Romney's Economic Plan Relies on Magic, Not Math

Romney's Economic Plan Relies on Magic, Not Math

Joseph Stiglitz has a decent résumé. He won the Nobel Prize in economics and served as chairman of Bill Clinton’s Council of Economic Advisers before being named chief economist of the World Bank. His C.V. , however, pales before his passionate commitment to pushing for economic policies that help the poor and powerless — inside and out of the United States. For Stiglitz, economics and social justice can’t be separated.

Since the election of Barack Obama, Stiglitz has also been something of a thorn in the side of the current administration, consistently critiquing the White House for falling short. He wasted no time in pointing out that Obama’s stimulus was too weak and his housing policy woefully ineffective — and he’s been particularly biting on the topic of Obama’s subservience to banking interests. But with Election Day fast approaching, it’s always useful to look at what the other guys would do, instead. Stiglitz took some time out to explain to Salon why, when the topic is economy, there’s really no choice for progressives in this election.

What’s at stake in this election for the U.S. economy?

Quite a lot. First, there’s what we call the macro-economy. The budget cuts that Romney/Ryan propose will certainly slow growth. If the European downturn continues that could tip us into a recession. The cuts certainly won’t provide the kind of stimulus that Obama’s jobs bill, for instance, pushes. Romney’s plan is based on magic: Just because he gets elected, the economy is supposed to take off. There is no evidence that anything like that would happen. Quite the contrary — I think the opposite would happen. The business community would see the cutbacks coming and that would itself cause a slowdown in the economy.

So that’s the macroeconomy. Secondly, the Romney/Ryan budget promises to spend more on the military while cutting taxes and cutting the deficit, and that means only one thing. If you look at the arithmetic, it means less investment in infrastructure, R&D, education … it just can’t add up any other way. And that means we’ll be growing more slowly in the future.

The irony is that these two things — lower growth now and lower growth in the future — means that our debt-to-GDP ratio won’t improve, it will get worse. So even if you were foolish enough to think that the debt-to-GDP ratio is the main determinant of future prosperity — which it’s not — the Romney agenda will fail.

And although I don’t like what’s called “presidential economics,” where you look solely at what happens under a particular presidential regime, the fact is that Romney has many of the same economic advisers that Bush did. Those economic advisers essentially doubled the debt in eight years. And that was in a period of relatively high growth. Why would we think that wouldn’t happen again? I don’t see any reason for that. Particularly when the global environment is more adverse.

And then the third part has to do with what kind of society we will be. If Romney wins, we will become a more divided society, a more unfair society. And that in turn will bring greater inequality, and will also undermine our growth.

Your most recent book is titled “The Price of Inequality.” Conservatives are pushing back, however, at the very idea that inequality is growing. One of Romney’s advisers just published an Op-Ed in the Wall Street Journal declaring, basically, that because everybody has a cellphone and an HDTV now, we’re better off than we were 10 years ago.

A lot of people living in shacks in South Africa also have cellphones and TVs, but that doesn’t mean they have an adequate standard of living — adequate nutrition or access to adequate healthcare, adequate life expectancies …

In any case, when we measure inequality we take into account the fact that the prices of some things go down while the prices of other things go up. That’s what we call “real income” — adjusting for those prices. And median household real income today is lower than it was 15 years ago.

You’ve made the negative case for how the economy will suffer if Romney is elected. Is there a positive case to be made for Obama? You’ve been one of the people on the left most critical of Obama’s efforts on the economy. Why should progressives vote for him now?

I think the main reason, quite honestly, to vote for him is that if he loses there could be a major step backward in every aspect. Not the least important of which is the importance of the Supreme Court, which would affect inequality of political power, as with the Citizens United case. The Court will also rule on basic human rights, gender rights, discrimination, things I think progressives should care a lot about.

But in terms of the economy, while I’ve been critical, there still has been progress in an awful lot of areas. Less progress than there should have been, less progress than was promised, but progress all the same.

Where do you see that progress?

Healthcare. Access to healthcare for everybody is an important step. It wasn’t the kind of deep reform that one would have liked where you would have done something about the pharmaceutical industry and health insurance industry and so forth, but it did result in increased access and that was terribly important. In education, getting the banks out of student loans saved $80 billion over 10 years. That’s a big deal. So while the housing program …

I was about to ask, what have been your biggest disappointments?

Housing policy has been a big disappointment. But compared to Bush, who didn’t do anything, and the Republicans, who haven’t proposed anything — Romney has been totally silent on the issue — at least Obama did something. So I am disappointed, but it represents a small step forward rather than zero. And I am worried that under Romney we will go back to the kind of deregulatory environment where we allow the banks to exploit our homeowners once again.

Looking ahead, are there things Obama could do that would represent a real step forward, rather than just consolidate what has already been achieved, or simply prevent going backward?

There aren’t many magic bullets, but let me talk about a couple things. Obviously, more progressive taxation — getting rid of the distortionary provisions in corporate welfare, special treatment of capital gains, carried interest — would make our economy more efficient and less unequal.

Conservatives seem to think if they try the same failed policies over and over again with different faces those regressive policies will magically work eventually.

How Fox News Created a New Culture of Idiots. Just a caution that this article makes some good points about how Fox has dumped down the news, but there is some strong language.

Last-Minute Ohio Directive Could Trash Legal Votes And Swing The Election

Want an Incoherent, Unsubstantial, Banal Elitist Airhead For President, Vote Romney

Want an Incoherent, Unsubstantial, Banal Elitist Airhead For President, Vote Romney

Mitt Romney has nothing really coherent or substantive to say about domestic policy, but at least he can sound energetic and confident about it. On foreign policy, the subject of Monday night’s final presidential debate, he had little coherent to say and often sounded completely lost. That’s because he has no original ideas of substance on most world issues, including Syria, Iran and Afghanistan.

During the debate, on issue after issue, Mr. Romney sounded as if he had read the boldfaced headings in a briefing book — or a freshman global history textbook — and had not gone much further than that. Twice during the first half-hour, he mentioned that Al Qaeda-affiliated groups were active in northern Mali. Was that in the morning’s briefing book?

At other times, he announced that he had a “strategy” for the Middle East, particularly Iran and Syria, and really for the whole world, but gave no clue what it would be — much like his claim that he has a plan to create 12 million jobs and balance the budget while also cutting taxes, but will not say what it is. At his worst, Mr. Romney sounded like a beauty pageant contestant groping for an answer to the final question. “We want a peaceful planet,” he said. “We want people to be able to enjoy their lives and know they’re going to have a bright and prosperous future and not be at war.”

He added that the United States “didn’t ask for” the mantle of global leadership but was willing to wear it. We wondered what Ronald Reagan would have thought of that.

