Posts tagged ‘Vulture Capitalism’

11/04/2012

Undecided Voters: Economic Issues

The better choice on each issue is in the left column, indicated by a (D) for Democrat, (R) for Republican, or (N) for neither.

(D) DEFICITS AND DEBT: Which party has shown an ability to end deficit spending and produce surpluses? Reagan made drastic tax cuts for the rich in 1981 and 1986, and tripled the debt. Bill Clinton’s budget in 1993 was passed by Democrats, without a single Republican vote, and it led to surpluses. Little Bush cut tax rates again, started an optional war in Iraq, and failed to request taxes for it. He just handed a great recession to Obama. While right-wing Republicans control the House, and promise to spend more on the military, they stubbornly refuse to tax for it. There’s no reason to believe they are capable of managing the debt.

(D) TAXES IN GENERAL: Which party is more likely to implement fair tax policies that may correct the deficit and debt. Romney said he would not raise taxes. (1-8-12). He stated a desire to lower them even further. (1-16-12). He said we only need taxes for the military, nothing else. (1-7-12) With these extreme positions, he would never get close to correcting deficits and debt.

(D) TAXES: CAPITAL GAINS, DIVIDENDS AND INTEREST: Which party has the better position on taxes as to capital gains, corporate dividends, and interest income? Romney repeatedly said during the Republican debates he wanted to completely eliminate taxes on capital gains, dividends, and interest (9-7-11) (9-12-11) (9-22-11) (12-10-11) (1-16-12) He later said he would limit his plan to incomes of less than $200,000. (1-23-12) In either event, it’s unfair to people who pay taxes on earned income. His policies would either raise taxes on the Middle Class, or make the deficit and debt worse. He never explained how he would make up for the lost revenues.

(D) TAXES: PAYROLL: Which party is more likely to promote tax cuts for regular workers? Romney was dismissive of Obama’s ongoing payroll tax cuts, as he called them a band-aid (12-10-11)

(D) TAXES: CORPORATE: Romney advocated lowering the highest corporate tax rate from 35% to 25%. (11-9-11). This new loss of revenue would have to be made up by the Middle Class.

(D) TAXES: RETIREES & THOSE WITH SMALL INCOMES: Although everyone pays sales taxes, gas taxes, real estate taxes (as a part of rent), as well as other excise taxes, Romney said everyone (poor, elderly, etc.) should pay income taxes. (9-7-11).

(D) TAX RETURNS AND HIDDEN WEALTH: Why didn’t Romney disclose more personal income tax returns? Romney promised to release “multiple years.” (1-19-12). In the end, however, he only showed us two years. We don’t know if he is hiding something, or telling the truth. Gingrich said Romney lives in a world of Swiss and Cayman Island bank accounts (1-26-12)

(D) BUDGET, NATIONAL DEBT, MILITARY SPENDING: Romney said we need to stop spending like we have for the past 40 years. (1-8-12). He was critical about leaving debt to the next generation. (11-9-11). He claimed he would cut spending, but he didn’t explain how (11-9-11), except by saying he would ban earmarks. (2-22-12). Romney promises not to cut wasteful military spending, of any kind. (10-11-11). He wants 350 million for the F-22, more aircraft carriers, more Navy cruisers, more Air Force bombers, and more troops. (11-22-11). He would increase Navy shipbuilding each year from 9 to 15, and would add 100,000 troops. (12-15-11) (1-23-12) (2-22-12). He makes the case for the other side, saying Obama is shrinking the military (1-7-12) Romney thinks our Navy is smaller than it was in 1917, and our air force is smaller than it was in 1947. (1-16-12) (1-23-12).

(D) JOBS: Which party would be better for promoting jobs? Obama inherited a recession where unemployment reached over 10% in 2009. It is now down to 7.9% and the trend has been in the right direction the past three years. Romney incorrectly argued no jobs were created from the job stimulus bill (10-11-11) He said Obama’s polices worsened the job situation, which is obviously a false claim (1-7-12). Romney argues the government doesn’t create jobs (12-15-11), the private sector does (12-10-11), but then inconsistently blames Obama for not creating jobs.

