Plastics Is My Business, And Business Is Good

Reporting on Politics and Policy.
Aug. 31 2010 3:30 PM

Plastics Is My Business, And Business Is Good

Democrats and Wisconsin go after U.S. Senate candidate Ron Johnson, a multimillionaire businessman who got into politics via the Tea Party. Democrats say that Johnson built his business with government industrial revenue bonds; Johnson says it wasn't government money. Behold: Confusion!

The issue revolves around what role government plays in industrialrevenue bonds. According to the state Department of Commerce, proceedsfrom a bond sale are lent to businesses like Pacur to finance capitalprojects. Industrial revenue bonds are municipal bonds, but they arenot general obligations of the city. Companiesthat use such bonds pay the principal and interest on the loan. In thiscase, the City of Oshkosh's Common Council, which voted to approve bothbonds, lent its name, but not its credit, to the bond issue.


Got all that? Democrats are doing the same thing in Tennessee , going after another Tea Party-powered candidate, Stephen Fincher, over his farm subsidies. The question is whether voters see these candidates as hypocrites, as Democrats would like, or whether they throw up their hands and buy the rhetoric about big government killing jobs and tax cuts creating them.


David Weigel is a reporter for Bloomberg Politics



The Self-Made Man

The story of America’s most pliable, pernicious, irrepressible myth.

Michigan’s Tradition of Football “Toughness” Needs to Go—Starting With Coach Hoke

Does Your Child Have “Sluggish Cognitive Tempo”? Or Is That Just a Disorder Made Up to Scare You?

The First Case of Ebola in America Has Been Diagnosed in Dallas

Windows 8 Was So Bad That Microsoft Will Skip Straight to Windows 10


Mad About Modi

Why the controversial Indian prime minister drew 19,000 cheering fans to Madison Square Garden.

Building a Better Workplace

You Deserve a Pre-cation

The smartest job perk you’ve never heard of.

Don’t Panic! The U.S. Already Stops Ebola and Similar Diseases From Spreading. Here’s How.

Parents, Get Your Teenage Daughters the IUD

The XX Factor
Sept. 30 2014 12:34 PM Parents, Get Your Teenage Daughters the IUD
  News & Politics
Sept. 30 2014 6:59 PM The Democrats’ War at Home Can the president’s party defend itself from the president’s foreign policy blunders?
Sept. 30 2014 7:02 PM At Long Last, eBay Sets PayPal Free
Sept. 30 2014 7:35 PM Who Owns Scrabble’s Word List? Hasbro says the list of playable words belongs to the company. Players beg to differ.
  Double X
The XX Factor
Sept. 30 2014 12:34 PM Parents, Get Your Teenage Daughters the IUD
  Slate Plus
Behind the Scenes
Sept. 30 2014 3:21 PM Meet Jordan Weissmann Five questions with Slate’s senior business and economics correspondent.
Brow Beat
Sept. 30 2014 4:45 PM Steven Soderbergh Is Doing Some Next-Level Work on The Knick
Future Tense
Sept. 30 2014 7:00 PM There’s Going to Be a Live-Action Tetris Movie for Some Reason
  Health & Science
Medical Examiner
Sept. 30 2014 6:44 PM Ebola Was Already Here How the United States contains deadly hemorrhagic fevers.
Sports Nut
Sept. 30 2014 5:54 PM Goodbye, Tough Guy It’s time for Michigan to fire its toughness-obsessed coach, Brady Hoke.