Mr. Romney’s problem is that he does not actually have any real ideas on foreign policy beyond what President Obama has already done, or plans to do. He supports the planned withdrawal from Afghanistan — and was quick to insist on Monday night that he would pull out by 2014. He thinks there should be economic sanctions on Iran, and he thinks the United States should be encouraging Syrian opposition forces that seem moderate. Mr. Romney said he would work with Saudi Arabia and Qatar on this, but those governments are funneling arms to the jihadist groups that he says he abhors.

The president kept up the attack at virtually every opportunity, showing no sign of the oddly disconnected Barack Obama who lost the first debate. When Mr. Romney called for spending more money on the military than the United States can afford or the military wants, Mr. Obama moved in: “You mentioned the Navy, for example, and that we have fewer ships than we did in 1916. Well, Governor, we also have fewer horses and bayonets.” Mr. Romney tried to revive the Republican claim that Mr. Obama conducted an “apology tour” at the start of his presidency, which Mr. Obama correctly called “the biggest whopper” of a campaign that has been filled with them. And he took a dig at Mr. Romney’s recent world travels. “When I went to Israel as a candidate,” he said, “I didn’t take donors, I didn’t attend fund-raisers.”

Mr. Romney tried to say that the president had “wasted” the last four years in trying to stop Iran’s nuclear weapons program. But Mr. Obama said, “We’ve been able to mobilize the world. When I came into office, the world was divided. Iran was resurgent. Iran is at its weakest point, economically, strategically, militarily.”

Mr. Romney tried to set himself apart from Mr. Obama on Iran, but ended up sounding particularly incoherent. At one point he said he would indict President Mahmoud Ahmadinejad on genocide charges. He gave no clue how he would do that; like many of his comments, it was merely a sound bite.

Mr. Obama hit Mr. Romney hard on his ever-shifting positions on world affairs, including comments he made in 2008 disparaging the idea that killing Osama bin Laden should be a priority. “You said we should ask Pakistan for permission,” Mr. Obama said. “If we had asked Pakistan for permission, we would not have gotten it.”

Mr. Romney’s closing statement summed it all up. He said almost nothing about foreign policy. He moved back to his comfort zone: cheerfully delivered disinformation about domestic policy.

To the conservative movement it doesn't matter that Romney is just a plutocrat who is way out of his depth. What matters is that Romney has promised the radical anti-American right-wing conservatives He will be even more right-wing than Bush. That together he and Ryan will finally destroy safety net programs like Medicare and Social Security because only evil communists provide for the health and well being of the elderly and disabled.

Inside Bain's Chinese Sensata Factories (they used to be in Illinois), Where Workers Put in 12-Hour Days for $.99-$1.35 an hr

Corporate profits up under Obama

S&P 500 up under Obama

Dow industrial up under Obama

Why The Charge That Obama Is ‘Anti-Business’ Is Ridiculous, In Three Charts

Sleazebag of the Week: Oversight Committee Chairman Darrell Issa (R-CA)

Sleazebag of the Week: Oversight Committee Chairman Darrell Issa (R-CA)

Issa posted 166 pages of sensitive but unclassified State Department communications related to Libya on the committee's website afternoon as part of his effort to investigate security failures and expose contradictions in the administration's statements regarding the Sept. 11 attack on the U.S. mission in Benghazi that resulted in the death of Amb. Christopher Stevens and three other Americans.

"The American people deserve nothing less than a full explanation from this administration about these events, including why the repeated warnings about a worsening security situation appear to have been ignored by this administration. Americans also deserve a complete explanation about your administration's decision to accelerate a normalized presence in Libya at what now appears to be at the cost of endangering American lives," Issa and Rep. Jason Chaffetz (R-UT) wrote today in a letter to President Barack Obama.

But Issa didn't bother to redact the names of Libyan civilians and local leaders mentioned in the cables, and just as with the WikiLeaks dump of State Department cables last year, the administration says that Issa has done damage to U.S. efforts to work with those Libyans and exposed them to physical danger from the very groups that had an interest in attacking the U.S. consulate.

"Much like WikiLeaks, when you dump a bunch of documents into the ether, there are a lot of unintended consequences," an administration official told The Cable Friday afternoon. "This does damage to the individuals because they are named, danger to security cooperation because these are militias and groups that we work with and that is now well known, and danger to the investigation, because these people could help us down the road."

One of the cables released by Issa names a woman human rights activist who was leading a campaign against violence and was detained in Benghazi. She expressed fear for her safety to U.S. officials and criticized the Libyan government.

"This woman is trying to raise an anti-violence campaign on her own and came to the United States for help. She isn't publicly associated with the U.S. in any other way but she's now named in this cable. It's a danger to her life," the administration official said.

Another cable names a Benghazi port manager who is working with the United States on an infrastructure project.

"When you're in a situation where Ansar al-Sharia is a risk to Americans, an individual like this guy, who is an innocent civilian who's trying to reopen the port and is doing so in conjunction with Americans, could be at risk now because he's publicly affiliated with America," the official said, referring to the group thought to have led the Benghazi attack.

One cable names a local militia commander dishing dirt on the inner workings of the Libyan Interior Ministry. Another cable names a militia commander who claims to control a senior official of the Libyan armed forces. Other cables contain details of conversations between third-party governments, such as the British and the Danes, and their private interactions with the U.S., the U.N., and the Libyan governments over security issues.

"It betrays the trust of people we are trying to maintain contact with on a regular basis, including security officials inside militias and civil society people as well," another administration official told The Cable. "It's a serious betrayal of trust for us and it hurts our ability to maintain these contacts going forward. It has the potential to physically endanger these people. They didn't sign up for that. Neither did we."

One administration official accused Issa of doing harm to the investigation for the sake of creating negative news stories days before the final presidential debate, which will focus on foreign policy. In previous investigations, Issa has acknowledged and respected the need to protect information that could be important to completing the administration's own investigations, the official noted.

"He's trying to gather all the facts, but he's blurting out all the evidence before the State Department and FBI investigation is done," the official said.

As usual Issa and his staff of professional knee benders have tried to shift blame, saying hey no one told us not to release this information marked "sensitive". Republicans can never be the party of values until they learn the basics about responsibility. They're like bratty kids who cannot be trusted to play without supervision. Five Good Reasons to Vote Democrat in 2012

Conservative Romney Supporters show loyalty to China, contempt for American workers.

CBS News Notes Evidence Undermines Right-Wing Charges Of An Administration "Cover-Up" On Libya

Desperate Republicans Threaten Employees for Votes - Another CEO Threatens To Fire Employees If Obama Wins

Desperate Republicans Threaten Employees for Votes - Another CEO Threatens To Fire Employees If Obama Wins

Last week, billionaire CEO David Siegel, who runs a timeshare empire, threatened to fire employees if President Obama is reelected in November, saying in an email, “the economy doesn’t currently pose a threat to your job. What does threaten your job however, is another 4 years of the same Presidential administration.”

