To describe the following as clueless is actually an insult to the clueless.
“I do believe we should take action to keep the economy from falling into a recession,” Romney told reporters when asked if a stimulus package was needed. “We do need to forestall the growing credit crisis and the subprime mortgage crisis.”
“We need tax stimulus of the nature that will propel growth and at the same time provide capital for our markets given the credit crunch,” Romney said. On the campaign trail, he has urged eliminating taxes on savings for middle income families that earn $200,000 or less.
Do note what he’s saying with this. He’s talking about cutting taxes on savings…which roughly translates into cutting taxes on dividend income. And that would be the money people make off of stocks. So if you cut dividend income, that usually means that people then reinvest more of that money back into the markets.
And when Romney says, “provide capital for our markets given the credit crunch,” what he really means is that because the banks have SO overextended themselves and can’t borrow any more money to save their asses, we should make it easier for investors to put that money back into the system so the banks can, well, overextend themselves again. Because after all, we’d never actually try to REGULATE their behavior or punish their gross negligence. No, that would be anti-business…
By the way, how would he pay for this? Any idea? I’ll take a wild guess and predict that Romney will propose cutting social programs. Because honestly, who needs those?
So at the end of the day, Romney is really talking about a giveaway to the wealthy which would then benefit the super wealthy. That’s all this is. That’s his “stimulus” package.
Folks, this makes absolutely ZERO sense for the people in the middle class who really need a tax break, and it only serves to further the idea that the super wealthy can keep “failing up.” You know, it’s that thing that so many CEOs are doing these days when they leave their companies in tatters, but get an insane severance package which could probably pay for half the jobs that have to be cut out of the payrolls so the company can actually stay afloat.
Please Mitt, go sell class warfare somewhere else.