Home > SD 2014 Ballot, South Dakota > Since nobody wants to talk about whether EB-5 is right, I guess we let Myers bring attention to it with sideshows

Since nobody wants to talk about whether EB-5 is right, I guess we let Myers bring attention to it with sideshows

August 25, 2014

EB-5 should be a big issue during the 2014 election season in South Dakota. It won’t be. Don’t get me wrong, I do think EB-5 will be a word thrown around a lot. But as an issue it simply won’t matter at the ballot. And the ones that are talking about EB-5 will be doing so to either point fingers at Rounds/Daugaard or to uncover massive corruption in Pierre. It is unlikely any amount of EB-5 talking points will be successful doing any of those things. The simple fact of the matter is that ‘EB-5’ as a phrase is not well enough understood by the average voter to really mean anything.

Personally I think all of the EB-5 discussion has had the wrong focus anyhow. To me the discussion shouldn’t be about what specifically went wrong with EB-5 in South Dakota. Any ‘wrongdoings’ were likely to be legal. And any illegal activities will likely be linked to someone who is already dead and cannot defend himself. No, I would prefer the EB-5 discussion to revolve around whether the program should even exist within the United States. I would say such a program doesn’t belong in the US.

Over a year ago I wrote this about EB-5:

There is nothing free-market about any of the Northern Beef debacles. The EB-5 program is corporate welfare and has nothing to do with free-enterprise. At its core the EB-5 allows foreign investors to buy a green card; at the same time politicians get to funnel a LOT of money to their favored businesses. It’s a win-win. Well, it’s a win if you happen to be one of those investors or politicians. However if you happen to be someone working for an EB-5 welfare recipient it isn’t so good. These programs are well-known for being ineffective and falling way short of the “created jobs” promise that they were created for.

I stand by what I posted then. At its core the EB-5 program allows for massive amounts of money to be used in picking winners and losers in the market. Even ‘successful’ dealings with EB-5 should not be considered a good thing. The use of this EB-5 money corrupts the free market and provides ample opportunities for corruption. I still find it odd that anyone who cares about the free market or fiscal conservatism could advocate for such a program. More and more the evidence clearly shows that fiscal conservatives love to invoke ‘free market’ as a talking point, yet these same fiscal conservatives fail to actually live by those talking points.

Well, since nobody in politics will have the true discussion of whether EB-5 is right or wrong, I guess its time to look at what SD Independent gubernatorial candidate Mike Myers is doing. He is publicly calling out the Attorney General’s office for covering up the details of Richard Benda’s death. At Dakotafest last week Myers said he knew of a federal document that would prove Benda couldn’t have committed suicide in the officially announced way. Further the document allegedly states that the barrel of the gun used by Benda was at least 18 inches away. It should be noted that this document cannot be produced or corroborated by any other source. Until another source can be found the claims by Myers have to be taken with extreme skepticism (as should anything coming from any politicians).

Below is the video of Myers and Hubbel demonstrating how difficult it would be for Benda to have committed suicide in the officially stated manner. Since the candidates, media, and even bloggers, really don’t care about having a discussion about whether EB-5 is a good program; it creates a situation where candidates such as Myers and Hubbel have to create these sideshows just to get attention to the matter. Personally I think such sideshows are counter-productive. But since Myers did decide to go this route and I was there, I decided to record the event and let people decide for themselves.

Here is the video:

I know some will likely attack me for posting the video. OK, go ahead. Such attacks will just reinforce my point that people care more about the sideshows than the true conversation about whether EB-5 is a program the United States should even have.

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