"The Billionaires' Long Game" by Robert Reich at the American Prospect [View all]
The Billionaires' Long Game
by Robert Reich at the American Prospect
http://prospect.org/article/billionaires-long-game
"SNIP........................................
But if you think these losses mean the end of high-stakes political investing, you dont know how these people work.
You see, if and when they eventually win, these billionaires will clean up. Their taxes will plummet, many laws constraining their profits (such environmental laws preventing the Koch brothers from more depredations, and the anti-bribery Foreign Corrupt Practices Act that Adelson is being investigated for violating) will disappear, and whats left of labor unions will no longer intrude on their bottom lines.
And they have enough dough to keep betting until they eventually win. Thats what it means to be a billionaire political investor: Youre able to keep playing the odds until you get the golden ring.
Looking ahead, Adelson tells The Wall Street Journal hes ready to double his 2012 investment next time around. I happen to be in a unique business where winning and losing is the basis of the entire business, he says, so I dont cry when I lose. Theres always a new hand coming up. ... I know in the long run were going to win.
........................................SNIP"