Romney’s “Plan” For Jobs “may actually destroy more jobs than it generates”


    Clearly, the economy’s not creating jobs as rapidly as we’d all like. Of course, we’re in this mess in the first place thanks to the Great Recession which began and accelerated on the watch of George W. Bush, Dick Cheney, etc. So now, Willard “Mitt” Romney is running for president and trying to blame everything, probably including the common cold, on President Obama. In reality, of course, Obama’s policies helped save the U.S. auto industry from bankruptcy, while Romney advocated that we “let Detroit go bankrupt.” Obama’s policies also helped prevent Great Depression Part Deux, and would have been a lot more effective without lockstep opposition to every idea he’s put forth the past 3 1/2 years by purely partisan, “we want him to fail” Republican’ts.

    Anyway, a few minutes ago Romney laid out a few of his “ideas” for creating jobs. Don’t get too excited, make sure you’re sitting down, because these are truly astounding (snark):

    He listed a handful of his ideas:  The Keystone pipeline; open markets in Latin America; lower marginal tax rates; fewer deductions; taking on China when they “cheat.”

    My first reaction to this was, “this isn’t The Onion, this is seriously Romney’s ‘plan’ for creating jobs?” But yes, this really is it: cut taxes for rich people below their already-at-historically-low rates (brilliant! also so innovative!), more “free trade” (which, by the way, the Obama administration has already been pushing ahead with), and…wait for it…build the Keystone pipeline to transport Canadian tar sands. OK, we already know that tax cuts for rich people do NOT create jobs. They also blow up the budget deficit, as we saw under both Reagan and Bush. That’s a non starter. What about Keystone? Sorry, no go:

    In fact, according to an independent study by Cornell University… there actually would be ZERO net increase in jobs, just 3,000 or so temporary jobs while the pipeline is being constructed, from the Keystone project…”may actually destroy more jobs than it generates…and will have a chilling effect on green investments and green jobs creation.”

    That’s right, Willard “Mitt” Romney’s great jobs plan would blow up the budget deficit and actually kill jobs in this country. Of course, Romney has a great deal of experience killing jobs in the U.S., in his work as outsourcer-in-chief at Bain Capital. Why would we expect him to do anything different if he ever, god forbid, became president?!?

    • glennbear

      With all the kerfluffle around the XL pipeline one wonders where the true economic benefit will be. I recently spent two weeks in Alberta including time in Fort McMurray which is an oil industry boom town. Throughout the province oil money is flowing like water with McDonalds paying $17.00 an hour just to compete with oilfield jobs. The oil companies being multinationals don’t give a hoot about American jobs or the economy down here so they continue to lobby the GOP for XL support and the teaheadists happily accept the campaign money aka bribes. It is notable that a large proportion of the related jobs in service industries in Alberta are being filled by immigrants from all over the world who are happy to work for wages less than Canadians but are much higher than their native lands. The recent WAPO article series on Alberta oil is quite thorough and I highly recommend it :

        Romney including XL extension in his jobs plan is no great surprise since his personal wealth plan disregards national boundaries also as shown by all his offshore bank accounts.

    • Teddy Goodson

      Here’s an example of corporate chutzpah that should be right up Mitt’s alley: AIG, which the US taxpayer bailed out during the crash, is now actually suing to recover interest on its overpayment of taxes back in 1991 (after underpaying taxes in 1990, they “overpaid” in 1991, and now, on net, claim they are owed interest on the 11-year old overpayment):

      AIG, you will recall, insured those over-priced and over-rated derivatives, and was deemed “too big to fail,” when the fraud hit the fan. As it happens, we taxpayers still own a chunk of AIG, which makes this whole circular reasoning even more interesting. Since corporations are people, and people hate taxes, and Mitt and Republicans claimed to hate the bailout(s), my head is spinning on how this story spins out.