• Who are the Koch brothers? In what has to be one of the best senses of timing ever, The New Yorker just put up a lengthy article about Charles and David Koch, multi-billionaires, the owners of Koch Industries, and two long-time libertarian leaners who back the Americans for Prosperity organization, which has been something of a root backer of the Modern Tea Party movement. And thanks to a just-filed IRS complaint regarding the ad series above, we’ll be hearing more about the Koch Brothers in the next couple of weeks.

• longtime libertariansThe brothers have deep roots in the libertarian movement, and David Koch actually ran for vice-president 30 years ago. The brothers found the process wasteful, and decided to work behind the scenes instead. So they ended up underwriting the libertarian movement. Then the Tea Party came along.
• Very hands-offUnlike other big financial backers of political leaders like George Soros, they go out of their way to be hands-off from what their money does, and instead let the money do the work. While they’re very active in the philanthropy community, their Americans for Prosperity work does not bear their signature.
• Tax-exempt statusAmericans for Prosperity is in a bit of trouble right now because they’ve been running ads that are inherently political in possible violation of their tax-exempt status, which says their work has to be nonpartisan. The organization says that their work is protected by the first amendment. source

Posted by Ernie Smith • Permalink