market – has performed vastly better when Democrats have been in charge.

In 2008, the New York Times reported that since 1929, $10,000 invested in the stock market under Democratic Presidents (over 40 years) had become $300,671. Meanwhile, $10,000 invested in the stock market under Republican Presidents (over 35 years) had become only $11,733.

Well, at least the affluent caste didn't lose money during Republican regimes, right? Wrong. The value of the dollar dropped by 92% during that period. So in real value, $10,000 invested in the stock market under Republican Presidents actually became just $955. And forty-six cents. In economic terms, roughly the same effect as some foreign enemy blowing up 90% of our factories, warehouses, farms, malls, office buildings, apartment buildings, and every other productive asset.

Poor rich people. All the money gone. Those darned Republicans.

And under President Obama, the difference actually has increased, dramatically. On the day that President Obama was sworn into office, the S&P 500 index closed at 805. Today, it's at 1,321. Under President Obama, the stock market is up 64%, in less than four years.

That brings the Democratic average annual stock market performance up to 10%. The Republican figure is 0.4%. No wonder Republicans hate government – they're so bad at it. Particularly when it comes preserving national wealth.

And despite the incessant whining of the corporate rich, by no stretch of the imagination are they suffering under the Obama Administration. Just today, it was reported that pay for CEOs has reached an all-time high, just short of $10 million a year. Or roughly $5,000 an hour. Good work, if you can get it.

So why are all these right-wing deep pockets going after Obama and the Democrats? Even if you're some selfish rich guy, that's just dumb. That's cutting your wallet to spite your pants. Maybe the rich need to develop a little class consciousness.

Honestly, when you look at the facts, these robber barons spending huge wads of cash to get rid of the Democrats are like lemmings. They're all jumping off the money cliff, and they're taking everyone else with them.

Most of us have heard the question, "If you're so smart, why aren't you rich?" But a better question would be, "If you're so rich, why aren't you smart?"


Alan Grayson

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Alumbrados, Angie in WA State, nofundy, Sean Robertson, Chi, filkertom, dalemac, native, SaveDemocracy, Joan McCarter, am, Emerson, michael in chicago, Shockwave, Wintermute, cotterperson, eeff, bilge, freelunch, Voodoo, dash888, bookbear, doorguy, Bruce The Moose, bronte17, TravnTexas, fugwb, susakinovember, JuliaAnn, Clues, evelette, askyron, dylanfan, revsue, SneakySnu, TexDem, baxxor, QuoVadis, Calidrissp, eodell, lcrp, riverlover, Dave925, walkshills, randallt, sawgrass727, Gowrie Gal, Skennet Boch, kbman, maybeeso in michigan, historys mysteries, radarlady, 3goldens, Ckntfld, Unit Zero, qofdisks, revbludge, SherwoodB, KnotIookin, wallys son, dewtx, Brooke In Seattle, YucatanMan, owlbear1, PSzymeczek, skyounkin, Sandino, Isara, minidriver, sodalis, peacestpete, JanF, kathny, Oye Sancho, Reality Bites Back, third Party please, Orinoco, Patriot Daily News Clearinghouse, rcbowman, Kingsmeg, cybersaur, Russgirl, dopper0189, Krush, cookseytalbott, deha, luckydog, blueoasis, AnnCetera, NBBooks, philipmerrill, gooderservice, happy camper, NearlyNormal, Zwoof, myrealname, Dinclusin, onionjim, democracy is coming, CA Nana, blueoregon, kurt, Delta Overdue, Friend of the court, markthshark, krwheaton, Babylon, tegrat, anotherdemocrat, Cronesense, Habitat Vic, Haningchadus14, Deadicated Marxist, ColoTim, Positronicus, yoduuuh do or do not, DvCM, la urracca, david mizner, dclawyer06, Pengu1n, ca democrat, GMFORD, cececville, uciguy30, South Park Democrat, TomP, rmonroe, MKinTN, rogerdaddy, mconvente, Roger Fox, gfv6800, GAS, Youffraita, Involuntary Exile, Akonitum, jamess, monkeybrainpolitics, hwmnbn, dewley notid, temptxan, codairem, Soldier Boy, nzanne, psilocynic, Old Surgeon, palantir, dmhlt 66, toom, lissablack, statsone, divitius, clent, bluemoonfever, J M F, DontTaseMeBro, emboyo, greengemini, lostinamerica, Mislead, janmtairy, sweeper, petral, followyourbliss, elziax, bfitzinAR, Corneliusmingus, kevinpdx, sfarkash, Knarfc, Amber6541, David PA, estreya, piers, Polly Syllabic, Simple, ATFILLINOIS, NM Ray, gulfgal98, pixxer, SoCalHobbit, PvtJarHead, Egalitare, ThirtyFiveUp, albrt, ericlewis0, nosleep4u, dwayne, Glass Navel, All In, dot farmer, bluestatedem84, Bob Duck, vinny67, sfcouple, sabo33, henrythefifth, GammaRae, FarWestGirl, pbgv23, Nicci August, trumpeter, boomerchick, marleycat, Jasonhouse, KVoimakas, SueM1121, sofa turf, createpeace, Sark Svemes, chira2, Andrew F Cockburn, Solarian, zenox, imlpdx, StratCat, DRo, absdoggy, Only Needs a Beat, ridemybike, OldDragon, Heart n Mind, anodnhajo, Mindful Nature, pimutant, a2nite, rukidingme, Horace Boothroyd III, Lorinda Pike, This old man, rivercard, MartyM, Noddy, FrY10cK, ItsaMathJoke, Robynhood too, CalBearMom, Candide08, Jonathan Hoag, Lily O Lady, DamselleFly, Panacea Paola, ebailey, Illinois IRV, RerumCognoscereCausas, parsonsbeach, Homer177, helpImdrowning, LaraJones, Icicle68, missquested, Smoh

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site