Path 2

Issue

Economy

Tuesday, Jan 17 2012

Washington Post: Allen Opposes Stimulus, But Backs Company That Received Stimulus

On January 16, 2012, the Washington Post reported:

George Allen, the likely Republican nominee for U.S. Senate, recently headlined a town hall at Micron Technology, a semiconductor company with a facility in Manassas. It’s the same company that received $5 million in stimulus money. And the same company whose CEO, Steve Appleton, met with President Obama to show his support for the American Recovery and Reinvestment Act of 2009. But, as you may recall, Allen doesn’t support the recovery act.

Tuesday, Jan 17 2012

VIDEO: "Not Very Much"? Romney On $374,000 In Speaking Fees

Today in South Carolina, Mitt Romney explained that he pays a lower effective tax rate than many working Americans because his “income comes overwhelmingly from investments made in the past, rather than ordinary income or rather than earned annual income.” Romney also noted that he gets paid for speeches “from time to time,” but described the fees as “not very much.” However, Romney’s personal financial disclosure reveals that he raked in $374,327.62 in speaking fees between February 2010 and February 2011. That may be “not very much” to Mitt Romney, but the vast majority of voters would certainly disagree. Watch Romney’s remarks below:

Friday, Jan 13 2012

Daily Kos: Mitt Romney's Favorite Success Story Took Millions In Government Aid

On January 13, 2012, Daily Kos reported:

Mitt Romney says questioning his record at Bain Capital makes you an enemy of free enterprise, but it turns out one of his favorite success stories would have been a failure without tens of millions in government subsidies.

Friday, Jan 13 2012

Washington Monthly: Get To Know Steel Dynamics

On January 13, 2012, Washington Monthly reported:

Indeed, Steel Dynamics isn’t some isolated story from Romney’s past that he would just as soon see us overlook; this is a story that Romney considers proof of his job-creating expertise. The takeaway, apparently, is that the Republican frontrunner wants government to get out of the way of the private sector, but only after the government gave Romney some handouts that helped boost his profits.

Friday, Jan 13 2012

TPM: Romney’s Conservative Businessman Pitch Runs Into Fire

On January 13, 2012, Talking Points Memo reported:

Mitt Romney is looking to steady his ship in South Carolina after overcoming a week of tough attacks on his Bain Capital days in New Hampshire. But while Newt Gingrich, Rick Perry, and assorted Democrats have all gone after him from his left flank on the issue, there are signs that he may have weaknesses on the right as well.

Friday, Jan 13 2012

DeKalb Residents React To Steel Dynamics

Butler Resident Diane Pinney: “We That Are On Social Security And Minimum Wages Cannot Afford Another Penny!” In letter written to the editor of The Butler Bulletin, Butler resident Diane Pinney wrote, “An article in today’s Journal Gazette (February 11, 1994) came to my attention. In fact, it hit me in the face! It seems that Keith Busse of Steel Dynamics, the Butler City Council, and Tom Lavin of the DeKalb County Council have been meeting directly, making deals for the Steel Dynamics plant that involve new taxes on Butler residents and all of DeKalb County…We that are on Social Security and minimum wages cannot afford another penny!!! When are we going to learn to say NO to this type of business deal? What are we going to get in return from this steel mill? I’m afraid that we’re only going to get taken- again!” [The Butler Bulletin, 2/15/94] See more reactions after the jump.

Friday, Jan 13 2012

ICYMI: Romney Profited From Government Handouts

This morning, the Los Angeles Times reported on Mitt Romney's reliance on tax breaks and government subsidies while working in private equity. The article focuses on Steel Dynamics, the same steel company featured in Romney's positive ad released just this morning, and all of the government help they received. In fact, Dekalb County was forced to institute a new tax to pay for all of the handouts. Despite his constant opposition to government interference in the free market, Mitt Romney has a long history of profiting from government handouts. Research after the jump.

Friday, Jan 13 2012

LA Times: Mitt Romney No Stranger To Tax Breaks, Subsidies

On January 12, 2012, the Los Angeles Times reported:

As Mitt Romney defends his record running a private equity firm, he frequently points to a fast-growing Indiana steel company, financed in part by Bain Capital, that now employs 6,000 workers. What Romney doesn't mention is that Steel Dynamics also received generous tax breaks and other subsidies provided by the state of Indiana and the residents of DeKalb County, where the company's first mill was built. The story of Bain and Steel Dynamics illustrates how Romney, during his business career, made avid use of public-private partnerships, something that many conservatives consider to be "corporate welfare." It is a commitment that carried over into his term as governor of Massachusetts, when he offered similar incentives to lure businesses to his state.

Wednesday, Jan 11 2012

Real Clear Politics: Romney's Tough Final Day In New Hampshire

On Janury 10, 2012, Real Clear Politics reported:

Romney's troubles began early in the morning when he told a crowd in Nashua, "I like being able to fire people who provide services to me." [...] The Democratic group American Bridge issued a research document hitting Romney with a more substantive question based on the heart of his remark -- firing a service that isn’t performing well. “Why did he refuse to fire the landscaping company he employed to take care of his lawn even after he found out they hired illegal immigrants to care for his property?” the group asked. “He waited until he was running for office (for Pete's sake!) to do something about it.”

Tuesday, Jan 10 2012

Reuters: Republican Foes Try To Brand Romney As Elitist

On January 9, 2012, Reuters reported:

The labels being attached to Republican U.S. presidential candidate Mitt Romney seem to be straight out of the Democrats' playbook. Elitist. Job killer. Out of touch. [...] One thing is clear: Accusing Romney of being an elitist matches what almost certainly will be a key part of the strategy of Obama's re-election campaign and groups that support the president. "In fact, we will do it much better than the Republicans are doing it now," said Rodell Mollineau, president of American Bridge, a Democratic "opposition research" unit that uses film footage of candidates' own words to discredit them.

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