Round One Goes to Romney

Gov. Romney did win the so called debate on style. He was assertive, confident, knowledgeable, and well-prepared. Congratulations on the win. Good for him. The problem is what is good for him is not good for us. Remember this is about your kids’ future. Let’s see what we know now about him.

· He is the first presidential candidate with off shore accounts --with 137 investments in the Cayman Islands alone. Only showed 2 years of his tax returns (another first.) Paid 14% of his income in taxes (which he said is fair because he is a job creator.) Has over $100 million dollars in his IRA (the maximum yearly input is $6000.) He is 2 times richer than all 8 previous presidents combined. Being rich is no problem, but he hides his wealth in at least 8 different countries. Probably doesn’t believe in America or our banks.

· At BAIN, he accumulated his wealth by outsourcing jobs and offshoring profits to reap huge tax savings. Claimed to have created 100,000 jobs with Bain capital. Most of these jobs were in other countries. The companies in the U.S. that have generated jobs — Duane Reade, Staples and Dominos, for example — also share a common factor: the majority of the jobs in those companies are low-wage jobs in the service sector, the types of jobs that frequently put workers in Romney's derided 47 percent of "entitled" Americans. Staples is closing many of its stores as we speak. But success for Bain was about one thing: Making money for shareholders. Whether the companies Bain was involved in succeeded or failed made little difference to those profiting off Bain's investments. When he and Bain closed companies they loaded them with debt; fired workers; shipped jobs overseas and/or made the company file for bankruptcy. They left thousands of people without health care, pensions or jobs. And subsequently dependent on government for help. Nonetheless Bain got paid. So did Mitt, during the 2 years he “left to go save the Olympics;” yet he remained the sole Managing director, CEO, President and Owner of Bain Capital and collected a salary of at least $100,000 for doing “nothing.”

· What about his term as Governor, you ask? During the campaign for the governorship in 2002, Romney proposed a plan that he said would balance the Massachusetts budget without raising taxes (sound familiar.) He said that he would be able to save $1 billion (out of a $23 billion budget) by reducing waste, fraud, and mismanagement. Upon entering office, his initial emergency budget proposal for fy 2003 called for $343 million in immediate funding cuts, necessitating layoffs of state employees and cuts in aid to cities and towns for public safety and education. He also proposed cuts in state expenditures for Medicaid, the government program providing health care for seniors and the poorest residents. Some 36,000 Massachusetts residents lost their Medicaid eligibility. Romney’s austerity budget for fy 2004 included even more substantial cuts in state funding for cities and towns by as much as 20 percent. Already struggling communities across the state were forced to cut services and hike fees, while laying off teachers, police officers, and other municipal workers. To compensate for lost revenue from the state, communities raised local property tax rates, helping drive up the average residential property tax bill by 22 percent over the course of Romney’s tenure. In addition to proposing reductions in payments to hospitals and nursing homes for care of Medicaid patients, and restrictions on Medicaid patients' access to prescription drugs and eligibility for nursing homes admission, Romney proposed that the low-income Medicaid patients be charged monthly fees for participation in the program, along with co-payments for visits to doctors' offices. Public colleges and universities responded to funding cuts during Romney's tenure by raising tuition fees 63 percent. Romney proposed 33 new fees along with increases in 57 existing fees, resulting in higher costs for birth certificates, new car purchases, driver’s learning permits, firearms permits, professional licenses, and billboards advertising, as well as for many state services. Critics, including some conservatives, complained that Romney was using these fees increases as a tax increase in disguise after having promised he would not raise taxes. See a pattern here? Saying he won’t raise taxes, doesn’t mean the middle class won’t pay more. BTW, Massachusetts was 47th of the 50 states in new job creation over the course of Romney’s term. So much for a job creator. Maybe that explains a 40 pt deficit to Obama in Mass. now. They know him.

· Last night in the debates, Romney told some whoppers of lies. He has been campaigning for 18 months saying he would cut taxes 20% across the board. According to the CBO (Congressional Budget Office) the best they can figure because of lack of specific details from Romney, which amounts to a $5 Trillion budget increase. Add $2 trillion in additional Defense Spending (which they did not ask for) and extend the Bush tax cuts which is another Trillion, you got a bill of $8 Trillion dollars. You’re a smart guy. Getting rid of PBS aint gonna come close. BTW, be gentle when you tell your kids that Big Bird is getting fired by the nice guy. The only way he can even begin to make a dent is to get rid of your mortgage deduction you now enjoy. It’s not a tax but it will surely feel like one. He can also take away your earned income tax deduction, child credit or charitable deductions. What happens if people stop giving to churches and other non-profits?

It’s not a tax but it will surely feel like one to a lot of people. Come on, you’re smart. Try to keep up. This is serious.

· Let’s talk about ObamaCare. Let’s make this simple. It’s the exact same plan Romney instituted in Mass. Written by the exact same people. The $716 Billion Obama “takes” from Medicare is the same amount in the Ryan Budget. The main difference is Obama takes the savings from providers not seniors and uses the savings to extend the life of the program by 8 years. If Romney repeals the program it will go broke by 2016. Romney-Ryan’s plan doesn’t get started until 2023. OK. Let’s say it together. It will end the program before he fixes it. You’re getting it.

· It’s hard to beat a guy in a debate when he keeps shape-shifting. It’s like trying to nail Jell-O to the wall. (Even your kids can understand that.) So enjoy his victory but remember what’s good for him is not necessarily good for you or your kids. Be smart. Do your own research or follow me on twitter @tomthunkit.

PS As a Mormon Pastor, Romney has a callous disregard for the poor, weak and disabled. Remember, Matthew 25:45 ^“He will reply, ‘Truly I tell you, whatever you did not do for one of the least of these, you did not do for me.’ Go figure. Maybe we worship a different God.