Priorities USA Action, the pro-Obama super-PAC, unveiled a new ad Sunday targeting presumptive Mitt Romney on his tenure as head of Bain Capital.
Of note, while the ad shows the jobs lost because of Bain Capital restructuring, there is no mention of the jobs lost because of minimum wage laws which are supported by Obama and his pro-union supporters. Romney is an interventionist, but his role in restructuring part of the economy (when no government handouts were involved) is simply basic free market economics that moves toward a more prosperous economy for all. Obama could have run the same ad at the end of the buggy whip error decrying those who shutdown buggy whip operations in the face of challenges from Ford Motor Company. The long term result, however, was that there were plenty more jobs in the auto and tire sector (with higher wages) than there ever was in the buggy whip industry.
I only have one question...What middle class?
ReplyDeleteOh, there is a middle class and Directors law is in full progress throughout the first world. All you need to do is add up the amount of government supported jobs, benefits (SS, MC, Unemployment, Tax subsidies, safety nets, etc) and services going to the middle class and you'll know why soon there will be no middle class.
DeleteActually, I don't fault Romney for many of the things he did at Bain. That's what a free market is supposed to do. Which of course is exactly why Obama is attacking him for it.
ReplyDeletespelling error:
ReplyDeleteI think you mean "buggy whip era"