Romney: Wealthy will do fine no matter who wins in Nov.

CBS

(CBS News) Mitt Romney said he's not worried about the future of the country's wealthiest saying this weekend they'll "do just fine" under President Obama or a President Romney.

"I know the very wealthy are going to do just fine whoever is elected," Romney said in an interview with CNN's Gloria Borger that was conducted Saturday. "The middle class is the people that is the group of people that I am most concerned about, they need our - and the poor - they need our help. They need our help with good jobs. That is only going to come if we encourage this economy by keeping the burdens on small business down."

He added that it would be "an enormous mistake" to let the Bush-era tax cuts expire at the end of the year, including on those who make more than $250,000 per year, which is what President Obama proposed.

"If your priority in this country is to punish success, vote for President Obama. If you priority is to create more success and more jobs vote for me," he said.

Romney also said that the Federal Reserve should not use a major tool at their disposal to stimulate the economy, saying his own economic plan will get the economy moving.

"I am sure the Fed is watching and will try to encourage the economy, but I don't think a massive new QE3 will help this economy," Romney said.

QE3, or quantitative easing, is a unique tactic used by the central bank that uses the purchase of bonds to infuse the economy with additional money. The Fed has used the measure twice but indicated last week that it is not yet going to implement a third round of the strategy, but could do so in the near future.

"I think the Fed's first action- quantitative easing - was effective to a certain degree. but I believe the second quantitative easing did not have the impact they were looking for," explained Romney.

Romney said he has five things he would do stimulate the economy, including "taking advantage of our energy resources" and "fix[ing] our schools." He also said he would increase trade and "crack down on China when they cheat." The presumptive Republican candidate said his economic plan would create a balanced budget and "champion small businesses."

It's a plan, the former Massachusetts governor said, would add 12 million jobs during his first term - a dramatic increase from the 163,000 jobs added in July.

"That is what happens in a normal process when you come out the kind of recession we've had, you should see this kind of creation," Romney said. "[U]nder this president we have not seen that kind of pattern. We have just been bumping along with barely enough jobs to just hold the unemployment rate about the same - above 8 percent - 42 months like that."

[lesserof2evil]

Sure that's why his tax policy overhaul includes largest tax cuts to the wealthy. Brilliant!!!!

[hypnotoad72]

Sons of Odin:


Mitt Romney - show us actual proof, notarized, that he will do a thing for the American working class that helped make those businesses that now fleece us to the bone, either as employees, customers, or shareholders. Until then, Romney is just another Wall Street lackey.

Also, did businesses get corporate welfare, at any point?

The moment they take corporate welfare is the day they become socialist.

Or try to make it so they can have the money but provide nothing in return, which makes them corporatist (see Mussolini for more info).


Now, if you want to talk to some communists:


http://www.ontheissues.org/senate/Rick_Santorum.htm#Corporations
http://www.ontheissues.org/john_mccain.htm#Corporations
http://www.ontheissues.org/senate/mitch_mcconnell.htm#Corporations
http://www.ontheissues.org/senate/jim_demint.htm#Corporations
http://www.ontheissues.org/senate/Orrin_Hatch.htm#Corporations
http://www.issues2000.org/senate/Judd_Gregg.htm#Corporations
http://www.ontheissues.org/Senate/Chuck_Grassley.htm#Corporations
http://www.ontheissues.org/senate/john_cornyn.htm#Corporations

"Voted NO on repealing tax subsidy for companies which move US jobs offshore. (Mar 2005)"

Now, read that - giving taxpayer money to corporations that offshore (to communist countries). This means people in America are out of work as we're shipping jobs overseas. This also means we create a revenue problem because there are fewer working people to tax.

Obama voted 'YES' to repeal, so stop the manure about Obama being the communist supporter. That list, coming from a nonpartisan source, readily tells who the communists are.

[snoopy28173]

Romney, I resent your use of the term "poor". This proves you are out of touch. Those that struggle do not call themselves poor. Oh, by the way, not everybody can afford privite school and having to pay to send your child to school would viotate the U.S. constation that gives the right to a free education. And priviate schools are not mandate to provide services for the disabled. I am disabld. I had to have special ed and Physical and Occupational Therepy. And guess what? I graduated from high school and a prestigious college(public school, privite college). If I did not have special ed, I would not have graduated. Fortuntly I graduated in 1993 way before the one size fits "all" no child left behind that leaves more behind. It would have left me behind because I can't do math, anything beyond biology, and no forign language.