(D) LABOR: Which party is more likely to protect the rights of working people? The National Labor Relations Board (NLRB) insures fairness between organized labor and management. Romney said he would curtail the NLRB (12-10-11), and would promote anti-union “right to work” laws throughout the U.S. (1-8-12) He repeatedly showed hostility towards the NLRB, by saying it was filled with “labor stooges” (1-8-12) (1-19-12).

(D) MINIMUM WAGE: Do you think Romney would ever promote an increase in the minimum wage? In one word: no.

(D) MANUFACTURING: Which party appears to be more interested in saving American manufacturing? The Republicans clearly opposed loans help GM and Chrysler get through the Great Recession. Over fierce opposition, Obama helped them. Had they gone through bankruptcy, the nation would now be reeling from the economic ripple effects. Obama took a gamble and succeeded.  Romney said funds should not have been used to bail out GM and Chrysler (10-11-11) Romney again said the auto bailout was wrong; they should have gone bankrupt. (11-9-11).

(D) AGRICULTURE: Romney would end farm subsidies as he said to let the markets work. (1-23-12). What he is actually promoting is a localized depression in Midwestern small towns.

(D) TRANSPORTATION/MASS TRANSIT: In one debate, Romney advocated improving the infrastructure, by rebuilding bridges, roads, rail beds and air transport systems. We can’t criticize him for that, but we should not forget his party harbors the likes of Gov. Walker of Wisconsin and Gov. Scott of Florida, who blocked mass transit proposals. So on transit, it appears the Republican Party will not help America enter the 21st Century.

(D) ENERGY: Who has the better energy policy? Romney wants energy security and independence by using our own resources (10-18-11 (1-7-12) (1-19-12) That’s a nice idea, but energy resources are fungible and are sold on world markets, so no nation controls them. Romney put emphasis on developing coal, oil, gas, and nuclear (9-7-11)(1-16-12) He’d give more permits for natural gas and oil drills. (12-15-11). He does not discuss solar or wind, but why not? Since Obama includes all energy resources, his policy is better.

(N) ANTITRUST: Has either candidate advocated antitrust lawsuits to break up companies too big to fail? No. Antitrust was a Republican idea in 1890, and prosecutions are now needed to break up the concentrations of power in the hands of a few.

(D) FEDERAL RESERVE: Romney claims Federal Reserve chair Bernanke pumped too much money into the economy (9-7-11), and he would discharge him. (10-11-11). He said Congress should have Fed oversight, but no control over the currency. (9-12-11). Since Romney is opposed to priming the pump through Monetary Policy, how would he have stimulated it?

(D) BANK BAILOUTS: At one point, Romney said he didn’t want to save the Wall Street banks, as Bush did (2-22-12). It appears he would have just let the system collapse, but if that had happened, we’d be in a deep depression right now.

(D) WALL STREET: Romney correctly pointed out the derivatives market was not regulated (1-23-12), but he failed to promote a regulation of it. He instead criticized those occupying Wall Street, by saying they were engaged in dangerous class warfare (10-18-11).

(D) HOUSING: Romney supported the Troubled Asset Relief Program (TARP) (10-11-11) (10-18-11) He accused Fannie and Freddie of offering mortgages to people who can’t afford them (1-26-12). He opposed the Dodd-Frank law, claiming it makes it harder for banks to make loans (1-7-12)(1-8-12).  He said the government should not stop the banks from foreclosing (10-18-11). He claimed Obama was holding off the foreclosure process, and argued we must let the market work (11-9-11) His non-solution solution is to block-grant housing vouchers (2-22-12).

