Businesses should reject special treatment from the government: Charles Koch says he made decisions that hurt his bottom line in the short term, but ‘it was the right thing to do’

Businesses should reject special treatment from the government: Charles Koch says he made decisions that hurt his bottom line in the short term, but ‘it was the right thing to do’

Charles Koch says we need CEOs who practice doing well by doing good.







Bo Rader/Wichita Eagle/Tribune News Service via Getty Images













Charles Koch is chairman and CEO of Koch Industries, one of the largest privately held American companies, and an influential philanthropist for more than 50 years. Brian Hooks is president of the Charles Koch Foundation, and chairman and CEO of Stand Together.

The following is an excerpt from their new book, "Believe in People: Bottom-Up Solutions for a Top-Down World." 

In it, Koch and Hooks explain how corporate welfare stunted innovation in the economy and hope to empower young entrepreneurs and Americans to protect the business community from these destructive policies.

They share examples when Koch Industries actively fought corporate welfare, including persuading the federal government to end direct ethanol subsidies and opposing tax provisions that would benefit its company, but harm its customers. 

"While this hurt our bottom line in the short term, it was the right thing to do, and it contributed to a better business environment in the long term," Koch and Hooks wrote. 

Visit Business Insider's homepage for more stories.

Corporate welfare