[seabass6251]

The "Constitution" as spelled correctly, grants or acknowledges no individual right for a free education nor does it empower the federal goverment to decide that issue. Education is not mentioned anywhere in the Constitution as it was always understood to be a state's right and/or obligation. I wish the presitgious college would have offered a better course in American History.

[nygurl1]

bass - I wish you had learned manners!....Your derogatory remarks and your assumption of superiority are nerve frazzling!

NCLB made it impossible for schools to show progress when handicapped students were main-lined!....They couldn't keep up with the rest of the class and lowered scores. ....The shrub refused to make exceptions!

Free schooling has been around forever.....Too bad you never had any!

[snoopy28173]

The rich will prosper more under Romney because they will get all the tax breaks and the average middle class will get a tax increese. Romney is all for the rich folks and not the majority of Americans.

[seabass6251]

And the ACA taxes who the most?

[arthanyel]

seabass6251: The ACA "taxes" mostly upper income people that refuse to buy insurance, and businesses that refuse to provide insurance to their workers.

Romney's tax plan assumes massive ADDITIONAL tax cuts to the wealthy, and increases the tax burden on the middle class by an average of $2,000 per year. Not to mention that Romney has STATED, based on this very article's quotation, that if Obama's plans to let tax breaks expire on millionaires and billionaires takes place, "the wealthy will be doing fine."

[arthanyel]

by OBAMA4ALLAH- August 6, 2012 8:03 AM EDT
Especially Oduma when he is kicked out of office in Nov and he finishes divvying up the rest of the Stimulus package loot he stole from the American taxpayer.

----- cut here -----

Conservative propaganda, not only 100% fact free but silly. Notwithstanding the probability Obama will be re-elected, he didn't "steal" anything from the American people and he isnt in a position to "divvy up" the non-existent stolen loot.

Or perhaps you are so uneducated you don't know that Congress approves and allocates all spending?

[seabass6251]

I would direct you to research ownership of GM and Chrysler before and after Obama's adminstration and both Houses of Congress Democratically controled divvied it up and re-post.

[arthanyel]

seabass6251: You mean, before and after BANKRUPTCY? What nonsense are you referring to now?

Mitt Romney says Obama gave away car companies to union - Politifact analysis = FALSE

Taxpayers on shares in GM and Chrysler - not Obama. Taxpayers will get the returns when those shares arees old at a profit - not Obama.

So please post something actually factual with a reference and maybe you can be taken seriously.

[arthanyel]

It's pretty clear why Romney won't release his tax returns.

Remember, Romney he was actively running for president in 2007 and 2008. That means it's relatively unlikely he was doing anything during those years that he thought couldn't withstand scrutiny. SO why not at least release the last 5 years?

Because on October 15, 2009, this happened: "Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a 10/15/2009 deadline to disclose those accounts or face possible criminal prosecution. The concern was triggered this summer when Switzerland's largest bank, caught up in an international tax evasion dispute, said it would disclose the names of more than 4,000 of its U.S. account holders.

The decision shattered a long-held belief that Swiss banks would guard the identities of its American customers as carefully as they did their money, and it raised concern that other international tax havens might be next. Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for having failed to report their overseas accounts. As a result, tax attorneys across the nation have been besieged by wealthy clients who are lining up to apply even though they will still face big financial penalties."

Romney doesn't want people to know he was intentionally (and illegally) hiding his money in Switzerland. There is no criminal prosecution because the IRS granted an amnesty, but it WAS ILLEGAL.

So, Romney - release those returns!!

[arthanyel]

I wonder why seabass6251 isn't responding to this. Maybe because there is nothing that conservative wing nuts can say in response that doesn't make their candidate look EVEN WORSE?

[seabass6251]

Why comment. I think criminals should be punished. If anything illegal was done, the perpetrator should be punished. Now prove it.

