POLITICS

Hungarian-born businessman runs pro-GOP ad warning of “slippery slope” to socialism

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Politics,Beltway Confidential,Sean Higgins

Thomas Peterffy, chairman and chief executive officer of Interactive Brokers Group and a pioneer in electric trading, has produced his own pro-Republican ad for the election. He is doing this independent of the party.

Peterffy told the Examiner via email that he intends to spend $5-10 million on the ad “depending upon how effective it is found to be.” The will run through the election and be broadcast on “CNN, CNBC, Bloomberg, and test markets in Ohio and Wisconsin, (and) possibly Florida.”

In the ad, he addresses the camera directly, talking about his youth in socialist Hungary and how he happy he was to have escaped it to come to America. He warns that America is now in danger of going down the same slippery slope to socialism.

Here’s the transcript:

I grew up in a socialist country and I have seen what that does to people. There is no hope, no freedom, no pride in achievement. The nation became poorer and poorer and that is what I see happening here. As a young boy I was fantasizing about one day going to America, making a success of myself – the American dream. America’s wealth comes from the efforts of people striving for success. Take away their incentive with badmouthing success and you take away the wealth that helps us to take care of the needy. Yes, in socialism in the rich will be poorer – but the poor will also be poorer. People lose interest in really working hard and creating jobs. I think this is a very slippery slope. It seems like people don’t learn from the past. That is why I am voting Republican and putting this ad on television.

I am Thomas Peterffy and I am responsible for the content of this advertisement.

NOTE: This post has been updated to include Peterffy’s response.

 

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