Billionaires Vs. the Curious Case of the Osborn/Fischer Senate Race

Can Authenticity Ever Beat Big Money – We’ll Know Soon!

Sometimes I can’t help but feel the sheer darkness of the comedy of our upside-down world in the US when it comes to billionaires and elections right now. It feels like watching a video of old tattered early 1900s-style political cartoons and photos with corporations hovering as overlords over members of Congress.

A that time, the executives of those companies were often called “Robber-Barons”, because of their unethical, sometimes illegal and always ruthless behavior.

• Included in the list of so-called robber barons are Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller.

• Robber barons were accused of being monopolists who earned profits by intentionally restricting the production of goods and then raising prices.

The folks we called robber barons in the early 1900s during industrialization, are now known as unscrupulous billionaires. For the record not all billionaires are unscrupulous, but I think almost all of us can agree there is a great deal of inequity and unfairness in the economy, driven by extreme greed.

So, the question is: were the Carnegies, Vanderbilts and Rockefellers who bribed and schemed their way to favor with Congress allowing them to create monopolies, terribly different than some similar folks at the top of the economic heap today? Immediately, Jeff Bezos, Elon Musk and Mark Zuckerberg come to mind.

To level set, some facts about those billionaires who have been accused of trying to buy elections similar to old-style Robber Barons:

·      Elon Musk is running a lottery for $1million giveaway if you promise to vote for Trump

o   Musk’ net worth went from $2 billion in 2012 to $273 billion in 2024

·      Jeff Bezos dictated to a major newspaper that he owns, there should be no presidential endorsement (because he may fear reprisal from Trump if they endorsed his opponent)

o   Bezos net worth went from $18.4 billion in 2012 to $207 billion in 2024

·      Mark Zuckerberg is resisting stopping foreign influence in our elections on his platform, Facebook, because it is bad for business

o   Zuckerberg’s net worth went from $17.5 billion to $200 billion in 2024

YET, THE FEDERAL MINIMUM WAGE ….

2012: $7.25

2024: $7.25

What do all those numbers mean in contrast? The rich are getting dramatically richer and the folks on minimum wage will never be able to make ends meet, period.

The economic divide continues and is getting worse to a point where Gen Z and Millennials will likely not be able to have anywhere near the same lifestyle as their parents.

What is the source of much of this unfairness in our economy? Corporate PACs. Over 85% of Congress takes corporate PAC money and in return, members of congress frequently are heavily influenced by these corporations. Corporate PACs are the reason our healthcare is unaffordable, we do not have any real transformative climate change legislation, pricing gouging is omnipresent, and we have a housing crisis.

How can we change this? Pass a law ending corporate PAC money or start a third independent party that does not accept corporate PAC money.

Gasp! How could we possibly? Well, I do think both options are getting closer, but I want to spend a minute today on a very interesting situation arising forcefully and organically that might act as a pilot program for an independent movement: the current Nebraska race for senate.

Dan Osborn, an independent candidate running for senate in Nebraska is tied against a very well-funded Republican, Deb Fischer.

Osborn is not a standard candidate. He is a union leader with a working-class focus who has rejected the Democratic Party’s endorsement and is vying for a seat Fischer has held since 2012 in a Republican-dominated state.

And, even though Fischer has raked in $2 million in corporate PAC money, Osborn’s campaign has brought in more than $7.95 million, with almost entirely small donations, outraising the $6.49 million Fischer has pulled in.

What is going on in Nebraska? While I’ve watched this race closely and the related coverage, nobody knows for sure. I will say every time I hear a voter in Nebraska speak, they indicate they want their lawmakers to support small business, farmers, increasing the minimum wage, families and unions. Equally as frequently, voters in Nebraska are fed up with both parties for a bunch of reasons including the fact that they let corporations and money run Congress and our legislation process. It seems, like many Americans, they would like to see folks who have jobs like mechanics, local shop owners, teachers, nurses, run and win races for Congress.

In short, they want corporate money out and real folks in.

This may or may not be a litmus test for a third party. Many other democracies have a 3-5 party system. Is it time for a third party here in the US?

Possibly. I will be watching with great interest because the new age Robber Barrons are not much different than the old ones and it is getting truly tiresome.

Have a great week folks.