And Siegel is not alone in pushing his employees to cast their vote a certain way. MSNBC’s Chris Hayes reported today on another CEO — Arthur Allen of ASG Software Solutions — who said in an email to his employees that they’d only have themselves to blame if they lose their jobs if Obama wins. The email reads, in part:

    Many of you have been with ASG for over 5, 10, 15, and even 20 years. As you know, together, we have been able to keep ASG an independent company while still growing our revenues and customers. But I can tell you, if the US re-elects President Obama, our chances of staying independent are slim to none. I am already heavily involved in considering options that make our independence go away, and with that all of our lives would change forever. I believe that a new President and administration would give US citizens and the world the renewed confidence and optimism we all need to get the global economies started again, and give ASG a chance to stay independent. If we fail as a nation to make the right choice on November 6th, and we lose our independence as a company, I don’t want to hear any complaints regarding the fallout that will most likely come. [...]

    I am asking you to give us one more chance to stay independent by voting in a new President and administration on November 6th. Even then, we still might not be able to remain independent, but it will at least give us a chance. If we don’t, that chance goes away.

Watch Hayes’ report:

In These Times also reported today that a company owned by billionaire right-wing activists David and Charles Koch sent pro-Romney mailers to its employees. The mailer gives a veiled warning that, if Obama is reelected, “then many of our more than 50,000 U.S. employees and contractors may suffer the consequences, including higher gasoline prices, runaway inflation, and other ills.”

What do all the whiny two faced elitist billionaires in this news have in common? They have historic levels of wealth. They have more wealth than kings of old monarchical Europe and Asia. Yet they are complaining about what? That they want more, they must have more and if they do not get more it is the end of the world as we know it. They're worried more about inflation than creating jobs. They're worried they might have a little less power if we have  Supreme Court that says corporations are not people. If right now, the USA is such an awful place, why don't they pack up and move. Their combined wealth they could certainly buy their own country.

The Koch Brothers Sent Employees a List of People to Vote For

A Guide to Statistics on Historical Trends in Income Inequality. The rich have gotten very very rich.

Conservatives have values, it is just that most of the time they are evil values, Top Romney Surrogate Says Romney ‘Should Be Exploiting’ Libya Incident For Political Gain

Mitt Romney and Family Are Not Capitalists, They're Looters and Plutocrats

 Mitt Romney and Family Are Not Capitalists, They're Looters and Plutocrats

Marc Leder, a wealthy investor, played host to Mitt Romney last May at a private fundraiser at his $4 million home in Boca Raton. Little did Leder know at the time, however, that someone would videotape the event and later leak it to the world, revealing the GOP standard-bearer in the act of caustically dismissing 47 percent of the country as too “dependent upon government” even to consider voting for him this year.

Leder attempted to duck the ensuing storm of media attention, telling Fortune that he had simply “hosted a fundraiser for an old friend.” But Leder’s ties to the candidate run deeper than campaign contributions or an old friendship. As an investor, he is part of a network of links to the Romney family business empire that will acquire enormous relevance if the GOP nominee manages to ascend to the White House.

In 2008, soon after Romney ended his first bid for the presidency, his eldest son Tagg and his chief fundraiser, Spencer Zwick, formed Solamere Capital, a private equity firm named after the exclusive community in Utah where Romney owned a vacation ski lodge.

What Tagg lacked in experience in the world of high finance, he made up for with a vast network of political connections forged through his father, who seeded the firm with $10 million and was the featured speaker at its first investor conference in January of 2010. Romney also reportedly gave strategic advice to the company, which secured prominent campaign donors as some of its first investors.

Unlike most private equity firms dedicated to analyzing and buying companies, Solamere specializes in something else: billing itself as a “fund of funds” with “unparalleled networks,” it provides investors with “unique access” to an elite set of other private equity firms and hedge funds. Sun Capital Partners, the fund founded by Leder, is one of at least thirteen Romney-linked firms in Solamere’s network, according to a prospectus circulated among potential investors and uncovered by The Boston Globe last year. Solamere also has an investment relationship with Bain Capital, the pioneering fund founded by Mitt Romney.

Solamere, a firm predicated on its founders’ relationship with Romney, presents a channel for powerful investors to influence the White House if he wins. Private equity executives looking to lobby a Romney administration may very well have a leg up if they are already doing business with the firm that the president created for his son.

Requests for comment from a Solamere representative for this article were not answered.

The looming conflicts range from general matters that affect all private equity firms—such as tax changes or the new rules mandated by the Dodd-Frank financial reform bill—to more specific concerns relating to businesses owned or controlled by Solamere’s partner firms. Many of these businesses, in fact, depend on government contracts; indeed, some have been accused of fleecing taxpayers (which is ironic given that many private equity titans claim to support Romney for his unabashed belief in small government and free enterprise). A Romney administration could directly affect the profitability of these companies—and, by extension, potentially the success of Tagg’s venture.

“It’s absolutely a conflict of interest,” says Adam Smith, the communications director for the group Public Campaign, which works on issues concerning money in politics. “Romney can’t un-know that his son’s investment company could benefit financially from his policies. And the other investors—many of whom are likely Romney campaign donors—will have extra access and influence in a Romney administration.”

* * *

Take Leder, Romney’s Boca Raton host, whose Sun Capital firm bought a stake in the Scooter Store last year. The company, known for its ubiquitous television ads promising seemingly free motorized wheelchairs for Medicare beneficiaries, has struggled as the Centers for Medicare and Medicaid Services, the federal agency that governs the programs, implements rules to curb rampant billing fraud. As a CMS report noted last year, 80 percent of the claims for scooters and power wheelchairs did not meet Medicare requirements, meaning that $492 million a year is being improperly spent.

In 2007, the Scooter Store gave up $13 million in Medicare payments and paid $4 million to settle with the Justice Department over allegations that it had overbilled for its electric wheelchairs. The company, which has been bleeding money over the years as regulators moved to curb waste, still faces challenges that could make or break its business model—challenges that could be mitigated by pressure from the executive branch.

A Romney administration, for example, would have a role in the fate of a recently launched pilot program ensuring that patients see a doctor face to face to determine if a Medicare scooter is medically necessary—a program that has reportedly already reduced billings to the Scooter Store. Another challenge for the company is Section 3136 of the Obama administration’s Affordable Care Act. If Romney wins and repeals significant portions of the ACA, would he retain this provision, which compels Medicare to have a competitive bidding process for motorized wheelchairs?

Leder, who has donated nearly $300,000 to Romney and other Republicans in this campaign and another $225,000 to a pro-Romney Super PAC, didn’t respond to a request for comment. Disclosures, however, suggest that pressuring the government is the only way his investment in the Scooter Store can turn a profit.

