|Willard Mitt Romney's Record: Outsourcing American Jobs|
By Roy Steele
Willard Mitt Romney loves to say that President Obama is the biggest impediment to companies creating new jobs, when the exodus of jobs and lack of new opportunities, are a direct result of the Bush recession (created by the George W. Bush administration).
Romney also loves to tell some audiences that “Obamacare” is the problem with our economy, even though the full provisions of the new healthcare law do not go into effect until next year. He says he’s going to repeal the healthcare law, despite the fact that it is based on “Romneycare,” the very law that he crafted in Massachusetts.
Romney brags about his time at Bain Capital. He was very successful and earned his fortune there. You can’t take that away from him. You can’t take away his offshore bank accounts in Bermuda, the Cayman Islands, and Switzerland, either. You can’t take away his 15% tax rate, that he pays his army of tax lawyers to secure. Though if he has his way, he will find a way to reduce HIS tax burden the first chance he gets.
What made Romney so successful? He wasn’t managing other people’s money - like hedge fund managers do. He was a vulture (venture) capitalist - who looked to buy companies on the cheap, and resell them for a profit. In those situations you have to slash and burn the payroll in order to turn a profit, meet your goals and make your targets. By the sound of things he did just swell - and the unemployment rolls got bigger as a result.
A vulture capitalist does not create jobs, which is contrary to what Romney wants you to believe. A vulture capitalist feeds on the carcass of underperforming corporations. They look for management inefficiencies, and organizational deficiencies, within a corporation. More frequently than not, that triggers salary freezes or reductions, layoffs, and drastic belt tightening.
In Romney’s case, it also meant outsourcing jobs overseas. It happened in South Carolina, Florida, California, and Colorado.
A vulture capitalist who can fluently read a balance sheet and a cash flow statement, and has no idea what a middle class family goes through to put a meal on the table, is not qualified or prepared to be President. As WIllard Mitt Romney’s record of shipping jobs overseas comes to light, he is even less qualified than I imagined.
Do you think a plutocratic vulture capitalist and number cruncher is qualified to be President?
Nope. Not me.
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