At the conservative gathering CPAC yesterday Presidential hopeful Mitt Romney said: “President Barack Obama has stood watch over the greatest job loss in modern American history. And that, my friends, is one inconvenient truth that will haunt this President throughout history.” In fact the data clearly show that the greatest job loss since the Great Depression began in January of 2008 under President George W. Bush (http://data.bls.gov/cgi-bin/surveymost?bls). Because of the financial irresponsibility of the people in power of both parties within our government and those in the so-called private financial sector, we found ourselves on the brink of a second Great Depression.
But it was Republicans who were still denying the problem until September 15, 2008 when Republican Presidential Nominee John McCain declared that "the fundamentals of our economy are strong” just as Lehman Brothers and Merrill Lynch were about to crater. Within days McCain called for putting a halt to campaigning so that he and Obama and others could get back to work as Senators and fix the problem. Obama said no way; a President should be able to multitask. Nevertheless, in the coming days they did both sit down with President Bush and many others, and through those meetings Congress passed in a bipartisan fashion legislation that proved to be a huge financial sector bailout known as TARP which Bush signed into law on October 3, 2008. The problem was so catastrophic that even this bailout package still did not prevent some major financial houses from collapsing.
The next month Barack Obama was elected President and he took office in January 2009, the absolutely worst month in recent recorded history for job loss. THE REAL INCONVENIENT TRUTH FOR ROMNEY AND THE REPUBLICAN PARTY IS THAT THIS FINANCIAL DISASTER HAPPENED ON BUSH’S WATCH WHILE THEIR CANDIDATE WAS ASLEEP AT THE WHEEL AND IT COST THEM THE2008 ELECTION.
Obama and the Democrats picked up the broken financial sector pieces and had to get the economy restarted with a series of stimulus plans which have been widely criticized by the Republicans who still seem to have deep pockets unlike the average American. Even today, while unemployment remains at historic highs, Republicans call for gutting social programs, and slashing taxes. On the other hand American corporations have trillions on the side lines which they remain unwilling to invest in new jobs because senior executives are making so much more investing it than they would by creating jobs.
Mitt Romney is a successful businessman who rose to prominence during the 1980s. He and his conservative friends call for tax cuts that will surely help the rich to amass even greater personal fortunes while they bankrupt our infrastructure from the federal to the local level. The social system that protects less fortunate citizens from their greed and avarice is being dismantled. “No new taxes” has become a mantra that the hegemonic rich have conditioned the poor to repeat, even though the person who is not a billionaire cannot live without taxes.
The middle class cannot sustain themselves when corporations are reducing their bottom lines by cutting jobs, or when their child has a serious illness that insurance does not cover. When Dad gets injured on the job it is tax dollars that provide that family a cushion through workman’s comp and benefits such as unemployment and help with his retraining so he can find a job after his on the job injury. It is taxes that pay for our schools and colleges where Mom, Dad and the children get the education they need to be part of the workforce of today and tomorrow. Taxes pay for our roads, our bridges and our police and fire, none of which can we live without in our modern society. And it is taxes that pay for the finest military in the world.
Perhaps a billionaire can supply his own military and can fly anywhere in the world to get the best health care. But he or she should expect to be taxed as a “payback” for the golden opportunity our society gave them to succeed, and to keep the dream alive for every American child irrespective of their background. Every American deserves the right to dream. For Mitt Romney and the Republicans, the inconvenient truth is that this payout to the “uber rich getting richer” crowd is deplorable. The top richest 400 in America are worth $1.4 trillion. Most increased their wealth significantly over the last two years while the rest of us were worrying if we would lose the roof over our heads.
Mitt Romney is worth about $200 million. Unlike Bill Gates and Warren Buffet who made their money through sweat equity, Romney, who claims his business prowess as the source of his wealth, was truthfully born the son of a rich man. Like George W. Bush, Mitt’s father George W. Romney gave his son every opportunity to make good, sending him to the best schools, extending him a helping hand from family and friends to get rolling in business.
Frankly it’s a wonder that neither Mitt nor “W” is worth more. Neither of them has ever suffered for lack of anything. Neither has ever worried about a roof over their heads. Neither made their fortunes through their own gumption, sweat and tears. No wonder neither one cares for paying the taxes that in one way or another help the majority of Americans to live, work and dream. What is remarkable is that how many Americans that benefit directly from taxes don’t even appreciate the fact. Instead they continue to “carry water” for the self indulgent rich.
In January Congresswoman Debbie Wasserman Schultz (1/2/11) said: "We were bleeding 750k jobs per month before President Obama took office and then last year we created over a 1,000,000,000 more jobs than the entire Bush Presidency. We need to continue that progress” Let’s continue that progress for America. Let the Republicans who honestly do care about America find fiscally conservative ways to care for their fellow Americans, to make our country healthy and stable again and to grow new jobs. Tax cuts for the rich? Blaming the financial misdeeds on Obama? For Romney and his bunch, that is inconveniently untrue.
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