Since Leder’s firm invested in the Scooter Store, the company has spent nearly $900,000 on lobbyists to push back on these two latest challenges to its motorized-scooter empire. Lobbyists not only try to influence legislation; they are also paid to gather information. Tips about government regulatory decisions can be as good as gold to investors who can act before the information is public knowledge. But what if the company had the ultimate lobbyists: the president’s oldest son, brother and personal fundraiser?

The Birth of Solamere

Shortly after his father conceded the Republican nomination to John McCain in 2008, Tagg Romney and Spencer Zwick went to dinner at a San Diego resort with John R. Miller, the CEO of National Beef Packing Company. The pair had a proposition for Miller: that he should invest in their new business venture.

Miller, who has served as a top fundraiser in both of Mitt Romney’s presidential campaigns, signed on and even became an operating partner at Solamere. The scene, recounted earlier this year by The New York Times, is one of the precious few details made public about Solamere’s investment portfolio and client list, both of which are kept secret.

What is known has been drawn largely from a trail of documents filed by the investment group. Records indicate the firm was incorporated at the same Boston office where Romney’s campaign headquarters had been located, and later shared an office address with Romney’s PAC.

Zwick first worked for Romney during the Winter Olympics in Salt Lake City. A student at Brigham Young University at the time, he has been at Romney’s side ever since, serving on his campaigns, working as an aide and leading his fundraising efforts since 2007. He has been referred to as Romney’s “sixth son.” And by all accounts, he’s one of the most trusted advisers in Romney’s circle. “When you’re talking to him, you know he’s got the ear of the candidate,” one Romney donor remarked to the press.

Two weeks after Romney’s concession speech in February 2008, Solamere Capital registered with the State of Massachusetts. Zwick and Tagg joined with Eric Scheuermann, a former Jupiter Partners executive, as the three managing partners of the firm.

Scheuermann was the only one with prior experience in private equity; Zwick had none, and Tagg’s previous experience ranged from working at the Monitor Group, an international consulting firm, to sports marketing jobs with Reebok and the Los Angeles Dodgers.

However, success for the firm seemed preordained. A press release the following year hinted at the type of assistance Solamere was enjoying from the Romney network. It announced that Lee Scott, the former Walmart CEO, was joining the firm as an operating partner. Eric Fehrnstrom, Romney’s longtime press aide, was listed as the contact name on the release. The former Walmart chief’s entry came after G. Scott Romney, Mitt’s brother, signed up as an adviser with the firm. So did Matt Blunt, the former Republican governor of Missouri.

Solamere surpassed its $200 million fundraising goal with help from an elite set of “high net worth” individuals, many of whom are close Romney allies. Meg Whitman, the former eBay executive, current Hewlett-Packard CEO and Republican gubernatorial nominee in California two years ago, invested with Solamere (and her son scored a job at the firm). Two Romney donors, L. Scott Frantz, an investor and Connecticut state senator, and Mark Chapin Johnson, the CEO of a medical supply company, were also among the sixty-four investors to entrust Solamere with their money.

As a managing partner of Solamere, Tagg stands to make millions of dollars. The three managing partners will receive $16.8 million in management fees over the first six years, as well as “performance-based incentive” pay, according to a filing with the Securities and Exchange Commission.

Little is known about the exact investment decisions at the firm. A tax return filed by Mitt and Ann Romney, made public in September, showed that Solamere has used an array of Cayman Islands entities to reduce its investors’ tax liability on its income. Rebecca Wilkins, a tax expert with Citizens for Tax Justice, says that Solamere likely uses “blocker corporations” to help its tax-exempt investors avoid paying the unrelated business income tax.

It seems that Tagg has taken after his father, whose former firm Bain Capital also uses these offshore structures. Most of the offshore entities do not have to file a tax return in the US or anywhere else in the world, making them an ideal shelter for Solamere’s investors, says Wilkins. “To me, the most egregious part of this is that they’re facilitating tax evasion.”

A complaint filed in August with the US Office of Government Ethics argues that Mitt Romney’s investment portfolio violates the Ethics in Government Act because so much of his money rests in opaque funds, like private equity firms and limited partnerships. The law states that presidential officeholders must disclose their investments and their investments’ underlying assets worth more than $1,000. The law, however, carries an exemption for qualified blind trusts.

In June, the Romney campaign announced that if he’s elected, the candidate would move his assets into a federally qualified blind trust, and would also likely sell off any assets that “are not fully compliant with federal disclosure and other rules applicable to the office of the presidency.” But if Romney wins, there’s almost no chance that the underlying assets of his son’s firm, Solamere, will be revealed. Solamere could have assets involved in healthcare, energy, telecommunications or any number of other industries, but the public will be left in the dark.

According to Republicans they're all risk takers that build stuff. Pull back the curtain and they're just mostly lazy pigs feeding at the trough.

How The Media Used Biden's Smile To Deflect From Ryan's Dishonesty

At The Vice Presidential Debate: Ryan Told 24 Myths In 40 Minutes. Ryan arrived thinking that it was not a debate, but a race to see how many falsehoods and bizarro conservative talking points he could spew. Ryan should not be vice president or a congressman or allowed anywhere near government. He is barely qualified to walk a dog much less govern this great country.

Why Does millionaire hedge-fund manager, the Anti-American Robert Mercer and his pal Republican House candidate radical Randy Altschuler Hate America

Why Does millionaire hedge-fund manager, the Anti-American Robert Mercer and his pal Republican House candidate radical Randy Altschuler Hate America

Robert Mercer, the millionaire hedge-fund manager has been a consistent funder of right wing causes. In recent years, the co-CEO of Renaissance Technologies has bankrolled an Islamaphobic effort to stop a Muslim Community Center in New York City, given $1 million each to the pro-Mitt Romney Restore Our Future super PAC and Karl Rove’s American Crossroads, and spent $200,000 on ads against Rep. Peter DeFazio (D-OR), an advocate for more regulation of hedge funds. Now, public disclosure forms reveal he is the main benefactor for a new super PAC helping to elect New York Republican House candidate Randy Altschuler.

Prosperity First Inc. registered in April as a super PAC and reported on its July quarterly report that it had raised $635,500 in its first three months in operation. Of that, a whopping $500,000 came from Mercer. Until this weekend, it was unclear what Prosperity First would do with the money. Friday, the group reported its first $273,472 independent expenditure — an ad supporting Altschuler. This expenditure — the vast majority of which was funded by Mercer — is in addition to a pair of $2,500 contributions directly from the hedge-fund millionaire to Altschuler’s official campaign. In the post-Citizens United world, wealthy donors like Mercer can legally circumvent the legal limits and attempt to buy elections for their favorite candidates.

