In what ways is Mitt Romney worse than George W. Bush?

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   peanutroasterposted 12 years ago

   In what ways is Mitt Romney worse than George W. Bush?
   
   I'll start off the discussion with a few observations:  1. He actually profits from shipping jobs to China.  2. No one in his family ever served in the armed forces and he's doesn't even appear to care about veterans.  I could go one but I don't want to take all of the good ones.

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2. 68

   LandmarkWealthposted 12 years ago

   This stuff about shipping jobs to China is simply nonsense.  FIrst of all private equity firms like Bain are vital to the US economy.  They have saved countless companies that would otherwise have gone under.  They have raised the capital to finance 1000's of start up companies.  In Bain's case, Staples, Sports Authority (which I shop at all the time) are just a few of the bigger more well known names.  The entities couldn't exist if not for private equity.
    
   In terms of China, and these manufacturing jobs.  Consider this, the average worker in the manufacturing industry in China makes about 5-10% of the wages of a US worker.  If those jobs were here in the US, the cost of labor increase would mean the computer you're typing on that you spent about $500-$1000 on brand new would now be well more than double in price. You can translate that into nearly everything you buy.  So since the cost of living would easily double interms of consumption.  That is the same thing as a 50% pay cut.  The math is not precise, but the principal is easy to understand.  On the contrary, wages with new jobs would not begin to keep up with the increased labor cost.  The increase in employment for a few people would not nearly offset the economic impact of inflation to everyone.
   
   What most Americans need to grasp is we are a far more developed marketplace.  Those jobs are not likely to come back to the US EVER.   Nor should we want an economy based on these types of jobs.  We need to focus more on higher skilled labor.  That is not what China is taking.
   The reality is that we have an enormous number of job openings in which US companies actually import foreginers to come work here in the US because US workers are unqualfiied.  Companies like microsoft import software engineers every year.  Additionally there are a great deal of foreign companies creating employment in the US for US Workers.  Anyone seen a Japanese or Korean car on the road.  They are made by US workers in US plants with often US parts all across Detroit south.  Anyone in the northeast see a TD Bank branch anywhere.  It's a Canadian Bank employing US workers.
   
   We live in a global economy, and free trade of both products and resources is a good thing.  We simply need to get nations like China to play by the same rules. Right now they do not in terms of patents and inellectual property.  And neither Bush or Obama has attempted to address this at all.  Thankfully Gov Romney has at least addressed the problem.

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   1. 64

      peanutroasterposted 12 years agoin reply to this

      I don't want a president who made a fortune "harvesting" the profits out of companies and shipping the jobs to China.  In Romney's own words he describes what Bain did:
      Bain Capital is an investment partnership which was formed to invest in startup c

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   2. 68

      LandmarkWealthposted 12 years agoin reply to this

      You mean the profits that fund pensions for teachers, federal workers, local municipalities. You understanding of private equity is limited. China ships jobs here as well.  Who do you think we sell our crops to.

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   3. 64

      peanutroasterposted 12 years agoin reply to this

      The biggest joke of all is how the government bailed out Bain Capital.  These conservatives who like to go around saying half of America are takers : http://www.rollingstone.com/politics/ne … y-20120829

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   4. 68

      LandmarkWealthposted 12 years agoin reply to this

      The author of this article knows nothing about how the capital stucture of investing works. He did exactly what he should have done. If not the FDIC would have lost even more money. Not to mention they pay for the FDIC to exist.

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      peanutroasterposted 12 years agoin reply to this

      Sorry I can't trust the views of someone who makes a profit when his clients win or lose.  I'm sure you love Romney since he is a fellow salesman.

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      LandmarkWealthposted 12 years agoin reply to this

      I am not a salesman, I work in the wealth management business.  And it's illegal in the investment business to only profit when clients profit.  It's considering sharing in the ownership of a clients account and prohibited by the SEC.

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   7. 64

      peanutroasterposted 12 years agoin reply to this

      Whatever, bottom line is profits or "wealth" the the goal despite what it means to people.  Like Romney, the goal is to make money.  The goal of the office of president is to look out for all American's not a select group of investors.

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   8. 68

      LandmarkWealthposted 12 years agoin reply to this

      The goal is profit, often through creative destruction.  If we applied such ideals as you speak of, the automobile was a bad idea because it cost the horse an buggy business jobs. You fail to see the net effect. Results don't happen in a vacuum

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   9. 64

      peanutroasterposted 12 years agoin reply to this

      In your mind large corporations like Staples and Sports Authority who bring in cheap goods from China with their huge buying power is great - but this is what killed Mom and Pop small businesses in down towns across the country.

