Holy Hypocrisy! Hobby Lobby Investing in Abortion Pill Makers
Christian-owned Hobby Lobby sparked national controversy recently when it refused to cover contraception, as mandated by Obama’s health care reforms, claiming it violated their Christian faith, taking their fight all the way to the Supreme Court.
Now, it turns out, that while providing low-cost birth control coverage to their employees offends their religious sensibilities, investing the manufacturers of the so-called ‘abortion pill’ does not.
According to a report published in Mother Jones, Hobby Lobby’s retirement investment portfolio includes several companies involved with the promotion and manufacture of Plan B as well as drugs used in abortions. Teva Pharmaceutical Industries, for example, makes Plan B (what is often erroneously called an abortion pill) while Pfizer, another stock in the company’s portfolio make Cytotec and Prostin E2, drugs that are used to induce an abortion.
In their Supreme Court arguments, however, these are the same drugs that company owners, the Green family, used to challenge Obamacare, demanding that their religious beliefs disallowed them from providing contraceptive coverage to its workers.
“Being Christians, we don’t pay for drugs that might cause abortions … something that is contrary to our most important beliefs. It goes against the biblical principles on which we have run this company since day one,” Hobby Lobby founder David Green wrote in an article for USA Today, explaining why he was taking his argument tot the highest court.
Yet, unfortunately for Green, his companies actions do not back up his claims.
Hobby Lobby’s investment practices are not a single embarrassing error. All nine of the companies mutual funds have investments in companies that do business in the manufacture or development of abortion-related drugs and as Forbes points out, Hobby Lobby has a responsibility to know where its investments are going.
What makes it worse for Green and Hobby Lobby is that faith-based investing options exist, which would have made it easy for Hobby Lobby, if truly stringent in their concerns to avoid the drugs, to eliminate these companies from their portfolio, something they chose not to do.
Forbes’ contributor Rick Ungar said Hobby Lobby’s investment practices are inexcusable and the revelation of where their money goes places serious doubts on the true motivations of the company’s claims.
“To now discover that these people are seeking to avoid their obligation under the law to provide their employees with a contraceptive benefit at the same time they are allowing their 401(k) to invest in—and profit from—these very products is, in my view, completely unforgivable,” Ungar said, pointing out that “Hobby Lobby’s hypocrisy will do little to aid—and much to deter—others willing to stand up for the Bill of Rights in the future”.
Photo Credit: dangapricot