Why would Mercer spend so much to elect this candidate? After narrowly losing in 2010, Altschuler is again challenging Rep. Tim Bishop (D-NY). One key difference between the two candidates is their view on Wall Street regulation: Bishop voted for the Wall Street Reform and Consumer Protection Act of 2009 (commonly known as Dodd-Frank), while Altschuler blasted the law as a “flawed piece of legislation” that would “kill jobs and shrink tax revenues for New York State.” Renaissance Technologies did not much like the bill’s regulations for hedge funds — the company has spent over $1 million since the start of 2010 on federal lobbying including a significant focus on Dodd-Frank’s hedge-fund provisions.

Altschuler promises that if elected, he would “roll out the red carpet” for businesses like Renaissance Technologies, instead of “red tape.” He says he will make the elimination of what he calls “job-killing government regulations” a priority. Altschuler’s let-business-do-whatever-it-wants approach would probably be good for the bottom line for hedge-fund millionaires like Mercer — though they would likely not be so good for consumers anxious to avoid a repeat of the 2008 financial sector meltdown. For a person who earns $125 million in one year, the Supreme Court’s effective elimination of campaign finance limits may have made buying a House seat — or several — a legal and doable proposition.

The USA lost about $17 trillion dollars in wealth from 2007 to 2008 thanks to anti-American sleazebags like Mercer and Altschuler. If they hate America so much, if things are so terrible here for millionaires, they can afford to move to anywhere they like.

2012 Republican National Convention Is Proving What Patriotic Americans Already Know, Republicans Have The Values of Pond Scum

2012 Republican National Convention Is Proving What Patriotic American Already Know, Republicans Have The Values of Pond Scum

1. The "You didn't build that" deception. By now, Obama's rhetorical trip-up on the campaign trail is the stuff of legend, because in the construction of a series of sentences, Obama left an opening for Romney and his allies to suggest that the president meant something entirely different from what he said. At a campaign stop in Roanoke, Va., Obama said that a business owner's success requires government investment in infrastructure such as roads and bridges. "If you've got a business, you didn't build that," he said -- meaning, quite clearly, the roads and bridges. Republicans, however, pulled the quote from its context and ran with it. And Romney is determined to carry that ball to the finish line.

Never mind that even mainstream media have repeatedly refuted the meaning falsely imparted to the president by Romney and company. As of Tuesday night, the Obama quote was altered even further in the "Hands" videos to make it seem that he was shaking his brown finger in the face of lighter-skinned business owners: the audio track takes the words, "Let me tell you" from earlier in the speech, and sets them just ahead of the out-of-context quote to make it sound like this:

    "Let me tell you, if you've got a business, you didn't build that."

Here's the actual quote in its entirety, with the Romney edit in bold:

    "There are a lot of wealthy, successful Americans who agree with me, because they want to give something back.  They know they didn’t -- look, if you’ve been successful, you didn’t get there on your own.  You didn’t get there on your own.  I’m always struck by people who think, well, it must be because I was just so smart.  There are a lot of smart people out there.  It must be because I worked harder than everybody else.  Let me tell you something – there are a whole bunch of hardworking people out there.

    If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life.  Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business. you didn’t build that. Somebody else made that happen.

2. The welfare lie. The Department of Health and Human Services recently announced that it would consider providing waivers to states from the implementation of welfare-to-work requirement in the Temporary Assistance to Needy Families program if the states could demonstrate that they had a more effective means of helping welfare recipients find work. Romney has seized upon this announcement to claim that Obama is "gutting welfare reform" and eliminating the TANF work requirement -- a blatant lie that has been reported as such by many news outlets.

If facts actually mattered to the Republican Party, and truth-telling actually mattered to Romney, that would have put an end to the promulgation of the lie. But when a lie feeds a false but effective narrative about a black president and welfare, Romney and his allies apparently can't bear to give it up.

Several convention speakers took up the theme, most notably Rick Santorum, who said:

    "And this summer [Obama] showed us once again he believes in government handouts and dependency by waiving the work requirement for welfare."

Artur Davis, the former Alabama Democrat turned Virginia Republican, put it this way:

    Bill Clinton took on his base and made welfare a thing you had to work for; this current crowd guts the welfare work requirement in the dead of night.

Davis' part in promoting the lie is especially sweet for the G.O.P. Because he's African American, he provides a certain amount of insulation from charges of racism, despite the obvious racial dog-whistle to those voters who see welfare as a black thing.

3. The "dependency" lie. The Republicans have found a useful corollary to the welfare lie in their invention of a Democratic dependency doctrine, which sells the false idea that Democrats deliberately seek to make people dependent on government benefits as a means of winning votes. It flows from the Republicans' emerging producerist narrative, which was a staple of the racist rants of President Andrew Jackson -- the idea that the world is inhabited by "makers" and "takers," with the "takers" characterized as anybody outside of one's own constituency.

The most juvenile articulation of this steaming pile of prevarication was delivered by radio host and former actress Janine Turner, who followed up a Ben Franklin quote with this:

    Patrick Henry said, "Give me liberty or give me death." Today Obama enables an entitlement society that says, "Give me liberty and gimme, gimme!"

    Why? Because Democrats depend on dependence.

Wisconsin Gov. Scott Walker, whose entire political career is a creation of the Koch brothers' Americans For Prosperity enterprise, chimed in with this description of the outcome of progressives' attempts to recall [7] him from the governor's mansion after he gutted labor protections for public employees and slashed the education budget:

    On June 5th, voters in my swing state were asked to decide if they wanted elected officials who measure success by how many people are dependent on the government, if they wanted leaders who believe success is measured by how many people are not dependent on the government, because they control their own destiny in the private sector. ( there are three more examples at the link)

Republicans are real worked up over someone down on their luck getting $4 a day in food assistance until they get back on their feet. In contrast they think its great that America's largest corporations and billionaires get billions in subsides from the capital created by American workers. It is not just the 2012 RNC convention, the entire conservative movement is based on a foundation of lies, just like every radical authoritarian movement in the last 120 years..

Why do Republicans hate science based facts- Todd Akin (R-MO) Claims Breast milk Cures Homosexuality

Paul Ryan stands on a foundation of lies. If there was a way, a humane way, to make Ryan tell the truth or be rendered mute, he would not be able to talk.

Romney-Ryan Have an Economic Plan For America. It looks a Lot Like The Plan of 17th Century French Aristocracy

Romney-Ryan Have an Economic Plan For America. It looks a Lot Like The Plan of 17th Century French Aristocracy

For Capitalism and Democracy to Survive America Must Let Go of Economic Policy that Entrenches Poverty, Coddles the Wealthy

For Capitalism and Democracy to Survive America  Must Let Go of Economic Policy that Entrenches Poverty, Coddles the Wealthy

As much as they claim to loathe government, right-wing policy makers adore government assistance to the nation’s superrich.

