If we listen to Mitt Romney speak we become acutely aware of the fact that he is promoting the same lie that has been promoted since the 70′s and that is that “trickle down economics” works. To quote him exactly,”When Companies do well we all do well.” The truth is when we have jobs the companies do well and we all do well.
It is a fact and has been since the beginning of an economy that wasnt totally dependent on agriculture in America, that consumers with discretionary spending is what makes economies better. When that income is robbed from the middle class,with” the right to work laws,” then the very people who have been the biggest consumers since World War II, are also unable to buy the products produced by American companies. When we don’t spend then companies fail. Business without consumer’s money do not ever create jobs.
Economist know as all of us should know that during times of a bad or slow economy that it is made worse when the spending stops. When we increase spending on intra-structures and highway building, with construction of new homes, or even with government helping out with foreclosures on our homes and with food stamps we give people the ability to eat or to spend again. Obama has tried to consistently pass the bills that would give jobs to the middle class while the Republican have refused to vote on them by filibustering.
Economies recover and grow if Congress pays on the deficit during a good economy and spends during a poor economy. It has worked to keep the deficits down since Democrats Roosevelt and Truman did so following the Great Depression and Democrat Clinton did in the 1990′s. The Congress have simply refused to pay on the deficit since George W. Bush took over the White House or to pay for two wars, when the economy was doing well, even when Bill Clinton handed the Republican majority a balanced budget and a surplus.
The Republicans make a lot of noise over balanced budgets when there is a Democrat President in office but have a history of doing nothing and not even so much as a whisper about it, when there is a Republican President in office and they are the majority. Even the media is silent on the lack of one in most cases. The last time that the Republicans balanced a budget under their own leadership was in the 1950′s under Dwight D. Eisenhower although they like to credit themselves with the Democrat President’s success to do so. A great deal of the hate against Bill Clinton and the Conservative’s attempt to dig up dirt on him was due to the fact that he balanced the budgets during both of his terms in the White House and was only the second President in history to do so.
Before any of us believe what Mitt Romney says and that is he and Bill Clinton think alike, make sure you hear what Bill Clinton says about that, before you believe a thing that Mitt Romney says. The Republicans tried to impeach Bill Clinton for heaven’s sake! Bill Clinton is not campaigning for Barack Obama because he thinks that Mitt Romney can make a better recovery of the economy than what President Obama’s administration is doing and that we can all be certain of.
Bill Clinton is also a big supporter of Obama’s healthcare program so is Romney lying on that as well when he says they think alike? Why is Romney telling the Billionaires that he will cut their taxes by 4.6 trillion and add it to the deficit if he plans on taking their taxes from 0 to 12% to 39% like Bill Clinton did, if the two of them think alike? They have absolutely no kind of history in common in their records of running government as history will tell us in the way that Mitt Romney ran the jobs creation into the hole in Massachusetts.
The need of the consumers being met with good wages, affordable housing, and discretionary spending is what builds economies. We can all be assured that Mitt Romney has no history at all in either government or his career experience of doing any of this. When the Tea Party governors are trying to run the Unions out of the States that guarantee the workers the fair wages by voting on the “right to work laws,” and Mitt Romney has promised his supporters, “I will eliminate the housing and development Dept.(HUD)when I am elected.” Then we should all understand the working poor and the middle class having fair wages backed by the Unions, controlled rents in reasonable markets,extra income over expenses, because we are the main consumers in America, will not happen under a Mitt Romney Presidency and businesses will and do cease to exist when we the consumers are denied a fair days pay for a days work. If you read my post “Mitt Romney and Bain Capital”, then we all understand why business begins hoarding money, as well.
“Trickle down economics has been a lie told to the American workers for so long that it has become the biggest lie told in America today. When Mitt says,” when companies do well we all do well,” he is totally wrong, as it is when we have jobs and discretionary spending then we all do well. When we have Corporations refusing to hire and instead hoarding their money to protect themselves against the Vulture Capitalist like Bain Capital then the economy fails.
The wealthy should invest in the middle class but instead they have been robbing from the middle class by not paying their fair share in taxes. Corporations are getting tax breaks from the Republican majority to invest over-seas, over investing to create more jobs for the working poor or middle class here.These same Corporations are being paid our income taxes to keep us employed, instead of it going to our individual States, and that is leading to our States going broke, so we are being hit twice by the Capitalism that is protected by Congress. In allowing Wall Street’s greed to grow, we the middle class get absolutely nothing out of “trickle down economics.”
Mitt and all the other Republicans have promoted the idea of “When Companies do well we all do well” since the beginning of Reaganomics. While their income has grown by 150% ours has fallen by 30% in the same time period.
It should have become very clear to all of us that we have been lied to for way too long by those who stand to profit the most. I assure you that it isn’t the working poor or the middle class who are the ones profiting when Corporations do well. Even with President Obama placing regulations back in place, Wall Street is doing as well now as they did during the Clinton years.
Regulations are not making companies unable to hire, as Mitt Romney claims, and that has been well proven by the Obama Administration. Regulations simply slows down the greed and makes it more difficult for Companies to default on their promises or loans. In short it makes the boards more responsible to the shareholders and makes it more difficult for them to ”throw the dice”, so to speak.
It is the tax incentives offered through the Obama Administration that is helping the Private sector, who are the ones hiring. They always have been the main job creators in America. Without us buying the products,making their products, and selling their products Corporations are left to invest in an effort to fend off the Vulture capitalists, and that is what is happening today.
The less income consumers have to spend the less Corporations need to create jobs. When the consumers over-seas and here at home are buying those products, and when we have discretionary cash to buy those products, because we have jobs that pay a fair days wage, then we will all do well again. Don’t let the Mitt Romneys, Republicans and Tea Party members of this world keep lying to us for another 40 years or America will truly be back to where it was at the turn of the twentieth century and that is with the middle class having been replaced, by the working poor and the rich getting even richer. Vote in November.