Romney's Biggest Lie of All: A $5 Trillion Tax Cut For the Rich Will Create Jobs

Oct 04 2012 Published by under Featured News

In a battle, success is dependent on careful planning and dedication by every member of the team, and even then there is no guarantee of success because it is nearly impossible to know exactly how the opposition will react in any given situation. Still, it is likely there are few people who expect success without a plan, a measure of flexibility, and flawless execution by all the participants with the least resistance from the opposition. There is, though, an expectation that every member of the team is working toward accomplishing the same goal, but there are occasions that a member of the team deliberately impedes success, and that is the problem with a traitor driven by ideology. When President Obama came into office, he assumed that every legislator was on the same page in saving the economy and getting Americans back to work, but unfortunately, one half of the team were traitors with no intention of doing anything other than preventing economic recovery, enriching the wealthy, and keeping Americans unemployed.

One of Willard Romney’s contentions is that President Obama is responsible for the unemployment numbers, and he has promised America that if he is elected president, his tax $5 trillion tax cuts for the wealthy will spur job creation and boost the economy. He even touted his job creation prowess while he was head of Bain Capital, and he was responsible for creating jobs, in China, and earning a tax break in the process, but it came at the expense of Americans’ jobs that continues to contribute to the 8% unemployment rate and slow-growing economy. However, his persistent claims that President Obama is responsible for the unemployment picture is part of his pathological lying, and if he were honest, he would point to his party’s obstruction as to why millions of Americans are out of work; but then he could not sell George W. Bush’s trickle down fantasy. Since it is a fact that giving more tax break entitlements to the wealthy and eliminating regulations does not boost job creation, it is worth looking at what Republicans have done over the past three-and-a-half years to create jobs. The short answer is absolutely nothing and in fact, the GOP is responsible for retarding job growth they began planning on inauguration night 2009.

Romney says the economy is worse today than when President Obama took office, but after 30 months of job growth, it is impossible to square Willard’s contention with the 800,000 jobs lost in January 2009 when President Obama’s term began. It was the worst job loss in a single month in 60 years, and with the economy in a dire situation, the President stimulated the economy with the American Recovery and Reinvestment Act (the stimulus) that Republicans opposed and continue to claim was a failed policy, even though nearly every economic study showed that it created between 3.3 and 3.8 million jobs and prevented the unemployment rate from skyrocketing to 10.8 percent.  Republicans continued to parrot the failed policy meme when the President proposed the American Jobs Act (AJA) last year that economists estimated would create well over 1 million jobs. It has been over a year since President Obama proposed the AJA, and Republicans have successfully blocked what is now considered the creation of between 1.9 and 2.6 million jobs because they think the money is better spent on tax cuts for the rich. Most real economists claimed that although stimulus was successful creating jobs, it was not nearly enough.

A sane human being might have thought that Republicans were on the same side as the President in trying to create jobs and spur economic recovery, but the traitors obstructed, blocked, and stonewalled every one of President Obama’s job creation measures to keep unemployment hovering around 8% instead of less than 5% if they had not obstructed recovery. The Republicans have devised a three-point plan they claim will boost employment that has been an abject failure around the world and it is austerity, tax cuts for the rich, and deregulation. One of Romney’s favorite arguments is cutting the size of government through austerity creates jobs, but in May of this year he said taking money out of the federal budget will shrink GDP and “throw us into recession or depression” and indeed, according to Economic Policy Institute estimates, Romney’s tax cut plan will eliminate 2 million jobs if he wins in November.

Republicans in Congress have been instrumental in retarding job growth by obstructing the President’s jobs plans, and their cuts of over 600,000 public sector jobs have prevented 2.3 million downstream jobs being created, and coupled with blocking the America Jobs Act, prevented at least 4.2 million Americans from finding decent, living wage jobs that would have brought unemployment down to 5.5% in a little over a year. If, for example, Republicans would have increased public sector hiring by one-half instead of cutting over 600,000 jobs, the unemployment rate would be under 5%, tax revenue would increase, and deficit reduction would begin in earnest. Willard Romney has criticized President Obama for trying to increase police, fire fighter, construction, and teaching jobs that he says “we need less” of and will prove it if he is elected president to punish unions.

In the past few months, Republicans have maintained their job creation obstruction by blocking a Democratic plan in the Senate that would have given small businesses a 10% tax cut in exchange for hiring new workers and raising employee’s pay, as well as allowing them to fully deduct the cost of significant investments made in 2012 as an improvement to the current law capping write-offs at 50%. An independent economic modeling firm estimated the legislation would have added at least 1 million new jobs that should have pleased Republicans, but since it did not include more tax cuts for the rich, they opposed it. Last month, Senate Republicans blocked President Obama’s Veterans Job Corps Act of 2012 because they claimed America cannot invest in America’s Veterans because it was too expensive.

There is no doubt that Romney will continue to blame President Obama for the unemployment numbers in spite of irrefutable evidence Republicans followed through on their deceitful plan to obstruct economic growth in January 2009. Despite the obstructionist plans, the private sector created 4.3 million jobs over the past 30 months and if Republicans spent money on public sector jobs like they did during George W. Bush’s administration, it would cut unemployment to 7.3% immediately, but that would help the American people and if there is one thing this pack of Republicans have made crystal clear, they will not do anything to help the people that may reflect well on President Obama. When Romney criticizes the President for the unemployment rate, he needs to be reminded that when fellow Republican John Boehner was told GOP budget cuts would eliminate 1.1 million jobs, he said, “so be it” and it has been the party’s attitude for well over three years. Romney, like the rest of the traitors in the Republican ranks, is fond of saying America cannot afford to invest in jobs, and yet he has no compunction giving $5 trillion in tax cuts aimed primarily at the wealthy and killing more jobs by increasing taxes on the middle-class.

As long as Republicans continue following their plan to obstruct and eliminate jobs to provide tax cuts for the rich and corporations, the economy will never recover, and Americans are waking up to the fact that all of their representatives are not fighting for the American people. As the standard bearer for the party, Romney has indicated he supports job-killing measures and will continue blaming President Obama, but the simple truth is the only reason the unemployment rate is not below 6% is that Republicans are more interested in obstructing this President, and like Romney, will destroy more jobs to provide tax cuts for the richest Americans so when unemployment hits 10%, they can all say, “so be it.”

 

 

 

 

 

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