It is interesting to see Romney equivocate on so many issues like Mr. Flim Flam. His entire career he made money buying companies … forcing middle class employees to take huge pay cuts with a loss in benefits in order to maximize the profitability for Bain’s investors. That is of course if he decided not to ship those jobs off to another country. As the Washington Post has reported – Bain made significant investments in firms that specialized in shuttering American plants and shipping those jobs off to India or China. Romney is now calling that “offshoring” instead of “outsourcing”. I actually don’t think the American people are stupid enough to buy that response; that is quite literally one of the stupidest political responses I have ever heard in my life.
Krugman writes HERE:
Now, if the Romney campaign really believed in its own alleged free-market principles, it would have defended the right of corporations to do whatever maximizes their profits, even if that means shipping jobs overseas. Instead, however, the campaign effectively conceded that offshoring is bad but insisted that outsourcing is O.K. as long as the contractor is another American firm.
That is, however, a very dubious assertion.
Consider one of Mr. Romney’s most famous remarks: “Corporations are people, my friend.” When the audience jeered, he elaborated: “Everything corporations earn ultimately goes to people. Where do you think it goes? Whose pockets? Whose pockets? People’s pockets.” This is undoubtedly true, once you take into account the pockets of, say, partners at Bain Capital (who, I hasten to add, are, indeed, people). But one of the main points of outsourcing is to ensure that as little as possible of what corporations earn goes into the pockets of the people who actually work for those corporations.
To understand Mitt Romney’s impact on people’s lives…you can hear it directly from workers who lost everything because of Bain Capital HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE and HERE.
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