Friday, August 24, 2012

Mitt Finally Tells The Truth!

Mitt just can’t help himself.
At a fundraising event in Minnesota Mitt Romney finally told the truth about corporate America…big business is doing just fine; thank you very much.
“Big business is doing fine in many places” Romney said.  “They get the loans they need…they can deal with all the regulation.  They know how to find ways to get through the tax code, save money by putting various things in places where there are low tax havens around the world for their businesses.  But small business is getting crushed.”
Mitt’s right!  Corporate profits are at record highs.  According to Forbes Magazine the 500 largest corporations pulled in a record $824 billion in profits in 2011; up 16% from the previous year.  They are on course to rise an additional 17% this year.  CEO’s at these companies earned an average of $12.9 million; up 14% from the previous year.  That’s 380 times the wage of an average American worker according to the AFL-CIO.    
The DOW has risen 60% since Obama took office.  By contrast the DOW dropped 25% during George W. Bush’s eight years in the White House.
Life is very good for corporations and the top 1% wage earners.  According to Mitt things should be going well for the middle class as well…right?  After all  Mitt has always told us that when these “job creators” are doing well their good fortune trickles down to the average Joe in the form of good paying jobs and benefits.  All we have to do is let them prosper and the world will be a better place for one and all.
So why is unemployment at 8.3%?  Why have middle class wages remained stagnant for the past three decades while the job creators have watched their wages and profits skyrocket? And why does Romney want to give tax breaks and subsidies to those who “are doing fine” and pay for them by cutting programs that the middle class and working poor depend upon?
Romney’s desire to return to the world of trickledown economics is ill conceived.  It may have worked during the almighty Reagan years but it doesn’t work now.  The good fortune enjoyed by the top of the food chain no longer trickles down…it trickles out…to China and India and other players in this global economy.
Mitt Romney finally told the truth.  “Big business is doing fine…”
One more thing…
Can you imagine the outcry if Barak “the socialist” Obama would have said: “They know how to find ways to get through the tax code, save money by putting various things in places where there are low tax havens around the world for their businesses.”   
Now we know why Mitt won’t show us his tax returns…              

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