Does anyone else see what Romney is planning on doing if he gets in office? Take his tax plan for instance. It’s been proven that the immediate result of it will be upwards of $4 pushing on $5 trillion dollars in additional debt. Absent of knowing how it will be deficit neutral, we can only speculate on how he intends on making up this $5 trillion dollars in lost revenue when he brings down the tax rate to 20% across the board. Even after speculation it stills leaves $1 trillion unaccounted for, but that’s not even the real issue here.
The real issue is that Romney touts his experience in the free market as why he’s more than capable of running the United States of America. Sounds good when you look at the fact that he has become tremendously rich from doing so and is still owner, if only by “trust” as he says, of Bain Capital, which is a multibillion dollar corporation.
But when you take a look at what Bain Capital and its subsidiaries did to get to the point that they are at today, then Mitt Romney’s venture to become the next POTUS is a bit disturbing to say the least.
- His company was a “pioneer in outsourcing” jobs to countries across seas
- His company is in the business of buying failing companies, laying off 1000’s of employees, and loading them up with tremendous debt to pay bonuses to investors and extract the profit that they sought before they try to turn the company around
- His company does this even if the corporation they purchased never gets back to profitability and goes bankrupt, they still make off like fat rats
This has been the Bain Capital way and it has proven highly successful for his investors and himself. So here’s what you need to understand. If Mitt Romney gets elected, he will do the US the exact same way.
- First he’s going to add an additional $5 trillion in debt.
- Then he’s going to make the necessary changes to Medicare to get the $716 billion back that Obama cut in waste. This will give his corporate buddies back $716 billion dollars immediately.
- Next he’s going to privatize Social Security which will be to the tune of $100’s of billions to trillions of dollars in revenue flowing into his bankster friends pockets, which will generate billions and billions of dollars in profits for them.
- Then he’s going to repeal Obama Care which again will lead to billions in profits for his corporate buddies.
- He will give out un-needed licenses for more oil drilling, fracking and coal mining to his billionaire buddies, and he will allow EPA standards to be more laxed so that his friends won’t get fined for polluting, which would save them billions.
- And he won’t end the oil subsidies of billions of dollars.
- And on top of all that he’s going to eliminate the estate tax, which would save billions for the 1% and give anyone making over $3 million and additional $250k tax cut all while going up on the middle class.
- Plus he said he will do more trade agreements, which will allow corporations to outsource even more.
Watch President Clinton Explain it here
I more than likely have missed some other things that he will do to help the super rich get richer, but these are some of the major ones that I know will help already rich people become wealthier while the middle class and poor continue to suffer.
Now looking at Bain Capitals investment strategy, doesn’t the Romney campaign mimic it from the beginning to the end?
He adds additional debt to the US by paying off his investor’s, The Koch Brothers, Sheldon Adelson and the rest of the super rich. This is done by privatizing Social Security and Medicare, then repealing Obama Care; cutting their taxes, allowing them to destroy the environment with pollution from over drilling, fracking and opening up new coal mines and allowing them to keep billions of dollars in subsidies.
Then he lays off 1000’s of government workers across the country under the auspices of making government lean and austerity; helps his buddies crush unions, as they have been trying to do, signs more trade agreements so there can be more outsourcing, and repeal any Obama lead regulations on the financial markets.
Then if the country never gets back to prosperity, he leaves office in 4 years and lets the nation go bankrupt, just like Bush did, but in the mean time his corporate friends make out like a fat cats again and nothing trickles down to the less fortunate.
All we have to do is look at his record as Governor of Massachusetts. Yeah he balanced the budget from year to year but he still left the state with $2.7 billion in additional long term debt, just like Bain Capital does when it takes over companies. They balance the books by taking out loans bring the company to black from red, but pushes the debt obligation down the road so that the books look good. Then they pay off cronies with a part of the loans, and they all get richer.
We cannot afford for this to happen again and Mitt Romney has already shown that this is what he is going to do. If it does we will see the same thing that is happening in Greece, Italy and various places across the globe happen right here on our streets!