Mitt and Bain

Former Massachusetts Gov. Mitt Romney, a GOP p...

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What Mitt did at Bain was legal and necessary in a dynamic economy where conditions are changing. Some jobs are created and some are destroyed, but that is progress. The real question is whether Mitt and Bain restructured companies and jobs with a heart or whether they just took the money and ran.

I have long favored requiring a social impact statement similar to an environmental impact statement. How much does an economic change impact favorably or unfavorably on the people involved directly and indirectly? Mitt must answer this question honestly and in detail or his rivals and the media will answer it for him.

Restructuring companies and doing it with a heart means generous severance payments for those losing their jobs. It means help in retraining for those who need it, and it means help in relocating if the available jobs are located in distant cities. Restructuring with a heart means that not all the benefits go to a few, while hundreds or thousands are left to suffer.

Please see One World, Ready or Not | Job creators | Where have all the good jobs gone? | Creative destruction | Globalization 101 | Taxing job creators

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3 thoughts on “Mitt and Bain

  1. Pingback: American Plutocracy – Get Angry Or Get Eaten – American Plutocracy « angrymanspeaks

  2. It seems so simple and obvious doesn’t it?

    Yet so many don’t or won’t get it.

    People first. Workers first.

    People should reap the benefits of their labor to a point that allows a life with integrity.

    Everything is upside down.

    The people who actually do the physical work are the ones who produce widgets.

    The 1%er is just a money investor. Entitled to a return on the investment; certainly

    But not entitled to run the company unless he knows how to get down there and make a widget.

    Actually; only a Master Widget Maker or a Widgeting Engineer even should qualify to run a company and the operator and the workers should get the lions share of the profits.

    The “Investor” is paid a reasonable return; more than a simple investor but not so much that it disallows the workers; without whom; the company could not function.

    For a wealthy man to make huge amounts of money because he had an idea and invested money in it while the workers who make the product are paid as little as possible is just wrong.

    What we actually have is a partnership between the Investor and the workers; each providing their part; money vs. labor, ingenuity, loyalty, etc.

    The idea that a man who has money has what it takes to become a Widget tycoon is wrong.

    This man can no more make a widget than he can have an honest emotion. He needs you to make that widget.

    He also needs you to tell him when he’s being an ass and out of touch with the real world we live in; it never will occur to ask.

    He will need you to stop him when it looks like he thinks to much of that money and trys to abuse the power it bestows.

    Allowing the wealthy to believe they are above us by allowing them to hoard and controll all the money has produced a society where so many are living below the acceptable level and are willing to do any dispicable thing for the crumbs the wealthy throw that it has allowed the wealthy to pay little to influence and intimidate their way to positions of even greater wealth and power and so on.

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