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Saturday, March 03, 2012

Mitch Romney is a Plutocrat

Everybody should have figured out by now that Mitt Romney is a plutocrat, a member of the 1%.
[A plutocrat is a member of the plutocracy, which can be defined as "government of, by and for the wealthy."]
Despite all Mitt Romney's puffery about "creating jobs" in the companies he ran, first Bain & Company and then Bain Capital, Romney made millions while laying off thousands of workers.
In point of fact, four of the 10 companies Bain Capital acquired while Mitt Romney was CEO declared bankruptcy within a few years, laying off thousands of employees.
Here are the facts, as written by Tanya Somanader in an article published on December 19, 2011:
Four of the 10 companies Bain acquired declared bankruptcy within a few years, shedding thousands of jobs. Not only does [Bain Capital] have a history of making millions by buying up and gutting companies, but Romney also secured a plush retirement deal from Bain that brought him “millions of dollars in income each year.”
[D]ocuments show that “Bain investors profited in eight of the 10 deals, including three of the four that ended in bankruptcy.” Indeed, the firm pointedly made higher profits “by firing workers, seeking government subsidies, and flipping companies quickly for large profits.”
Source: http://bit.ly/vPKpnZ%20
Now you know why Mitt Romney doesn't want to release his income tax returns, because if he did when he does, the American people will learn that he is filthy rich.
I happened to be watching Wolf Blitzer's Situation Room program yesterday and guest James Carville--who should know a thing or two about political campaigns--said that the Democrats are not going to let up on this issue--they they are going to chew on this issue like a dog on a bone--and that, sooner or later, Romney will be forced by public pressure to release his income tax returns.
Then, when Romney does finally release his income tax returns, the American people will learn the truth: that Mitt Romney is just another plutocrat who got rich by terminating the jobs thousands of Americans.
Jagor

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