(D) VULTURE CAPITALIST: If Romney wins, he’ll be the first President with a vulture capitalist background. He claims to have successfully operated businesses (12-15-11), but he was really a Bain investor, who just made money for himself and his partners. Gingrich accused him of profiting by stripping American businesses of assets,  bankrupting companies, and laying off workers (1-7-12) Romney said they had to be downsized (1-7-12) Gingrich said Romney’s Bain looted companies and left people unemployed (1-8-12). Gingrich said he was engaged in vulture capitalism. (1-16-12). In an interesting contradiction, while discussing tax returns, Romney said his income came from a blind trust. He said the money I earn: “is not made by me.” (1-26-12).

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01/16/2012

Republican Debate: New Hamp (1-7-12)

QUALIFICATIONS: Huntsman repeated he lived overseas four times and managed two American embassies, one in China. Santorum mentioned his eight years on the Armed Services Committee, as qualification for Commander-in-Chief.

TERROR: Santorum said Obama is trying to make the war on terror politically correct by removing the words “radical Islam” from every defense document.

DEFENSE: Santorum argued government has a role to play in defense. Romney accused Obama of wanting to shrink the military, and Perry said he is cutting 1 billion in defense spending.

MILITARY SERVICE: Paul, who was drafted and served when he was young, noted 40,000 were seriously injured in our recent wars, while 8,500 died, and those who received 3, 4 or 5 deferments and did not serve, have no right to send our kids off to war. Gingrich said during the Vietnam War, he was married and never requested a deferment. He claimed he was somehow ineligible for the draft. Paul said when he was drafted, he went despite being married with two children. Romney, who received several deferments during Vietnam, finds it extraordinary that only a few families are paying the price for freedom.

AFGHAN: Huntsman said we drove the Taliban from power in Afghanistan, ran al Qaeda out into sanctuaries, held free elections, and eliminated bin Laden. It is time to come home and stop nation-building. He thinks a civil war is around the corner. He would leave behind only Special Forces and 10,000 troops for intelligence gathering. Romney would listen to the generals on the ground, and without reason, said he would wait until 2014 to withdraw. Huntsman said we deferred to the generals in 1967 and did not get good results.

IRAN: Paul said he does not want Iran to get a nuclear weapon, but putting sanctions against Iran will only lead to the unintended consequence of pushing them into the hands of China. Romney accused Obama of not imposing crippling sanctions against Iran. Santorum wants to help the revolutionaries in Iran as he called the situation the most pressing issue of the day. Gingrich worries more about the closing of the Straits of Hormuz, since one of six barrels of oil flows through it every day.

IRAQ: Perry wants to send troops back into Iraq now. He worries Iran will enter Iraq. Romney would not now send troops to Iraq.

TRADE: Romney said China and European states opened 44 different trade relationships with various nations around the world. We have to do the same for American goods, claiming Obama not. He also said China manipulates their currency and if you artificially hold down its value, you make your products lower-priced and kill American jobs. Huntsman said its nonsense to think you can slap a tariff on China your first day in office as Romney would do. He said Romney would take us into a trade war where we would get tariffs in return that will hurt our exports. Romney said China does not want a trade war, because they sell more to us than we sell to them. He would hold China to free and fair trade rules. Gingrich said we cannot compete with China with an inferior infrastructure.

VULTURE CAPITALISM: Gingrich accused Romney of making spectacular profits by stripping American businesses of assets, selling everything to the highest bidder, and killing jobs for big financial rewards. He opposed leveraged buyouts, where money is taken out and workers are left behind. He said Bain bankrupted companies and laid off employees. Romney said companies must downsize before turning around and making a success. Bain invested in over 100 businesses, he said, and on balance claimed 100,000 jobs were added. Steel Dynamics in Indiana added thousands, Bright Horizons 15,000, Sports Authority 15,000, and Staples 90,000. Romney said sometimes they were not successful.

MANUFACTURING: Huntsman thinks we can win back investment and have a manufacturing renaissance.

FINANCE: Paul thinks we are in a 40-year financial bubble which is bursting and we must liquidate the debt. Romney opposed the Dodd-Frank bill.

CLASS WAR: Santorum said there are no classes in America; there are middle income people

JOBS: Romney hopes the economy is turning around, because there are 25 million unemployed or who stopped looking. Obama’s policies have made the recession deeper, he argues. Perry wants New Hampshire to pass a right-to-work law, and Paul said Santorum voted against right-to-work laws.

