Why is the media so anxious to accuse Republican presidential candidate Mitt Romney of not paying enough income taxes? Keep in mind that he has never been accused of evading whatever taxes are legally required, which is more than you can say about Treasury Secretary Timmy Geithner, or Representative Charlie Rangel, or even Obama buddy billionaire Warren Buffett, who is more than 10 years behind his paying his overdue taxes! They just want Mitt to pay more.
The fact that Mr. Romney pays any taxes at all puts him in a minority category versus those who pay little or none. So for obvious political reasons, President Obama is trying to create class warfare by making those who pay little or no income taxes believe he is championing their battle against those “vulture capitalists” who pay most of them. It’s the same 99% vs. the 1% political philosophy currently being acted out by the Democrat supported Occupier Mobs.
If President Obama can make the majority who pay no taxes believe they are being taken advantage of by those who do, it’s a sound political move. Overlooked is the fact that the taxes being paid by the minority make is possible for the majority to pay little or none! But no matter. We don’t yet know how much Romney is paying, but whatever it is, it is just not enough. And it never will be!
In truth, the less tax a business entrepreneur pays, the better off we all are. What does a venture capitalist like Mitt Romney do with the money the government lets him keep? As CEO of Bain Capital, he invested both his money and his expertise into making businesses grow and prosper. And in doing so, they create jobs! They hire people! Tens of thousands of them! Bain Capital, has saved hundreds of firms from bankruptcy and set them on the path for growth. Most are small firms you have never heard of, but some are well known, such as Staples, Sports Authority, Boston Heart Diagnosis, and even the credit scoring firm, Experian.
On the other hand, what has the government done with the taxes you and Mitt have paid? Well, for starters, there are the failed solar panel manufacturers; Solyndra, broke in only two years in spite of more than a $500 billion federal subsidy. SpectraWatt, and Evergreen Solar, Inc. Another was announced just this past week, with more to come. And there was the “cash for clunkers” program, which cost more $billions, but did absolutely nothing for auto sales. There is the $250,000 per vehicle subsidy for the GM “Volt” electric auto, all of which have now been recalled because they burned down the owners homes. There are tens of thousands of outstanding Fannie and Freddie guaranteed mortgages on foreclosed and abandoned homes which the purchasers never could afford in the first place. And who is left holding the bag? You and me, who make up the tax-paying minority.
So which do you prefer? Would you rather see Mitt and Bain Capital have more money to invest in growing businesses and creating jobs, or have it confiscated and wasted by an ever expanding government that continues to slog around in a quagmire of crony capitalism and incompetence?
We have never had a clearer choice before us than we do here in 2012. Do we want to return to the conservative principles of self-reliance, liberty, and free enterprise, as instituted by George Washington and Thomas Jefferson, and as exemplified by Bain Capital, or do we want to follow President Obama and the Democrat Party further into a European style of socialism and the inevitable consequence Greece and Spain and Italy and the rest of the EU community are now experiencing? It’s not too late, but decision time is getting close. Very close. Like 10 months, to be exact!