[tman005]

There are a couple of things that come to mine when reading this article. First, some of you must have not been born or were either young children when Reagan was president, so you would be unaware that trickle down economics does not work. As a result of this policy under Reagan, he left the presidency with the US in 3 trillion dollars worth of debt. In his own words his biggest regret was the above mention sentence. Then comes the George Bush (daddy) who again practice the same policy, again the country left in debt. Now, the up side. Clinton became president and the economy was booming. When he left the US had a surplus of 3 to 4 trillion dollars, everyone worked. Back to screwing up the economy, here comes Bush son, oh! well we all know how that turned out. His own political party abandoned him. Second, here comes Romney (ROB-ME), who could care less about the middle class or the poor. What astounds me more than anything thing is why would anyone with a brain in their head, believe Romney who wants to practice the same policies before mention will work. Get a clue, 8 years of Reagan and it didn't work, 12 years of Bush's and it didn't work, why in the world would you think a Romney presidency would. I mean what did you not get in his statement, "the rich will be just fine, regardless of who wins the election." Does this even closely sound like a person who cares about the middle class or the poor. Lastly, regardless of any race, when a porn star states, "when you are rich, you want a republican in the White House", should cause the light to come on in your brain. If you work a job that places you in the middle class or poor group, you are a complete fool to vote for someone who will screw you over the first chance they get. If you noticed, Romney nor the GOP have refuted the media statements that he held money if off shore accounts, since it is factual. So, if you will be happy with him out sourcing more jobs from the country like he did at Bain, then vote for him. And if he wins and you get screw, you have 4 years to cry about it, that is a long 4 years. Remember the last 4 years of BUSH? I do have to say this, Romney would have let GM closed the doors and the trickle down affect would have been thousands of people out of work, not only at GM but the companies that supply them support as well. With Romney as president we will be importing CARS from CHINA! General Motors as Chinese company. Elect Romney and I will sit back and laugh at a bunch of fools, who just completed a RE-DO of BUSH. I would release my tax returns for the last 20 years. If you have nothing to hide, what would be the issue. The state of Hawaii release President Obama's OFFICIAL birth certificate as he had nothing to hide. If not else that should make you question the honesty of the GOP nominee.

[seabass6251]

Uh, what did the auto companies do right after receiving government bailouts? Remember, the argument at the time was that each UAW job supported 10 others, but once the automakers got the money, plants were closed and folks lost their jobs. On top of that, GM and Chrysler were allowed to go through quick bankruptcies wherein ownership of the company passed over preferred bondholders and ultimately ended up with the UAW. That is theft. In particular, I remember the IN Teachers' Union filing suit because they were preferred bondholders who got screwed.

[arthanyel]

seabass6251: You fial to mention that if there had not been government assistance, ALL of the plants could have closed. And all the investors would have lost everything in ADDITION to all the jobs being lost.

Bondholders lose when a company goes through bankruptcy - and since the workers THEMSELVES had to accept massive cuts in pay and benefits to emerge from the bankruptcy, the fact they recieved sopme ownership in return is not unreasonable.

[occupy_cbs]

troopf4: "Someones feeding you garbage".




Yes, the fox/rush propagandists have always fed the non-thinking Americans a load of garbage, since even willard romney is now saying that "the wealthy will do fine no matter who wins in November".

The wealthiest Americans have hordes of accountants and lawyers to protect their MONEY in offshore tax havens and tax shelters, and romney has proven that point well.

[seabass6251]

The wealthy succeed because they understand how to be wealthy. The middle-class and poor never understand how to be wealthy and are content to be middle-class and poor. The difference is the wealthy wish to be left alone while the middle-class and poor champion taking from someone else when not entitled to do so.

[arthanyel]

seabass6251 : Poppycock and conservative propaganda, 100% fact free. As many are people are wealthy because of pure luck or parents than from actual capability, and many poor and middle class could be wealthy if they were focusing their energy on wealth instead of science, life, or any of the MANY other things worth doing besides stacking chips.

[occupy_cbs]

Imagine that....willard romney thinks the wealthy will do fine no matter who wins in November......who would have thought?

[nygurl1]

And bass seems to think the be all and end all is to get wealthy but you have to know how to handle it.

Could they have ever come up with anything more insulting if they weren't sure their slaves would ignore it?

[OBAMA4ALLAH-]

Listen to all the envious Marxist fleabaggers parroting the communist Mantra.
He hate the rich, we are the mindless masses who must steal their money so we can all be poor and live in squalor while Obama and Moochelle the other Socialist Elitists can live in luxury like all commie dictators do.
The left will cut their noses off to spite the rich and their ugly faces.
Dummies Maximum!

[r9119111]

I'd like to see an honest report on the amount he pays his employees and what their duties are.

From what I hear him saying, he expects everyone else to serve him well -- even if they die in the process like all the rest of the leading Republicans.

[seabass6251]

Privacy really doesn't mean much to you does it? Let me change that, someone else's privacy doesn't mean much to you does it?

[r9119111]

This man is running for president and gives the impression of a very shady character. He may be a nice guy, but I don't want him for president.