(Video) I think this guy knows what he’s talking about when it comes to Socialism

Posted by: Phineas on October 13, 2012 at 6:35 pm

**Posted by Phineas

Born in Budapest in 1944 under the Nazis, he lived under he Soviet boot until he left for America at age 21. Having achieved the American Dream, he’s worried:

He’s not running for office. He’s not part of a super PAC. He’s not lobbying for or against any ballot measures.

But billionaire Thomas Peterffy is spending millions on television ads this election season with one cautionary message: Avoid socialism.


Peterffy was born in Budapest in 1944 during the deadly Soviet offensive that ended in the capture of Hungary’s capital the following year. From then, the republic remained under communist control until it gained independence in 1989.

The new ad features images of Peterffy as a child in Hungary and the impoverished conditions in his native country.

“As a young boy, I was fantasizing about one day going to America, making a success of myself. The American Dream,” he says.

Peterffy left his country and moved to New York in 1965, where-without knowing English–he got a computer programming job on Wall Street. He later purchased his own seat on the American Stock Exchange in 1977 and, fast forward a few years, found himself the creator of Interactive Brokers, one of the first electronic trading firms.

Forbes Magazine now estimates Peterffy, 68, has a net worth of $4.6 billion.

And then there’s this:

“I’ve paid $1.9 billion in taxes in my lifetime, now I am being told that I am not contributing my fair share?” he said in an interview.

Here’s the ad:

Here’s a difference between the Left and the Right. The Left will look at Mr. Petterfy and see him through the lens of class warfare, the evil profiteer whose money had to come from hurting and exploiting others. How dare he want to keep more of what he earned? The Right, on the other hand, sees someone who came to America and added value to the nation, creating a successful business with the attendant jobs. Creating wealth for himself and, directly or indirectly, others. By engaging in his own pursuit of happiness, he helped others achieve theirs.

Put it another way: A Righty and a Lefty see Mr. Petterfy’s ad on TV. How do they react?

Right: “I want to be that guy!”

Left: “I”m going to get that guy!”

Mr. Petterfy’s ad is running on national cable networks and test markets in some battleground states. I’d say he’s putting his money to good use — and his adopted nation’s service.

via Fausta and Ace, who highlights a facepalm-worthy comment from a reader

(Crossposted at Public Secrets)

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6 Responses to “(Video) I think this guy knows what he’s talking about when it comes to Socialism”


  1. Julia says:

    Pretty much EVERY comment on the article is face-palm-worthy. The Left does a great job of proving that socialism is, in fact, based solely on envy.

    (and the commenters who took the “this guy doesn’t know about socialism” position are extra funny, because the entire comment thread sounds like a transcript of a Maoist struggle session–it looks like they themselves have no idea what socialism looks like in practice)

  2. It is safe to say the views of the anti-everything Left and those of the Right are not divergent; they are diametrically opposed. Those of us on the Right are content to use our efforts and energy for betterment while the Left feels the only recourse is to build themselves up by tearing others down, a pernicious philosophy.

  3. Carlos says:

    Peterffy is the perfect example of why leftists are unthinking idiots. I have friends who actually have told me that, yes, his is a wonderful and encouraging story, but his is anecdotal, not serious, and doesn’t count for anything!

    Every day there are more who fit into what classists consider “the rich” category. (That category’s parameters change depending upon the classist, but they all seem to agree that being “rich” is evil.)

    When I ask them, “Where do all these new “rich” people come from?” they stare at me like I’ve got three eyes or two heads or something. Usually, as I’m walking away at that point I say something along the lines of, “Gosh, there’s sure a lot of anecdotes out there that get rich, aren’t there?”

    There is no answer to the question for a leftist, or really, even a centrist. The “new rich” come from somewhere, and it’s pure jealousy and envy from lazy leftists that they aren’t the ones that personally came up with whatever idea it is that’s made the American Dream come true one more time, every time.

  4. benin says:

    What an amazing story. And contrary to what the liberal MSM would have folks believe Peterffy is highly relevant to the discussion.

    Namely because it flies in the face of the whole “the wealthy don’t pay their fair share” argument.

    And I’d be willing to bet that on top of the nearly $2B that he’s paid in taxes that he’s probably devoted a hefty sum to charity (the ad cost $5MM by itself), as well. Plus, the folks that he’s employed over the years are also contributing their share of taxes and new wealth to our country. What’s wrong with that?