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   10. 68

       LandmarkWealthposted 12 years agoin reply to this

       Staples employees over 50k full time people and paid over 475 million in US taxes to the treasury.  Not to mention all the tax revenue paid by the employees.  A lot more than mom and pop ever produced.

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   adjkp25posted 12 years ago

   I was no fan of Bush but at least you knew where he stood on something; you might disagree with him but you knew his position.  I have seen so many comments from Romney that are polar opposites of each other on issues I don't feel confident that I really know what his position is anymore.

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   1. 64

      peanutroasterposted 12 years agoin reply to this

      Indeed - where is this man's core? Is it what he says to rich backer behind closed doors, like how he thinks half of America are loafers?  Is it the red meat he tosses to the religious right to get them to over look his Mormonism?

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4. 64

   peanutroasterposted 12 years ago

   3. Just as Bush ran on the economy and had no foreign policy experience (which lead to influence from war hawks and got us bogged down in endless wars) -  Romney is basically the same - focused solely on the economy while leaving foreign policy to 17 out of the same 24 advisers Bush had.
   
   But I don't think Bush changed his mind as often.
   
   4. Barbara would never have referred the common people as "Those people"
   
   
   5. Bush debated Kerry.   Romney debates himself:
   
   Mitt Romney, 10/3/12: I will not reduce the taxes paid by high income Americans.
   Mitt Romney, 2/22/12: There were so many misrepresentations in there it's going to take me a little while. Number one, I said today that we're going to cut taxes on everyone across the country by twenty percent—including the top one percent.
   
   Mitt Romney, 10/3/12: The key to great schools? Great teachers. So I reject the idea that I don't believe in great teachers or more teachers.
   
   Mitt Romney, 6/8/12: He says we need more firemen, more policemen, more teachers. Did he not get the message of Wisconsin? The American people did. It's time for us to cut back on government.
   
   Mitt Romney, 10/3/12: Actually, it's a lengthy description, but number one, pre-existing conditions are covered under my plan.
   
   Mitt Romney, 3/27/12: If they're 45 years old and they show up and they say I want insurance because I've got heart disease, it's like: "Hey guys, we can't play the game like that." You've got to get insurance when you're well, and then if you get ill, then you're going to be covered.

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   1. 64

      peanutroasterposted 12 years agoin reply to this

      Romney wants to provide to the very rich are multiples of the Bush tax cuts. The cuts in services and in programs for the poor are much more onerous than anything that Bush ever, ever contemplated - Robert Reich

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      LandmarkWealthposted 12 years agoin reply to this

      There is no conflict in these statements, for ex...he supports a pre-existing condition mandate up to a certain age. At which point such a mandate can only put private insurance out of business.  You're taking these comments out of context

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   3. 64

      peanutroasterposted 12 years agoin reply to this

      Romney said that people can go to the emergency room if they have a medical emergency.  Amazingly dumb statement as emergency rooms are the most expensive form of healthcare.

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      LandmarkWealthposted 12 years agoin reply to this

      He was referring to the irroneous notion that people are denied treatment, which is illegal in the US.  Not that he felt it was the first line of defense in a health care plan.

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   lostdogrwdposted 12 years ago

   President Obama, Romney, Former President Bush are ALL OWN BY WALL STREET BANKSTER and doing what they want. Former President Clinton did the most damage by repealing The Glass Steagall Act which allow Bush and Obama along with Wall Street to keep robbing the U S people blind but shame on the people for so many educated  people not to know how the repeal act is robbing them. is a major money grab and the people just can't see that.

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   1. 64

      peanutroasterposted 12 years agoin reply to this

      New one!  Now its clear that Romney supports allowing the government to force rape victims to bring the rapist's child to term.  Talk punishing the victim.  Even Bush wouldn't go this far to the religious right.

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   cathylynn99posted 12 years ago

   both bush and romney are karl  rove puppets, two peas in a pod. romney is more dishonest. well, he's totally dishonest. but it barely matters with cut-throat karl in charge. rove puts his opponents in prison, maybe even has them killed, and steals elections. there was proven fraud in ohio that cinched the 2004 election for bush. rove is for anything goes to get a permanent republican control of everything. always for the big money guys. screw joe average. rove only cares about abortion as a tool to scoop up votes. oh, by the way, romney profitted from his investment in a company that disposes of aborted fetuses. so he doesn't mind making money from abortions.

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      cathylynn99posted 12 years agoin reply to this

      my source on karl rove is "boss rove" by craig unger. read it before you argue.

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   2. 64

      peanutroasterposted 12 years agoin reply to this

      Thanks for the info. I looked it up - yes indeed Stericycle was a lucrative investment for Romney and Bain.

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