REGULATIONS: Perry thinks Americans want less regulation.

ENERGY: Romney said our policies keep us from using our own energy. Perry wants to open up federal lands and waters to more domestic energy drilling, so we are not hostage to countries hostile to us. Gingrich wants an energy plan free of Saudi Arabia, Iran and Venezuela. Santorum served on a coal company board.

TRANSPORTATION: Gingrich said we must make investments, because we cannot complete with China with an inferior infrastructure. Romney advocated improving our infrastructure by rebuilding bridges, roads, rail beds, and air transport systems.

HEALTH: Romney opposed Obamacare. Huntsman said he reformed health care in Utah, without an individual mandate. Paul said Santorum voted for the Prescription drug program.

EDUCATION: Paul said Santorum voted to double the Dept of Education.

SOCIAL SECURITY: Santorum said he voted for SS reform.

BUDGET/DEBT: Paul said Santorum is a big government person who voted to raise the debt ceiling five times. For the past 26 years, Paul voted against appropriations bills. Perry wants to get rid of what he called corrupt spending. Santorum said increases in the debt ceiling have happened for 200 years.

TAXES: Huntsman would eliminate 1 billion of loopholes in the tax code. He implemented a flat tax in Utah, and said the Wall St Journal endorsed his tax plan. Santorum would keep only the deductions for health care, housing, pensions, children, and charity.  He would cut corporate income tax in half, down to 17.5%. He claims the 35% rate is the highest in the world. Romney said we must have some taxes to pay for our military, but noted government has grown from 27% in JFK’s day to 37% now. He repeated a pledge to eliminate taxes on interest, dividends and capital gains. Perry thinks Americans want less taxation.  Gingrich would reduce capital gains to zero, corporate income tax to 12.5% and he would abolish the death tax. He would allow 100% expensing for all new equipment.

TERM LIMITS: Huntsman wants Congressional terms limits.

DISCRIMINATION IN LEGAL SYSTEM: Paul said the legal system discriminates, as it arrests and imprisons blacks for drug offenses far more than whites. They get the death penalty more often, he added.

CONTRACEPTION: Santorum believes there is no constitutional right to privacy, and states have a 10th Amendment right to ban contraception. After being directed to Griswold v Conn (1965), in which a state law banning contraception was challenged, Romney doesn’t think any state today wants to ban contraception.

ABORTION: Romney said Roe v Wade (1973) was not decided correctly because he thinks the issue should have been left to the states. He wants the ruling overturned.

PRIVACY: Paul correctly informed everyone the 4th Amendment contains privacy protections. Santorum agreed there is a right to privacy in the 4th Amendment.

GAYS: Huntsman, married 28 years with 7 children, thinks civil unions are fair. Santorum said gay marriage is not a federal issue, but marriage itself is because we need one law on the topic. We cannot have someone married in one state, and not in another. He wants a federal law that bans adoption for gay couples. Romney would amend the constitution as to gay marriage. Gingrich said gays ought to be able to designate friends in their last will or who can make hospital visits, but not through marriage, which should be reserved to one man and one woman. Perry favors a constitutional amendment defining marriage as between one man and one woman.

COLLEGE FOOTBALL: Gingrich, Santorum, Romney all got it wrong when they said in succession if they were not debating they would be watching the championship college football game. The game was actually not on until a few evenings later.

