If you are into the history of New York City, and some of its most amazing buildings, then you would know that some of the signature tall towers in Manhattan and beyond bear the distinguished “Bing & Bing” trademark. Back in mid-Twentieth century, brothers Alexander and Leo Bing were know for having perfected the art of developing luxury apartment buildings and more. Today, many amazing building around New York City stand as a living legacy of the hard work and ingenuity of the Bing Brothers.
Unfortunately, one of the brothers, Leo Bing, left us another ‘living legacy’ that is bad news for anyone who believes in limited government, liberty for Americans, and the kind of free-market system that allowed two brothers, back in the day, to amass a fortune larger than the annual budget of many countries. Stephen Bing is the grandson of Leo, and his share of an inheritance from the Bing family fortune was estimate, when he got it, to be worth between 400 – 600 million dollars! Stephen dropped out of Stanford University and never looked back.
Bing has had a successful career in Hollywood, where his wealth has helped him to create more wealth as he has spent years as a Director and Producer of films. Unfortunately, Bing appears to have a profound disrespect for the very free-market/limited government system that helped his grandfather to make his fortune, and has allowed Bing himself to thrive in the entertainment industry.
Stephen Bing has become one of the most (if not the most) prolific giver of funds to liberal candidates and causes. It seems that the more left-wing the candidate or cause, the more he gives. From 1999-2006, CampaignMoney.com says that Bing donated nearly ten million dollars to political campaigns – all for liberal causes.
Bing has now set a new record, eclipsing any previous record for financial support for a single candidate or political campaign. This November, California voters will consider whether to put into place an oil tax that would move billions of dollars out of the private sector and into government, allowing bureaucrats to redistribute wealth from California taxpayers at a record clip. This draconian tax measure was placed on the ballot, in part, with a large donation from Bing to help pay for the signature gathering effort. With a $13.5 million contribution to the beleaguered campaign (polls show that this oil tax is not catching on with the California electorate – wonder why??), Bing has now brought his total financial support for the ballot measure up to a staggering $40 million!
Now I have no problem in principle with his donation. After all, it is his money, and he is welcome to spent it however he sees fit. But I find his hubris to be pretty amazing. Bing, of course, doesn’t blink if gas prices jump a nickel, or a dollar. As a matter of fact, he probably wouldn’t take note if gas prices doubled (although that would probably be a hefty increase in the cost of topping off the big gas-guzzling private jet airplane he undoubtedly uses to fly around the world).
Since Bing has it made, with more wealth than virtually everyone on the entire planet, he wants to try to grow the size and scope of government, and make everyone’s tax burden higher. How arrogant can you get?
Anyways, next time you are in Manhattan, you can try to find some of the Bing & Bing signature buildings. And then you can wonder what Alexander and Leo Bing would think about their fortune being used to assault the free-market system that allowed them to put those buildings up…