American Billionaire That Fled Communism Runs Election Ads Against Socialism

Billionaire Thomas Peterffy put out an ad this election cycle warning Americans of socialism here in America.. What makes the ad so special? Peterffy lived in a country controlled by Communism. In 1965, at the age of 21, he fled his native Hungary and moved to America, where he began his American dream.

Peterffy worked hard and earned literally billions of dollars as the head of a successful brokerage firm, Interactive Brokers (Nasdaq: IBKR).

From the ad:

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“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’s what I see happening here.”

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“Americans wealth comes from the efforts of people striving for success. Take away their incentive with bad-mouthing success, and you take away the wealth that helps us take care of the needy. Yes, in socialism, the rich will be poorer — but the poor will also be poorer. People will 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’s why I’m voting Republican and putting this ad on television.”

The ad you will see below warns of creeping socialism in our country. It is not coming. It is here.

While the ad supports Republicans, one must remember that Republicans have quite often had their horse tied to a socialist cart in the promotion of bigger government and entitlement programs. Neither the Democrats or the Republicans have their hands clean when it comes to advancing socialism here in America.

However, the ad is well done and it’s message is on target, as far as socialism is concerned. Not only that, but Peterffy is spending upwards of $5-10 million of his own money to run these ads on CNN and CNBC until the election. Already, the ad has been seen by nearly 600,000 people on YouTube.

Jacob Bunge at the Wall Street Journal writes,

Mr. Peterffy ends the video by saying that he will vote the Republican ticket in the upcoming elections. He said in an email that he believes voters in November could unwittingly decide the sort of social system that defines the country for decades to come.

“If 4 years from now if more than 50% of voters are on government support… it is all done and finished,” Mr. Peterffy said in the email. Citizens will lose motivation and the country will grow poorer as a result, he argues, citing his childhood in Hungary and similar scenarios that he maintains have played out in other Eastern European countries and in Cuba.

Mr. Peterffy said he believes any effect on the business of Interactive Brokers, which reports third-quarter results Tuesday, will be a wash.

“There will be people who will not like it counterbalanced by people who will,” he said in the email. “As long as I do not get knocked off or have a regulatory crusade against me I’ll be fine.”

Kudos to Mr. Peterffy! He has demonstrated just why government should not be involved in “helping” people, but why individuals should strive to succeed and in turn voluntarily help those less fortunate.

Here’s the ad:

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