Romney's offshore money and Bush trickle-down economics: A very dangerous mix
Mitt Romney and the Republican Party have made great efforts to distance themselves from former president George W. Bush, and there is good reason for that.
G.W. Bush left office as one of the least popular presidents in U.S. history. That’s because he took a budget surplus and turned it into a massive deficit, while creating fewer jobs than his predecessor, Democrat Bill Clinton.
Bush 43 achieved his deficit by giving the wealthiest Americans enormous tax breaks. Romney wants to follow that policy and even expand on it. Under Bush-Romney trickle-down economic policy, revenue will go down and job loss will go up. That’s what happened last time, and the same policies will not yield different results.
How Romney will turn the U.S. into Greece
A growing revenue imbalance through cutting taxes for the rich is unsustainable. This is what happened to Greece and it is what Mitt Romney will do to America, if given the chance.
“Nearly three years into their country's worst crisis in modern times, life goes on as normal for Greece's super-rich,” according to Guardian UK. "Greeks brought this crisis upon themselves," said a London-based ship owner upholding the sector's vow of silence by insisting on anonymity. "They allowed crooks and corruption to prosper."
The stage has been set, thanks to Citizens United.
The United States is well on its way to full-blown ownership by “crooks” through legalized “corruption,” just like Greece. Super PACs, with their unlimited spending for the candidate of their choice, are using Citizens United as a permit for a corporate takeover of the U.S government. It’s a quiet revolution without the sound of gunfire, but a revolution of sorts nevertheless.
There are a handful of very wealthy people giving massive amounts of money to the Romney campaign. What they are trying to buy, among other things, is a tax policy that will allow them to legally shelter more, if not all of their money from taxes – so the U.S. can become just like Greece. Romney will give them what they want because tax cuts for them are also tax cuts for him.
For those of us who are paying attention and can do the math, we know that Romney has the potential to completely collapse the U.S. economy by starving it of revenue and ripping apart the safety net for the middle class.
“As ordinary Greeks have been thrown into ever greater poverty by wage and pension cuts and a seemingly endless array of new and higher taxes, their wealthy compatriots have been busy either whisking their money out of Greece or snapping up prime real estate abroad,” the Guardian UK added.
Romney already keeps his money offshore, and by refusing to release more tax returns, American voters will never know just how much money he is keeping on foreign soil.
Like many wealthy, vulture capitalists, Romney is calculating and does not seem to be honest about anything. Mr. Romney has changed his position or failed to take one on so many issues, few voters really know what he believes in or how he would actually govern.
“For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments,” according to Vanity Fair.
Romney lives in a “murky world of offshore finance,” with loopholes that “allow the very wealthy to skirt tax laws,” the Vanity Fair report adds. “With $30 million in Bain Capital funds in the Cayman Islands alone… pretty strange for a presidential candidate.”
G.W. Bush may have been a weak leader with a bad economic policy, but he was loyal to his country. The same may not be said for Romney.
Romney may not be under scrutiny for his birth certificate, but he should be having his fitness for office and patriotism seriously questioned.
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