The economic policies, including weakened regulation of the financial industry, pushed by a party that has become behold to the superrich ushered in the Great Recession and the gaping economic inequality that the nation seems to be slowly awakening. Yet likely not fast enough. The number in poverty is on track, The Associated Press reported in July, to reach “levels unseen in nearly half a century,” and wiping out gains to lessen poverty that were seen in the 1960s. These economic policies center on tax cuts for the wealthiest, dwindling social services, along with weak regulation of the financial industry.

“The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year,” Columbia Business School Professor Joseph Stiglitz wrote last year. “In terms of wealth rather than income, the top 1 percent control 40 percent.”

Stiglitz noted in the same article how woefully out touch the wealthiest are – they can take care of themselves just fine and are numb to the plight of a family of three that must somehow survive on an annual income of less than $38,000.

So what can be done to reverse the situation? It appears rather hopeless, since the superrich are also the most powerful and have been able to keep alive the economic policies that have benefited them at a great cost to everyone else. During this year’s ACS National Convention Peter Edelman, a Georgetown University law school professor and longtime advocate for the nation’s most vulnerable said the shrinking middle class must become far more vocal in calling for an end to disastrous economic policies.

In a recent op-ed for The New York Times, Edelman , also chair of the ACS Board, said we know “what we need to do – make the rich pay their fair share of running the country, raise the minimum wage, provide health care and a decent safety net, and the like”

But to do all those things, Edelman said the people in the middle must vote in way that represents “their own economic self-interest.” In other words the middle class needs cease identify with the super wealthy. As long as people in the middle identify more with people on the top than with those on the bottom, we are doomed,” he wrote.

In his Times’ op-ed Edelman sounds a positive note, citing the Progressive era and actions following the Great Depression, in the effort to push economic policies that advance the fortunes of many people.

But the work is daunting. The nation’s social safety net, as Edelman and others have long noted has taken a beating due to right-wing economic policy. In his new book So Rich, So Poor, he details the devastating impact to minorities and single parents that a tattered social safety net has wrought.  

Stiglitz noted a year ago in his Vanity Fair article that the powerful few often stand in the way of policy that would improve the lives many more people. But they do so at their peril. “The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live,” he wrote. “Throughout history, this is something that the top 1 percent eventually do learn. Too late.”

Why does how many of the middle-class identify with the interests of the 1%. Some studies have shown that many of the middle-class think that some day if they work hard they will be part of that 1%. Yet the data suggest the chances of moving up the economic ladder - something Americans took for granted from the FDR administration through at least the 1990s - is no longer the norm. Because politicians cater to the 1% that is how economic policy is slanted.

Poor guy who dared punk Chik-fil-A over its hateful policies was fired and is getting death threats.

Rupert Mudoch's Anti-American Fox Evening News Show Lies About Military Voting In Ohio. A new conspiracy myth that Obama is trying to keep the military from voting early. A complete lie. Ohio has tired to make it harder for seniors, students and minorities to vote and that is a violation of federal law.

I can describe Mitt Romney’s tax policy promises in two words: mathematically impossible.

The Mystery Candidate For King of America, Mitt Romney

The Mystery Candidate For King of America, Mitt Romney

Presidential candidates try as best they can to control their public image. But by modern standards, Mitt Romney has taken his quest for secrecy to extraordinary lengths. Here's all there is to know about what we don't know about Romney.

His Old Emails

Reporters looking for emails and other records from Romney's tenure as Massachusetts governor are out of luck.

In the final months of Romney's four-year stint as governor, as the Boston Globe reported, 11 of his top staffers purchased the hard drives in their government-issued computers, preventing state archivists from accessing any of their emails. In its final days, the Romney administration also replaced computers and scrubbed state government servers of all the administration's emails. As the top attorney for Romney's replacement, Deval Patrick, put it: "The governor's office has found no e-mails from 2002-2006 in our possession."

The Romney administration did turn over to state archivists hundreds of boxes of records, including memos, emails, and other communications among state agencies and cabinet members. However, the boxes containing those records were hand-picked and given over voluntarily by Romney's staff. It stands to reason that any embarrassing or revealing information—say, internal planning or deliberations about Romney's universal health care legislation—did not make it into the Romney administration's record dump.

Pam Wilmot, the director of Common Cause Massachusetts, the Bay State affiliate of the good-government lobbying group, says no previous administration went to the same lengths as Romney's to keep its communications secret from reporters and the public. "In retrospect, there does seem to be a substantial difference between [Romney's] administration and other administrations on transparency," Wilmot says.

Offshore Accounts

Mitt Romney might not see anything wrong with putting his money into offshore investment holdings to avoid US taxes, but he hasn't been especially keen on letting the public know how much he's done it. According to a recent story by the Associated Press, Romney failed to include more than 20 investment holdings on his federal financial disclosure reports. Of those, at least seven were in foreign countries.

The only reason the public knows about these financial instruments now is that Romney, under duress, finally released his 2010 tax returns, which showed the existence of dozens of investments, many of which were never included on his state or federal disclosure forms. Among them was Sankaty High Yield Asset Investors Ltd., which is based in Bermuda, a notorious tax haven. Romney used Sankaty, which he owned, as his partnership stake in many Bain Capital deals in the late 1990s. Sankaty was involved in Bain's takeover of Domino's Pizza and also controlled 50,000 shares of Global-Tech Appliances, the Chinese appliance firm that profited handsomely from the outsourcing of American jobs.
Romney never listed his ownership of Sankaty on Massachusetts disclosure forms when he ran for governor. And then, in 2003, Romney transferred Sankaty to his wife's trust the day before he was sworn in as governor of Massachusetts. The transfer did not have to be made public, and it allowed him to keep the investment secret by describing it in disclosure forms as simply part of a blind trust that held "various investments and securities," according to AP.

Romney's 2010 tax returns show that Sankaty doesn't have any assets at the moment, but tax experts told AP that it could still be used for future tax benefits with his remaining Bain investments. But he has refused to answer any questions about why he still has the Bermuda company, or what he plans to do with it.


Bundlers

The Obama campaign returned $200,000 dollars in February after the New York Times discovered it had been raised by two men whose brother was angling for a presidential pardon that would exonerate him for fraud and drug-related criminal charges. Despite the president's pledge not to take money from lobbyists, several of his big bundlers are connected to special interests in Washington. Former New Jersey governor Jon Corzine was one of Obama's biggest bundlers, but he has since come under investigation and the campaign has returned the money.

The reason we know all this is that Obama, like every other recent presidential candidate, discloses his bundlers—those well connected elites with the social ties to raise huge sums of money for their preferred candidate while getting around regulatory limits on how much one person can give. Romney runs ads attacking Obama as a "crony capitalist" for supposedly rewarding his most generous campaign contributors, but he will not say who his own bundlers are. Romney is not required by law to do so—but previous candidates have.


