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EDITOR OF REDSTATE

My Concerns With Eric Hovde

By: Erick Erickson (Diary)  |  July 6th, 2012 at 04:47 AM  | 

RESIZE: AAA

Yesterday I noted that in Wisconsin there is a fight for the heart and soul of the right between Mark Neumann and Eric Hovde. Either would be preferable to Tommy Thompson. My preference is Mark Neumann who is the embodiment of the conservative warrior.

Many conservatives in Wisconsin, however, are gravitating to Eric Hovde. He is rich and willing to spend what it takes to win. He has a very conservative message. But time and time again we see people with the conservative message go to Congress and be anything but conservative. Before conservatives in Wisconsin embrace Eric Hovde, I hope they fully vet him.

Remember, 70% of congressmen who ran as tea party candidates went to Washington and promptly started voting like the Republican who helped get us to $16 trillion in national debt.

Here are a few concerns about Eric Hovde that need vetting.

Hovde is a hedge fund manager, which is awesome, but his company invested in banks that took government bailout money. Hovde made clear he was against TARP going back to 2009, but he’s also made clear he is not against government bailing out banks. That instinct troubles me.

He also lived voluntarily in Washington, D.C. for 24 years. That’s always a red flag.

Then there is Eric Hovde’s statement in 2009 that he would be okay with higher taxes.

“Look, I have no problem with me getting charged higher taxes. I’ve been blessed in my life. And I’ve been very fortunate.”

Sounds somewhat like the Buffett Rule before there was such a rule. The Buffett rule is named after billionaire Warren Buffett, who famously complained that he pays a lower effective tax rate than his secretary.

Hovde said that was not what he was talking about in 2009.

The first-time political candidate said he thinks he was referring to the tax break on “carried interest” – the portion of a fund’s investment gains taken by fund managers as compensation. He favors eliminating the tax break, which is never mentioned in the 10-minute video clip on CNBC.

I’m all for rich self-funders getting into politics when they are conservative. But I’m not really into rich self-funders claiming to be conservative just to get elected only to “grow” in office. Talking the talk and walking the walk are two different things. And I know for sure that Mark Neumann has walked the walk.

Wisconsin voters most definitely need to vet Eric Hovde before they decide he’s the guy to stop Tommy Thompson. Neumann is a sure thing when it comes to his conservative bona fides.

One more thing — the GOP also has a history of picking self-funders who turn out to be spectacularly bad general election candidates. See e.g. the varied Coors clan, Carly Fiorina, etc.

Caveat emptor, Wisconsin.

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COMMENTS

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  • ihateliberals

    The only time they Quack like a duck is during an election. They know what the people want and theyf tell them that instead of producing evidence that they really are conservative. People as a whole are very gullible and lazy. They hear what they want and without question they accept it. That is how we have ended up with a RINO as the Republican Candidate for President. Romney is at the very best a RINO hopefully he isn’t what I think he is and that is a Liberal Republican. His record and his Fathers record point to the latter. Until he was pronounce the Candidate by default i voted against him. I now have to support him because of the two Obama is far worse than Romney could ever be. The Problem is that Romney isn’t a solution to our problems only the brakes to a run away train called the Democrats.

  • commonsenseobserver

    And would settle for Neumann. But I don’t intend to throw away Scott Walker’s state by giving its Senate seat to one of the most liberal members of Congress.

  • http://www.BIO.DavidOsborne.net DavidOsborne

    The fight in FL-19 is about CITIZEN CHOICE of Representation of the same GOP establishment folks being shoved down our throats. Byron Donalds’ campaign reflects this battle. Will you join me in supporting him?

    Respectfully,

    David Osborne

  • PowerToThePeople

    nt

  • bobguzzardi

    Pennaylvania’s Tom Smith is a self-made blue collar multi-millionaire challenging Bob Casey. Tom Smith has put 5 million of his own money into the campaign and is , likely I suspect, to put another 5 million into his campaign. In last 10 years, he has contributed half million to conservative candidates and causes. Tom smith is Pat Toomey with a blue collar.

  • ihateliberals

    Casey is another useless Democrat and hasn’t done anythign but cause havoc and voted for Obamacare of course. Time to throw out the trash in Nov and have both senator’s be Republican and Tea Party preferred.

  • Duke

    I think a lot of conservatives see Hovde as another Sen. Ron Johnson. I wish we had a crystal ball, so we don’t elect a 6-year trojan horse.

    With the dropping of the Robert’s Bomb, perhaps we’ll hear a little more from Mr. Hovde at our Tea Party Rally events. Tommy the Taxer is sure alive and well and workin’ his mouth nonstop at these events!

  • commonsenseobserver

    He did deliver a net tax cut, and reformed education and welfare.

