The Republican candidates are now stumping in South Carolina.is confident and assured that he will win in South Carolina just as he took the Iowa Caucus and won the New Hampshire Primary. Romney’s fellow republican counterparts appeared to want to up-end Mitt’s front-running status. A few decided to lob a few rocks at his campaign. New Gingrich’s video attack on Mitt’s record at creating jobs while at Bain hit a snag.
By the end of the day yesterday, all of the Republican candidates including, circled their wagons around Mitt Romney and his claim of being a staunch, successful representative of free market capitalism. Clearly, Mitt Romney is and has been an extremely successful businessman. The question becomes was Romney successful in jobs creation while amassing billions during his tenure at Bain Capital? If his claims are not accurate and truthful, then why would the unseen, powerful Republican policy makers demand that all of the current Republican candidates stop their attacks against Romney because of his involvement with Bain Capital? Exactly what are the Republicans trying to hide?
Perhaps I can provide you with a bit of insight. Everyone knows that to most Americans, capitalism is synonymous with freedom and those two concepts are what makes us American. Whenever a discussion is raised about increasing taxes on the rich or if new government regulations on business/corporations are raised in the public dialogue, members of the Tea Party and the Republican Party decry the looming injustice will surely cut corporate expansion and cut jobs. Millions of Americans have lost jobs, homes, retirement funds and life-long investments in the recent economic meltdown, so it is understandable the last thing average Americans want to hear is “less corporate expansion that obviously translates into fewer jobs.” But perhaps the American public and their need for jobs and opportunity is being held hostage by a political ideology that is clearly destructive to those very needs?
Make no mistake. Both parties are equally guilty of supporting the desires of big business and corporations over the mandate and needs of the populace. The public is guilty of not understanding that the words that are used to symbolize American Exceptionalism, capitalism, free-market economy, are the very words used by corporate America to continue their stampede to destroy the free market economy and erect businesses that earn, even at the expense of everyone else.
So, lets examine how the words of the past are being used today against average Americans. Capitalism: “defined as an economic system that includes private ownership that creates goods and services.” Most people typically understand capitalism as a means to encourage economic growth. As a concept, trying to find tyranny in corporations or candidates that advocate capitalism would be political suicide. Perhaps that definition of capitalism is no longer embraced by, say, a Mitt Romney? Under the helm of Bain Capital, a private equity company under his direction from the mid-1980’s thru 1999, Bain made enormous profits by investing in established companies with hundreds of employees. Private equity companies, like Bain, attempt to balance their economic risks by adjusting the percent of asset in an investment portfolio. Bain adjusted their investment percentages by firing employees. Having fewer people on the payroll as well as not having to pay their health care insurance costs clearly fortifies the balance sheet of any company. Most companies refer to this as “cutting the fat.” But if you and your family are the described “fat”, and there are millions of those judged to be the “fat” by corporations nationwide, then the pursuit of capitalism appears to change greatly. The current business model that ha been pursued by many corporations since the mid-1980’s is in fact the very opposite of free-market capitalism. What Mitt Romney and many corporate executives practice today should be called “perverted capitalism.” Is this the kind of experienced corporate executive we really want at the helm of our nation to create jobs and strengthen our economy?
Mitt Romney and many corporate executives also love to spout their adherence to a “free market economy.” A free market economy is defined as a competitive market where prices are determined by supply and demand.” Unfortunately, prices in the marketplace are no longer determined by supply and demand. With private equity investors and hedge fund managers, the free market is now controlled by rogue investors intent only in making huge profits. Look at the recent soaring costs of gasoline and heating oil. Look back a few years ago to the spike in the cost of rice. Markets are manipulated solely by investors. Demand has decreased over the last few years and yet prices have spiked for consumers. Mitt Romney learned how to pervert the free market economy decades ago. Is it not time for the average voter to become educated about the people and the economics that really affect their lives, rather than just trusting the talking heads who earn their salaries from the very corporations that downsize our lives by cutting salaries and jobs?