"Since bundling became one of the prominent means of raising money, the presidential candidates of the two main parties have released that list," says Meredith McGehee, policy director at the Campaign Legal Center, a group that supports campaign finance reform. "It's hard to assess who are the real kingpins in [the Romney] campaign."

Romney's stance makes it hard for voters to figure out what his donors might want in exchange for their cash, argues Kathy Kiely, managing editor of the Sunlight Foundation Reporting Group, which reports on transparency and campaign finance issues. "If someone's running for public office, the voters have an interest in knowing who's writing the big checks and how much they're writing," Kiely says. "If nobody knows that this person, or this company, has written you a seven-figure check, it makes it a lot easier to do them a favor."

Mitt's Correspondence Gap

George Romney, Mitt's father, relished the letters he exchanged with his four children. The elder Romney's archives—nearly 450 boxes of letters, clippings, microfilm, and more held at the University of Michigan—include a trove of letters between him and his children who were at college, on their Mormon missions abroad, or who had moved out of the family home.

Romney wanted details on everything: from his children's academic progress to their living arrangements and even their love lives. In a November 3, 1959, letter, Romney writes to Scott, then an undergraduate at Stanford University, that he was "always interested in the girls you are dating." George Romney continues, "Have you looked up that little blonde girl over at church—the Driggs girl?…Are there any good-looking Mormon girls going to Stanford?" In another letter to Scott, Romney chides his son for failing to maintain regular correspondence, a source of annoyance for Scott's mother, Lenore.

Yet all but absent from the Romney archives is correspondence with Mitt. The lone letter of note is one from Mitt to his parents while Mitt worked in France as a missionary. The letter's cheery tone belies the fact that Mitt had nearly died in a car crash one month earlier near the village of Beaulac. The wife of Duane Anderson, president of the Mormon mission in France and a mentor for Mitt, died from injuries sustained in the crash.

In the letter to his parents, Mitt writes that his missionary work "is going really well." He ends by urging his parents to share "his letters" with his siblings, suggesting that other letters exist. But those other letters aren't included in the Romney archives.

George Romney's archives span the years 1939 to 1973. It's unclear why so few of Mitt Romney's letters made it into his father's archive, or who possesses the letters today. What is apparent is that, in the sole public archive that his beloved father wanted the public to remember him by, Mitt is glaringly absent.

Tax Returns

Romney has released only one year of tax returns, and has said last year's return, once finalized, is as much as he's willing to disclose. He fears that the information in previous years' returns could be used against him by Democrats: "The opposition research of the Obama campaign is looking for anything they can use to distract from the failure of the president to reignite our economy," he told National Review. "I'm simply not enthusiastic about giving them hundreds or thousands of more pages to pick through, distort, and lie about."

Partisan attacks may be a risk of Romney releasing more tax returns—but his eschewing transparency raises questions about what the GOP candidate wants to hide. Previous presidential candidates have released multiple years of tax returns, either during the presidential race or prior runs for public office.

"If you don’t want people…to be suspicious, be open about it, and if you don’t want to be open about it, why are you running for public office?" Kiely says. "You've made a contract with the public: 'I'm asking you to trust me, so I should put my stuff out there.' So to the extent you're not doing that, I think it raises suspicions."

IRA Details

According to financial-disclosure firms he's filed, Romney's Individual Retirement Account—a tax-advantaged retirement plan—is worth at least $20.7 million and as much as $101.6 million. It grows tax-free. But it's unclear how Romney's IRA grew so large. The annual limit for contributions to an IRA is currently $17,000, which employers can match if they choose. The limit for personal and matching contributions combined was around $30,000 per year when Romney was at Bain, suggesting that the most he could have put into his IRA was around $450,000. But his IRA could be worth 200 times that. (Even if Romney released several years worth of tax returns, it may not explain why his IRA grew so large.)

Some financial and tax experts believe Romney may have used a complicated, highly technical tax dodge called a "blocker corporation" to get such a large amount of money into the IRA. Others have suggested that Romney put in some of his partnership shares in Bain Capital itself and valued them at zero because they represented future income—another obscure tax maneuver unavailable to most Americans. It's impossible to know for sure, because, as with so much else, Romney won't talk about it.

All of this sleazy behavior is fine with conservative Republican voters. Look back at the history of who conservatives vote into Office: Nixon- Watergate/self sabotaging peace talks with the North Vietnamese. Reagan - Iran-Contra ( using arms smuggling profits to make for hostage release), the HUD scandals, the second worst recession since 1929. They voted in known criminal Rick Scott as governor of Florida. They believed every lie Bush 43 told about Iraq even though there was plenty of information available that said he was greatly exaggerating and lying. Conservatism is the culture of moral corruption, so of course morally corrupt candidates don't bother conservative voters. It even seems that the sleazier their candidates are the more they like them. There is nothing remotely patriotic about that.

The Pravda Chanel or as some call it, Fox News is "Doubling Down" On Deceptively Edited Comments

Fox News accused President Obama of "doubling down" on comments they helped characterize as "insulting" to business owners, but in doing so, Fox itself doubled down on its campaign to strip Obama's statements out of context to further a political agenda.

Obama spoke at a campaign event and pointed out how benefits such as American infrastructure factor in the success of small businesses. Fox deceptively edited the president's remarks to accuse him of telling small business owners that if they have a business, "you didn't build that."

This morning, Fox returned to the scandal they helped to manufacture, reporting that Republican presidential candidate Mitt Romney called Obama's comments "insulting" to business owners. Fox then turned its sights on another campaign event and accused President Obama of "doubling down." Here's the portion of the remarks that Fox chose to play as evidence:

    OBAMA: We did not build this country on our own. We built it together. And if Mr. Romney doesn't understand that, then he doesn't understand what it takes to grow this economy in the 21st century for everybody.

But the only way these comments can be portrayed as doubling down on an insult to business owners is to completely strip them of context. In the portion of Obama's speech that Fox chose to ignore, it's clear that he  explicitly touted the "drive and ingenuity of Americans who start businesses" as crucial to "what makes us such a robust dynamic economy." Here is what Obama actually said:

    OBAMA: As I said, I believe with all my heart that it is the drive and ingenuity of Americans who start businesses that lead to their success.  And by the way, that's why I've cut taxes on small businesses 18 times since I've been President.  (Applause.)  I believe the ability for somebody who is willing to work hard, and sweat and sacrifice to turn their idea into a profitable business, that's what makes us such a robust, dynamic economy.  We prize that.

    But I also believe that if you talk to any business owner -- small or large -- they'll tell you what also helps them succeed alongside their hard work, their initiative, their great ideas, is the ability to hire workers with the right skills and the right education.

    What helps them succeed is the ability to ship and sell their products on new roads and bridges and ports and wireless networks.  What helps them succeed is having access to cutting-edge technology, which like the Internet often starts with publicly funded research and development.  (Applause.)  And what helps them succeed is a strong and growing middle class, so they've got a broader base of customers.