  • Duke

    Tommy did a lot of good stuff during his considerable tenure in WI politics. I knew him back when he actually had a crew cut! It wouldn’t be the end of the world, and perhaps I shouldn’t use the Progressive (formerly known as Liberal) term to denigrate his service – he really wasn’t that much of a “taxer.”

    He’s just the consumate glad-hander, and he’s got a lot of miles on him. His hair doesn’t ever remember what a crew cut was! Personally, for my taste I’d rather have Tommy than Neumann. I really hated Neumann’s muck-slinging in the Gov. primary last time, and until someone stomped his insteps, his surogates in the D.C. faction of Club for Growth started right up on Tommy in this campaign. Too much like life in D.C. for me – better to let the Dems form-up their circular firing squads.

  • gawken

    He waffled on running for the Senate in 2010, sending false signals, and ultimately backing out at the last minute. THAT was the ONE good thing he did..because of that, we now have the superb conservative Ron Johnson in the Senate.

    So give Tommy a great big “atta boy” and then vote for either of his opponents.

  • zollistar

    <>

  • zollistar

    Below is the sentence that prompted the above “getting Roberts” subject line:

    “70% of congressmen who ran as tea party candidates went to Washington and promptly started voting like the Republican who helped get us to $16 trillion in national debt”

  • celador2

    I see Hovde ads that remind me of the Ron Johnson ads on debt , deficits and standing up for fiscal prinicples 2010. But Ron is a businessman in the state who was a self funder in part. An unknown businessman and accountant had the guts to take on incumbent Feingold and win.(Ron must take on Mitch in January)

    Once I saw the comments on Hovde’s being comfortable with higher taxes and learned of his living in DC for 24 years, that did it

    I know nothing about him from his life activities save his ads upon which to make a choice to vote for Hovde over the others. I feared a flip once in DC as Hovde is not grounded in tea party or Wisconsin politics.

    Jeff Fitzgerald was Assembly leader that helped pass Walker’s reforms and gained stature and respect for his leadership. The emotional bond with Fitzgerald is not there with Hovde the hedge fund man.

    I am a long time supporter of Mark Neumann and Tommy.
    Thompson over the years. Everyone likes Tommy in Wisconsin.Tommy did sign the ban on partial birth abortion in the 1990s. Scott Walker shutdown funding to abortion clinics 2011. Warrior Neumann was the original fiscal hawk in 1995 and has remained a devout Christian involved with schools.

    Hovde could be a carpetbagger who wants to go home to Washington DC

    In contrast Mark Neumann and Tommy Thompson have served their state and nation in the public light and have a record upon which to stand as past of their image. They also have updated current plans that are in line with lower taxes and repeal Obamacare.

    I will stick with who and what I know and make my choice accordingly.

    Who can defeat the Democrat in a state where Obama has a tailwind?
    .

  • Common_Cents

    I think it’d be right up RS grass roots alley.

  • celador2

    When the national Club for Growth began those anti Thompson ads my reaction was gut negative to the national Club for Growth. The state Club for growth clarified to readers that they did not run those ads and were not responsible for the ads at national Club.

    Its time to focus on the Democrats as ad targets because we will unite behind the August primary winner. Baldwin has no real opposition so there are no tear down ads against her on that DNC side.

    There is something off balance when there are more negative ads run againt Republicans by Republicans than against the Democrat. Baldwin is not a moderate candidate given her vote record and support for Obamacare and Pelosi as Speaker.

  • celador2

    Romney is the solution 2012 since electing a Republian will have many advantages on taxes. regulation, energy growth and federal judiciary. But we don’t have to settle for his action passively.

    Next time maybe the challengers might run a candidate against incumbent Romney just as they did Hatch and Lugar.

    Such a thought might keep Romney on his toes.

  • zachv

    His connections and support for ObamaCare run too deep. Besides, even though I have a lot of respect for him, Tommy is what I think of as the old guard of Wisconsin. We’ve had Tommy representing Wisconsin for almost 15 years already. I’d much rather have a younger and more energetic Hovde or Neumann instead of a 90s throwback.

  • zachv

    What puts me off from Neumann like Duke pointed out, was the incredibly unpleasant muck-slinging and then (what unfortunately presented itself as an incredible) tantrum when Scott Walker pulled out the win. Neumann’s whole campaign just did not strike me as either professional or very statesmanlike.

    We’ve got a whole month left to see where this goes though.

  • foundersbaby

    ….because in 2009, he went on TV long before considering getting into politics and spoke AGAINST THE BAILOUTS and recognized the federal government was interfering in free market economics.

    He said this to the hosts of a CNBC show.

    ALso, living in D.C. “voluntarily” is not a “red flag.”

    He lived there on business alone, and so do millions of others, including some great Conservatives we all trust and love.

