Dave Ramsey, Others Say Hobby Lobby Not a “Hypocrite” for Retirement Plan

Hobby Lobby

Critics of Hobby Lobby are inconsistent and illogical when they charge the company with hypocrisy for offering a retirement plan which invests in companies that fund abortion, financial counselor Dave Ramsey and other commentators said.

Hobby Lobby founder David Green is “not a hypocrite,” Ramsey said April 3 on his nationally syndicated radio program. “I have the same 401(k) plan. I’m a Christian.” Recent attacks against Hobby Lobby’s retirement plan are “based on a lack of logic” and “a lack of knowledge,” Ramsey said.

Two days earlier, the liberal magazine Mother Jones had published an article claiming that while Hobby Lobby was challenging the Obama administration’s abortion/contraception mandate in court, “it spent millions of dollars on an employee retirement plan that invested in the manufacturers of the same contraceptive products the firm’s owners cite in their lawsuit.”

As of December 2012, according to Mother Jones, the Hobby Lobby 401(k) employee retirement plan held more than $73 million in mutual funds which included investments in companies that produced emergency contraceptive pills, intrauterine devices and drugs commonly used in abortions. Hobby Lobby makes matching contributions to its employee 401(k).

News outlets across America picked up the story, including NBC, CBS and Forbes. Writing in Forbes, commentator Rick Ungar accused Hobby Lobby of “sheer and stunning hypocrisy.”

“From what I had previously been able to learn,” Ungar said, the Green family “were decent people who have long taken appropriate care of [their] employees by paying in excess of minimum wage and providing all employees with healthcare benefits.”

“But 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.”

Ramsey and others responded that it is deceptive to insinuate that Hobby Lobby invested $73 million in abortion-causing products. An average mutual fund invests in 90-200 companies, a very small number of which may engage in objectionable activities, Ramsey said. Only a tiny fraction of that $73 million was invested in objectionable business ventures, he said.

Though Christians should not directly fund immoral activities, refusal to spend money on anything tied to a sinful behavior would result in an unreasonably isolated life, Ramsey said.

“That means you can’t shop at your local grocery store because they’ve got a Playboy in the back. That means you can’t give to the United Way in some markets because United Way in some markets is the exclusive supporter of Planned Parenthood and abortion. If you’re against abortion, you can’t invest there. It means you can’t do business with your local bank, by the way, because they’re the biggest supporter of United Way, who supports Planned Parenthood, who supports abortion,” he said.

“How thin are you going to shave the apple?”

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SOURCE: Baptist Press
David Roach

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