Why is every Republican with access to the media distorting President Obama's reality based comments? Simple, conservative cannot win elected office without lying. That should tell every American something about the deep moral corruption and anti-Americanism of the Republican movement.

Jewish Voters, Republican Chutzpah

Morally Bankrupt Republican Media Still Pushing Its Discredited Take On Obama And Small Business

Morally Bankrupt Republican Media Still Pushing Its Discredited Take On Obama And Small Business

Fox News is characterizing President Obama's response to the Fox-manufactured "you didn't build that" controversy as "damage control." This comes after Fox promoted its deceptively edited clip for days -- and after independent fact-checkers have discredited attacks on Obama based on the deceptive editing.

Fox Claims Obama Campaign In "Damage Control" Mode

On-Screen Text: "Obama Campaign Steps Up Damage Control Over 'You Didn't Build That' Remark." During the July 26 edition of Fox News' America Live, host Megyn Kelly reported that President Obama's campaign released an ad responding to Mitt Romney's distortion of Obama's "you didn't build that" comments. On-screen text during the segment read: "Obama Campaign Steps Up Damage Control Over 'You Didn't Build That' Remark.'"

[Fox News, America Live, 7/26/12]

Fox's Kelly Suggests That "The Damage" From Obama's Comments "May Be Lasting." During her report on Obama's response to attacks over his "you didn't build that" remarks, Kelly suggested that "the damage" from Obama's comments "may be lasting," citing a poll showing Obama's approval rating among business owners. From America Live:

    KELLY: It has been two weeks since the president made the now-infamous "you didn't build that" remarks, but the damage may be lasting. A new Gallup poll shows that nearly 60 percent of American business owners now disapprove of the president's job performance. Just 35 percent approve. To counter the new GOP war cry "we did build it," team Obama just released a new television ad featuring the president himself, in which he dismisses the attacks against him, accusing his opponent of slicing and dicing his comments. [Fox News, America Live, 7/26/12]

But Fox Has Pushed This False Narrative From The Beginning ...

    Fox & Friends Deceptively Edited Obama's Comments On Small Business. The morning show cut Obama's remarks in a way that made it seem like he was suggesting business owners didn't deserve credit for their success. In fact, Obama was noting that community support and public investment are important factors in business success. [Media Matters, 7/16/12]

    The Following Day, Mitt Romney Repeated Fox's Distortion. [Media Matters, 7/17/12]

    In The First Two Days Of Pushing The Story, Fox Spent More Than Two Hours Of Airtime Promoting The Falsehood. Coverage of the story ran on both Fox's "news" shows and its opinion programming. [Media Matters, 7/18/12]

    On Day 3, News Corp. CEO Rupert Murdoch Endorsed The Falsehood On Twitter. In a tweet, Murdoch wrote "Yesterday Obama went off script, showed real self ie government omnipotent, individuals secondary. Must be big damage." [Media Matters, 7/19/12]

    As Part Of "The Fox Cycle," The Network Attacked Nonpartisan Journalists For Ignoring The Made-Up Story. [Media Matters, 7/19/12]

    After More Than A Week, Fox Tried To Keep The Story Alive By Suggesting Obama Was "Doubling Down" On His "Insulting" Remarks. Fox & Friends used Obama's comments that "we did not build this country on our own. We built it together" as a pretext to revive the "didn't build that" smear. [Media Matters, 7/25/12]

    On Fox News Radio, Fox's Martha MacCallum Said Obama's Comment "Shock[ed] Me" And That They Show "Some Level Of Resentment" Toward Small Business. [Media Matters, 7/25/12]

    Fox & Friends Tried To Rebut Charge That Video Was Deceptively Edited With New Deceptively Edited Video. In this video, rather than play a video clip of Obama that includes all context context, the show played an extended video that still omitted the crucial piece of context: Obama's references to teachers, "this unbelievable American system," as well as government research, roads, and bridges. [Media Matters, 7/26/12]         

    Fox Hosted Karl Rove And His New Anti-Obama Attack Ad Repeating "Didn't Build That" Falsehood. Rove, cofounder of conservative super PAC American Crossroads, used a Fox appearance to promote the organization's new ad "Replay," which mimics Fox's misleading editing of Obama's remarks. [Media Matters, 7/25/12]

... Even As Independent Analyses Say The Criticism Is Bogus

Wash. Post's Kessler: "Focusing On One Ill-Phrased Sentence" Amounts To "Pretend[ing] That Obama Is Talking About Something Different." The Romney campaign released an ad that copied Fox's editing of Obama's remarks, and the candidate himself claimed Obama's remarks were akin to suggesting that "Steve Jobs didn't build Apple." The Washington Post's Glenn Kessler gave those comments three "Pinocchios." From The Washington Post:

    Obama certainly could take from lessons from [Massachusetts Senate candidate Elizabeth] Warren or [Franklin Delano] Roosevelt on how to frame this argument in a way that is less susceptible for quote-snipping. And Romney certainly could answer Obama's argument by engaging in a serious discussion about whether the wealthy should pay much more in taxes as a matter of social good and equity. That would be grounds for an elevated, interesting and important debate.

    But instead, by focusing on one ill-phrased sentence, Romney and his campaign have decided to pretend that Obama is talking about something different -- and then further extrapolated it so that it becomes ridiculous. That's not very original at all. [The Washington Post, 7/23/12]

FactCheck.org: "Taking Snippets Of" Obama's Speech "Ignores The Larger Context Of The President's Meaning." A FactCheck.org analysis detailed Obama's remarks and some of the attacks coming from Republicans. From FactCheck.org:

    There's no question Obama inartfully phrased those two sentences, but it's clear from the context what the president was talking about. He spoke of government -- including government-funded education, infrastructure and research -- assisting businesses to make what he called "this unbelievable American system that we have."

    In summary, he said: "The point is ... that when we succeed, we succeed because of our individual initiative, but also because we do things together."

    [...]

    We don't know what the president had in mind when he uttered those words, and his intent is not clear. Regardless, our conclusion is the same: Taking snippets of his speech ignores the larger context of the president's meaning that a business owner does not become successful "on your own." [FactCheck.org, 7/23/12]

Try to imagine one of these faux outraged business puppets for Romney on an island - they seem to imagine themselves an island already. Where do they get the materials to make a product, on what roads or shipping lanes would it arrive and who would protect the ships. Where are the people who make the products, where did they get their education. If the island is invaded who protects their business. Who do they sell services to - people who don't have an education? Who puts out the fires on the island. As Obama and Elizabeth warren has said, of course people who run businesses deserve credit, but they have never and will never operate a business without the complex connections and support of a nation with government that provides some of the essential ingredients. Romney camp features Tampa govt. contractors who say they don't need... government. Talk about being clueless.

Scott Brown (R-MS) is not a friend of working class America.