As reported by Buzzfeed, at a campaign event at Hillsborough Community College’s Dale Mabry Campus in Tampa, Florida, President Obama riffed on a Washington Post article which revealed yesterday that while at Bain Capital, Romney… “pioneered” the outsourcing of jobs overseas:
“We’re going to reduce the deficit by $4 trillion. I have a detailed plan that will cut spending we can’t afford, strengthen programs like Medicare for the long haul, and reform our tax code in a way that’s fair and responsible. My plan will stop giving tax breaks to businesses that ship jobs and factories overseas, and start rewarding companies that create jobs and manufacturing right here in the United States of America. Now, not only does Governor Romney disagree with this plan, today it was reported in The Washington Post that the companies his firm owned were ‘pioneers’ in the outsourcing of American jobs to places like China and India. Pioneers! Tampa, we don’t need an outsourcing pioneer in the Oval Office. We need a President who will fight for American jobs and American manufacturing. And that’s what my plan will do.”
On the same subject, Stephanie Cutter shares Romney’s economic plan of eliminating US taxes on foreign profits of US companies and his career of shipping American jobs all over the world.
Priorities USA ad: Romney’s fuzzy math on jobs he supposedly created at Bain — This may seem like a “gotcha” gimmick, mocking Romney for his evolving I-once-caught-a-fish-this-big style of job-creation estimates, but it’s actually a very serious point.Indeed, Romney’s single most important claim as a candidate for the presidency is that he, during his private-sector career, was a “job creator.” If this isn’t true, his rationale for national office crumbles. And when a person making a bold claim can’t keep his story straight, it’s generally a strong hint that the claim is dubious. Bill Burton, a senior strategist at Priorities USA Action, told me this morning, “If [Romney] just released an accounting of the jobs gained and the jobs lost when he was at Bain, he could clear this whole controversy right up.” –Steve Benen
Obama super PAC launches Bain offensive – “Whether the companies they came in and worked with made money or not, was irrelevant. Bain Capital always made money,” Wells says in the ad. “If we lost, they made money. If we survived, they made money. It’s as simple as that.” Wells warns: “He promised us the same things he’s promising the United States. And he’ll give you the same thing he gave us: nothing. He’ll take it all.” […] The key message point in the Priorities ad is the argument that Romney and Bain were making money through a rigged game, in which they’d be sure to turn a profit regardless of how their acquisitions fared.
And here’s a video reminder on what kind of people would never be swayed by such “information” or “reality” when it comes to voting for anyone but the Republican (even Romney) on any presidential ticket:
INTERVIEWER: So, something’s not working here. TOOTHLESS GUY ON FOOD STAMPS: That’s right. INTV: Voting Republican hasn’t worked for you. TGOFS: But it could. INTV: But it hasn’t. TGOFS: It hasn’t but it could.
THAT’S SO BAIN! The Tampa Bay Times reports on yet another example of Mitt Romney’s “heads I win, tails you lose” business model: Millions of dollars in tax subsidies given to Bain-owned Dade Behring for creating jobs in Puerto Rico … after which the company shut down its Puerto Rico operations. […] Romney says he supports tax incentives at the state level, but note that this involved federal dollars—dollars that went to a Bain-owned company for creating jobs even though the company destroyed the jobs. Adding insult to injury: Romney’s firm “earned” $342 million on it’s $30 million Dade Behring investment, a profit of more than one thousand percent, even though it ended up firing 850 Floridians. — Jed Lewison
It’s not Bain’s duty to care about whether jobs are created or lost. But a plausible response to that statement is, well, do we want a guy who spent two-plus decades in the private sector not caring about whether he was creating or destroying jobs–but making jillions for himself while doing it–to be the president of the United States? Fair question. There are lots of Americans who don’t want a former community organizer as president. We’ve heard from them. But there are surely also a lot of Americans who don’t want a hedge-fund man as president. As with, say, Obama’s unconventional upbrining versus Romney’s quite conventional one, the two men represent and symbolize very different Americas. – Michael Tomasky | The Return of Bain Capital
Before Mitt Romney’s Bain Capital bought the rambling SCM factory in Marion, Ind., it was running three shifts a day, making hanging file folders and other office supplies. But on July 5, 1994, everything changed.
The new owner, American Pad & Paper, owned in turn by Bain Capital, told all 258 union workers they were fired, in a cost-cutting move. Security guards hustled them out of the building. They would be able to reapply for their jobs, at lesser wages and benefits, but not all would be rehired.
“We were told they bought the assets, not the union or the [labor] contract,” recalls Randy Johnson, who at the time worked as a machine operator and was a union shop steward. The workers – some the third generation in their families to have jobs there – eventually went on strike, and Bain closed the factory 5-1/2 months after acquiring it.
How many jobs did Mitt Romney create at Bain? The Romney camp has gone from claiming “over a hundred thousand jobs” to “tens of thousands of jobs” to this past week’s “thousands of jobs.” Steve Benen says: By next week, I expect Romney to tell us, “I probably created a handful of jobs.”
Mitt worked for Bain for over two decades, derived a personal net worth between $190 and $250 million, and now admits he created only THOUSANDS of jobs.
Can you imagine the plutocracy that Romney could create as president of the U.S. and one, true Corporate Defender? The final destruction of the middle class, the rich grabbing the rest of the redistributed wealth, the wages and indentured servitude that would be available to the working class, and the living conditions at the inevitable corporate-sponsored Thunderdome Camps™?