Silicon Oligarchs’ Double Standard

… the new generation oligarchs are very different from the traditional “propeller heads” who once populated the Valley. More media savvy and less dependent on manufacturing, the new leaders have less interest in the kind of infrastructure and business policies generally favored by more traditional businesses. They also tend to have progressive views … that align with the gospel of the Obama Democratic Party… the Silicon Valley– San Francisco corridor, has become one of the most solidly liberal regions in the country. The leading tech companies, mostly based in the area, send over four-fifths of their contributions to Democratic candidates…
… despite its counter-cultural trappings and fashionably progressive leanings, Silicon Valley has turned out to be … greedy … wages for the region’s African-Americans and Latinos, roughly a third of the local population, have dropped, down 18% for blacks and 5% for Latinos …
…. The poverty rate in Santa Clara County has climbed from 8% in 2001 to 14%, despite the current tech boom; today one out of four people in the San Jose area is underemployed, up from 5% a decade ago. The food stamp population in Santa Clara County has mushroomed from 25,000 a decade ago to almost 125,000. San Jose is also home to the largest homeless camp in the continental U.S., known as the Jungle
… Google maintains a fleet of private jets at San Jose airport… Google executives touts its green agenda but have burned the equivalent upwards of tens of millions of gallons of crude oil, …
… individuals like Bill Gates have voiced public support for higher taxes on the rich, yet Microsoft, Facebook and Apple have all saved billions by exploiting the tax code to shelter profits offshore. Twitter’s founders creatively exploited various arcane loopholes to avoid paying taxes on some of the proceeds of their IPO that they set aside for heirs…

~How Silicon Valley Could Destabilize The Democratic Party Bu Joel Kotkin. Forbes.

See also:

  • Who is Who – Political Leanings – in Silicon Valley
  • San Francisco as a Capital of the “Left Coast” of America
  • The Democratic Billionaires Club’s double-standard

     

     

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