12/22/2011

Republican Debate in Iowa (12-15-11)

PAUL ON IRAN: What is happening regarding Iran, Paul said, is no different than the 2003 propaganda as to Iraq. There is no proof Iran has nuclear weapons. There is no UN or IAEA report with evidence. Why do we have 900 bases in 130 countries? Why are we flying drones over Iran? Why do we bomb so many countries? They may want to harm us, because we bomb them, not because of what we believe. They would not attack Switzerland or Sweden for what they believe. Sanctions are an act of war. They could lead to economic calamity, if oil is kept from Europe. The greatest danger is Presidential overreaction and a bombing of Iran. Even Israel’s Head of Security said it wouldn’t make sense to bomb Iran. While we don’t want to see Iran with nuclear weapons, it’s dangerous to declare war on 1.2 billion Muslims. Paul said when he was drafted in 1962, the world was dangerous, but as nuclear missiles were sited in Cuba, Kennedy talked Khrushchev down, and we avoided a nuclear exchange. We lived through the Cold War with 30,000 missiles pointed at us, and we shouldn’t jump the gun now. We just don’t need another war, Paul said.

OTHERS ON IRAN: Romney called Obama weak regarding the spy drone incident. Perry would have destroyed or retrieved the drone, but Obama did neither. Bachmann believes Iran will use nuclear weapons to wipe out Israel and attack the U.S. She believes an IAEA report says Iran is just months away from obtaining the bomb. Santorum thinks Iran has been at war with us since 1979. They tried to assassinate a Saudi Ambassador, and they make IEDs that kill our soldiers. He called them a radical theocracy. If they had nuclear weapons, it wouldn’t be like the Cold War, since they believe in martyrdom. He made the ridiculous argument: “they don’t hate us because of what we do, or the policies we have, they hate us because of who we are, and what we believe in.” He said we should work with Israel ro plan strikes against their facilities. Gingrich said the Iranians plan to close the Straits of Hormuz.

FOREIGN POLICY: Paul would adopt a pro-American foreign policy, which is the opposite of policing the world. Huntsman wants a policy driven by economics, which leaves the Cold War behind. Perry said we should assert the Monroe Doctrine as to Iran, Venezuela, and Mexico, like we did in the 60s with Cuba.

CHINA: Huntsman was questioned about a 22% tariff China imposed on U.S. sport utility vehicles, but he sidestepped it saying we need shared democracy, human rights, and religious toleration.

IRAQ: Bachmann said Obama intentionally chose to lose the peace, and Iran will now become a dominant influence in Iraq.

LATIN AMERICA: Santorum said Obama embraced Chavez and Ortega, and thinks jihadist training camps are working with drug cartels in Latin America, planning assaults on the U.S.

MILITARY: Romney wants to increase the number of Navy ships built each year from 9 to 15. He said we need another 100,000 military troops, but he did not explain how he would get them.

SYRIA: When Perry was asked if the U.S. should intervene in Syria, he said he supports a No-Fly-Zone, because he says they are attached at the hip to Iran, and we need to stand with Israel.

ISRAEL: Gingrich said 200 missiles were fired at Israel this year. He neglected to say how many strikes Israel made against others.

UN: Gingrich called the UN a corrupt institution that beats up on our allies. He would not fund it and would dramatically reduce our reliance on it. He claimed UN camps are training grounds for terrorism, and their textbooks are funded by the UN. Huntsman said the UN serves useful peacekeeping-humanitarian purposes, but noted they have anti-American and anti-Israel sentiments.

IMMIGRATION: Romney promised an ID card for legal aliens to use when applying for jobs, along with E-verify checks. If employers hire without the card, serious sanctions would apply. He would send illegals to the back of the line. Perry said the El Paso border is not safe. Gingrich suggested a loss of tax deductions for those who hire illegally. He would drop the lawsuits against AZ, SC and Alabama. Huntsman would not pander to Hispanics, adding illegals are down due to the economy. He reminded us legal immigration is a growth engine.

JOBS: Romney said 25 million Americans are out of work, but the government doesn’t create jobs, the private sector does.

MANUFACTURING: Romney said manufacturing will come back to the U.S., but he did not explain how. Santorum thinks manufacturing is not competitive and tax rates should be lowered to zero and regulations should be repealed.

VULTURE CAPITALISM: Romney claimed he successfully ran Staples, Bright Horizons Children’s Centers, and an Indiana steel mill. Some of the 100 different businesses he was involved with laid people off, but they also added tens of thousands of jobs. When Obama took over GM, he said, dealerships were closed, and he had the same experience. Gingrich accused Romney of making millions by laying off people and bankrupting companies. He appeared confused when he suggested electric coops and credits unions are government sponsored institutions.

