Send a Tweet
Most Popular Choices
Share on Facebook 1 Share on Twitter 1 Printer Friendly Page More Sharing
General News    H3'ed 2/9/14

Vulture Fund Kingpin Is the Top Financial Backer of Republican U.S. Sen. Kelly Ayotte

By       (Page 1 of 1 pages)     (# of views)   1 comment
Author 85251
Message Eric Zuesse
- Advertisement -

Paul Singer, the billionaire head of the most aggressive vulture fund, Elliott Management, is the top financial backer of New Hampshire Republican U.S. Senator Kelly Ayotte. She recently introduced legislation to sock 4 million Latinos with an average tax-hike of $1,800.

Apparently, the Republican Party's "no new taxes" pledge doesn't prohibit tax-hikes against the poor -- only against the rich.

Singer has an interesting background. His firm had controlled the bankrupt Delphi Auto Parts company in 2009 when U.S. taxpayers were rescuing the U.S. automotive industry. Singer's people then told the U.S. Government that if they didn't buy them off to the tune or $12.9 billion, Delphi would shutter its factories, and the U.S. auto plants of GM and Chrysler would have no steering columns and other vital parts, which would mean that the entire rescue of GM and Chrysler would fail. So, Singer's people got the money they demanded from U.S. taxpayers: U.S. auto workers took the hit instead (in addition to U.S. taxpayers). 

One of Elliott Management's major investors then was Mitt Romney, the man who condemned the bailout of Chrysler and of GM, and who now walked off with "at least $15.3 million from the bailout--and a few of Romney's most important Wall Street donors made more than $4 billion. Their gains, and the Romneys', were astronomical--more than 3,000 percent on their investment," according to the great investigative journalist Greg Palast's account in the Nation, on 17 October 2012.

- Advertisement -

The Wall Street Journal has called Singer "one the biggest donors in the country now to the Republican cause," at $2.3 million of his own money in 2012 alone.  Additionally, he had donated more than a million dollars to the Koch brothers' bundling operation for far-right Republicans in 2011, a campaign season when the Kochs were bundling $400 million+ for Republicans. Roll Call reported, on 1 February 2014, that Paul Singer in the current political season has already given $1.25 million to the Republican Governors Association, while David Koch has given them only a paltry $250,000 -- just one-fifth as much.

Senator Ayotte's proposed bill would have increased the income taxes that undocumented workers already pay to Uncle Sam under an existing program that taxes the earnings of workers who lack a Social Security number. While Republicans admire vulture fund operators such as Singer, that Party wants to squeeze undocumented workers as hard as possible, in the hope that they'll go back to their country of origin.

Senator Ayotte's bill failed to pass, however, because it was proposed to be part of the Republican Party's price for extending long-term unemployment benefits, and not enough Republicans were willing to support extending those benefits, even if undocumented workers were to take a hit from doing it.

- Advertisement -

Senator Ayotte is considered to be a rising star in the Republican Party, and a possible 2016 Vice Presidential nominee. Her proposal to punish undocumented workers is thought by some to be a play for support by Republicans not only now but also looking forward to 2016.  

----------

Investigative historian Eric Zuesse is the author, most recently, of They're Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of  CHRIST'S VENTRILOQUISTS: The Event that Created Christianity.

 

 

 

- Advertisement -

 

 

- Advertisement -

News 2   Must Read 1   Well Said 1  
Rate It | View Ratings

Eric Zuesse Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Investigative historian Eric Zuesse is the author, most recently, of  They're Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010,  and of  CHRIST'S VENTRILOQUISTS: The Event that (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact EditorContact Editor
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

First Examination of Malaysian MH-17 Cockpit Photo Shows Ukraine Government Shot that Plane Down

Indications that the U.S. Is Planning a Nuclear Attack Against Russia

Harry Reid Effectively Kills Obama's TPP and TTIP International Trade Deals

MH-17 'Investigation': Secret August 8th Agreement Seeps Out

UPDATED -- Conclusive: 2 Ukrainian Government Fighter-Jets Shot Down that Malaysian Airliner.

The Propaganda War About Ukraine: How Important It Really Is