    The parading around of Mark Neumann as a warrior (who supported federal subsidies for industries he was involved in) and a pure conservative (as a man who acted like a petulent child against Scott Walker in the primaries, literally lying about his record) is revealing just how little Erickson knows about our local race here….

    And maybe he should avoid shooting down Eric Hovde before he knows who he is, rather than just taking Jim DeMints word for it.

    P.S. I remember Erik supporting Rick Perry, then bashing him, then voting for him, then yelling at America for not supporting him… I have issues with this kind of perspective.

  • Duke

    It was NOT the WI Club for Growth that did the mud slinging, it was the D.C. bunch, many of which were Neumann people from the Gov. primary. It seems the Republican primary has really calmed down for now.

    As for the November election – Whatever Republican wins the primary is getting my vote. Baldwin is just a horror show that has never made the ratings statewide in Wisconsin to date. She’s as close as we come in Wisconsin to Crazy ol’ San Fran Nan.

  • foundersbaby

    I met Eric Hovde before he entered the race. I asked him that if he was truly considering running for office if he had an opinion on the federal/state relationship, and he brought up the 17th amendment and said there’s a problem that’s happened because of the politicization of the Senate, making it no different than the House, and that we need to restore the balance back to the states.

    Eric Hove is a true Conservative. But honestly, I’d vote for a Democrat if repealing the 17th was their instinctive goal.

    Kudos to Hovde for saying the unpopular thing, even when the alleged conservative (Neumann) wouldn’t dare.

  • celador2

    Hovde has a lot of support , I cede that. And some are still angry at post elections comments.

    Whatever Mark did after 2010 he still lost and Scott won. We all won the recall and may be stronger after that experience.

    In terms of can a voter trust a candidate not to change from campaign promises,Mark Neumann will not flip on issues but Hovde is a wild card. No one knows how he will carry on business. That is my problem with Hovde an unknown, but not with Neumann or Tommy.

    Scott Walker told ‘Christian Science Monitor’ at a breakfast he had mended fences with Neumann and wanted to be a referee in the senate race. Scott will not endorse for Senate just as he did not for president during recall. But not all voters are as forgiving

    .

  • tedblunder

    I’m a bit disappointed that there is not more support here for Eric Hovde, who has clear Conservative principles and who will be a strong advocate. I am surprised people here are advocating a vote for Tommy Thompson who is not where our movement is going. Too much inside, too much frankly ‘liberal’ republican. A vote for Neumann is splitting the conservative. Come on people – we need need to send tough conservatives to Washington!

  • stingray11214

    http://www.redstate.com/stingray11214/2012/07/06/self-funding-not-a-bad-thing/

  • stingray11214

    [link=http://www.redstate.com/stingray11214/2012/07/06/self-funding-not-a-bad-thing/]forgot the link[/url]

  • stingray11214

    [url=http://www.redstate.com/stingray11214/2012/07/06/self-funding-not-a-bad-thing/]forgot the link[/url]

  • celador2

    Where does Hovde reside in Wisconsin? What CD?

    He might run for the House should he not win the US senate race.If he is really concerned with federal power relations and is a constitutional buff who is concerned with usurption and resulting federal supremacy over states , he is needed.

  • zachv

    On the west side of Madison. He’d never win a House race in a million years.

  • zachv

    Open up the “Create New Diary Entry” at the top of the page and you can do all your editing in there quick and easy. Just don’t hit publish.

  • celador2

    Not today could Hovde win a Seat from 2.

    One of the most reliable votes for Pelosi, Tammy Baldwin holds the seat CD 2 but must give it up to run for Senate. She is out of House come January .

    Recall that Wisconsin lost a CD in 2000 census, the Tom Barrett Milwaukee seat. All those Democrats were assigned a new Rep and the House Republicans have been weaker ever since although they hold on. Barrett went on to run for governor then mayor and as we saw recall Walker. For a loser he is still a credible partyman.

    The CD 2 seat had been vacated by Republican Scott Klug 1998 due to term limits promises. Baldwin won by one vote it was so close. But after about 125,000 new Democrats were added to CD 2 from the former Barrett CD, the CD lost its competitive edge it had with Klug.

    Now it is hopeless and pitiful since there are many conservatives all through the CD all the way to Sauk County with no real hope of winning CD 2.

    I would like to see a resurgence of the power the party once had before it got clipped with the Barrett Dump.

    If Hovde does well state wide he can spark a light if he runs for House and win swing votes , I am sure. His Democratic opponent may be some non dynmaic entitled dud.Taxes is a big issues with business, farmers and eveyone.

    But I can see why he would not want to bother in CD2 and though the could do better statewide.