HOUSING: Bachmann accused Gingrich of taking 1.6 million from Freddie Mac to influence Republicans into keeping the scam going. Gingrich did not deny earning 1.6 million and he said he liked “government sponsored enterprises” like Freddy Mac, because they made home ownership more affordable. He thinks it’s a conservative principle to help families buy homes. He now would break up Fannie Mae and Freddie Mac. Paul said government sponsored enterprises received excessive credit from the Fed under the Community Reinvestment Act. Money comes from taxpayers, and when they go broke, we bail them out. Huntsman complained of banks that are too big to fail.

ENERGY: Romney said we have energy resources and should give out permits to drill for natural gas and oil. Gingrich said the Keystone Pipeline from Canada to Houston will bring oil to the U.S. and create 20,000 American jobs. If not, the Canadians will send it to Vancouver, where it will be shipped to China. Huntsman wants to use natural gas to get rid of our heroin-like addiction to imported oil. Bachmann criticized Obama’s moratorium on Gulf drilling and supports Keystone. She thinks Obama opposes it, because he would lose the support of radical environmentalists.

HEALTH: Huntsman said he delivered on health care reform in his state, without a mandate.

BUDGET & TAXES: Paul said the budget is out of control because of earmarks, which he never voted for. He said there are two factions; the warfare group that wants cuts in welfare; and the welfare group wants to cut warfare. He would eliminate 1 billion in spending from the federal budget in the first year. Romney said the debt is now 15 trillion, and the President racked up as much as all others combined. Huntsman as governor delivered on a flat-tax, and refused to sign a no-tax-hike pledge. Perry supports a Balanced Budget Amendment and wants tax policies that help business become competitive. Bachmann pledged no new taxes, because we’ve been taxed enough. We cannot spend more than we take in.  Gingrich claimed to have balanced the federal budget and paid off 405 billion in debt.

JUDICIARY: Gingrich would subpoena judges before Congress as to controversial decisions and would impeach them. He said the courts have become dictatorial, too powerful, and arrogant. Jefferson abolished 18 of 35 federal judges in 1802. He thought it absurd to view the Supreme Court as supreme. Lincoln repudiated Dred Scott in 1861. Bachmann said the Founders wanted courts to be the least powerful branch. They do not have power to make law. She would appoint only judges who believe in the original intent of the Constitution. Paul said Congress can get rid of courts, but he questioned Congressional authority to subpoena judges, as this would violate the Separation of Powers. When Romney was accused of appointing Democrats to be judges in Mass., he said a 7-member council made the appointments. He promised to appoint prosecutors. He said Congress should not oversee judges, because they have less credibility. Perry’s favorite justices were Alito, Roberts, and Thomas. Romney added Scalia. Gingrich and Bachmann liked all four. Huntsman limited himself to Roberts and Alito. Paul said all of them have good and bad features. Perry called for a part-time Congress and a 50% cut in their salaries.

GAYS: Romney opposed discrimination against people based on sexual orientation. He also opposed same-sex marriage. Santorum said Romney issued gay marriage licenses, but Romney explained the Mass Constitution required him to do so.

GUNS: Romney signed an assault weapons ban, but is now pro-gun.

ABORTION: Romney changed his mind on abortion, saying he was a pro-choice governor, but realized he was wrong when he vetoed an embryo bill. He is now pro-life. Santorum, who is 100% pro-life from conception to death, said Gingrich could have defunded Planned Parenthood, but he chose not to. Gingrich insisted he has a 98.5% pro-life record. He said life begins at conception, when embryos are conceived. They should be regarded as life and not experimented with. He opposes partial-birth abortion.

RELIGION: Gingrich complained of a 9th Circuit ruling that said “one nation under God” in the Pledge of Allegiance is unconstitutional. He called the judges anti-American.