    Dem Ron Kind from La Crosse who voted for Holder contempt and Steny Hoyer for Speaker might have been a stronger candidate than Baldwin but he opted out of running for Senate..

    .

  • Dave_A

    If Thompson wins, He’ll be the GOP version of the Dem he’s replacing – a non-controversial party-line voter, who holds that seat for LIFE.

    Seriously, for those of you NOT from WI, Herbie Kohl’s past campaigns have focused more on what he was going to do as owner of the Milwaukee Bucks (will he sign this or that player, etc), than political issues… He just goes to DC and votes with all the other Democrats, never taking a stand on anything…

    The plus-to-this for the Dems, is that WI kept him in the Senate *forever*.

    The same ‘positive’ applies to Thompson… Put enough conservatives in from the dark-red states, and Thompson will go along with them… If the Senate turns mush, he’ll go along with that too…

    But he won’t ruffle any feathers, and that will make the seat ‘R-for-Life’ just like Kohl…

    WI’s soon-to-be-senior Senator, Ron Johnson, can ruffle the feathers for us… Tommy will just fall in & vote…

  • Dave_A

    He is the guy who WILL beat Baldwin…

    Neumann MIGHT beat Baldwin – but it will be a horse-race…

    The rest? Good luck….

    WI is ‘purple’ enough that we risk a Delaware situation if we pick the wrong candidate…

    And we *need* that seat….

  • commonsenseobserver

    http://www.tommyforwisconsin.com/category/endorsements/

    Conservative enough for Michael Reagan and Mike Huckabee.

    I have to admit, though, that some photos of him look ghastly.

  • commonsenseobserver

    …

  • kenvandoren

    Erickson’s concerns are good as far as they go. Let me add that Hovde did NOT come out against TARP in 2009, merely stated that it was badly administered. He also is critical of the FED (good) but made his money in a hedge fund. Without fiat currency-the ability of the FED and banks to create money out of nothing, there would be few if any profits in hedge funds. The fact that his hedge fund invested in banks means he is like a double dipper. The FED creates money to bail out banks, banks create money themselves.

    Hovde criticizes the Wall St-DC connection in a great ad. The problem? He MADE his money on Wall St, lived in DC, and gave buckets of money to politicians, just like what he is critical of.

    Hovde supported stimulus spending, and though he blew up when it was revealed, his company touted getting rich at taxpayer’s expense. There is more than a little unsettling conflicts between his message now and what he has said and done in the past. I put more stock in what he said 3 yrs ago, than what he says now. Especially since he has not thoroughly repudiated and repented for his past positions.

  • kenvandoren

    Tommy is conservative only if you include the counterfeit variety. As I told his wife when she pressed me about why I do not support Tommy, “If I only had one reason, it would be Smart Growth.” (She did not even know what it was.)

    Smart growth is a dangerous scheme to undermine property rights, which are the basis of our freedom and prosperity. You can mark the softening of the economy in WI to the day that Tommy signed the 1999 budget bill. It has put WI at a competitive disadvantage, and enlarged the bureaucracy in an already overburdened state.

    Tommy left a $4 Billion budget hole when he joined the GB II administration, and that deficit was only recently closed.

    Tommy increased numerous taxes and fees, more than doubled the cost of government in WI during his tenure. One Wi State Senator said that, he hardly met a big government program he did not like in his last couple terms.

    Tommy joined the despicable GB II admin, which spent like drunken sailors. Only LBJ increased government costs at a faster rate, even accounting for defeTommy increased Dept of HHS budget by almost 50% during his 4 yrs there, and is no friend of limited government.

    Tommy- part of the problem, NOT the solution. Even his own brother Ed said, “The problem with Tommy is that he sold out to big government.”

    Tommy will NOT turn back spending, will NOT limite the size, cost and power of government, unless he were to repudiate his own history. I do not hear him apologizing for his past record, and can not vote for him.

  • jbit

    Hovde’s last TV ad stated, and I believe him, that he does not care if the Senate likes him. I take that as a promise to do what is right not what is expedient. I want someone who will vote for the country and our posterity, not someone who will go along to get along. We either change dramatically NOW or America as we have known her and loved her will he history. Ask yourself who will help keep that from happening.

    I moved to Wisconsin in 2002. I heard Scott Walker and Congressman Ryan at an event and I was on board with both of them – the gut check! I heard Ron Johnson and he passed the same test – all three have down home conservative values. I listened to Eric Hovde and knew immediately that he was the same breed of man and I am pround to support him.

    I do not wish to say anything against Tommy Thompson but he like me is yesterday. Mark Neumann will likely never live past , in my estimation, what he said to defame Scott Walker in 2010. It’s that old integrity thing.

  • commonsenseobserver

    I try not to support O’donnell-like candidates in blue states.

  • Freiheit (ZachV)