STOP Framing "us"

How a select few of "them" are Framing all of "us"

Archive for the tag “Bain Capital”

The Solyndra Frame Exposed! How Mitt Romney and the GOP are Framing reality.

In a speech given last Thursday, Mitt Romney broke out the GOP Solyndra frame once again, but this time while standing in front of the now vacant plant in Freemont, California.  His of way of giving people a visual image to go with the framing, perhaps.  In a nutshell, the Solyndra frame involves the literal framing of President Obama for actions that both former President Bush and the ‘wannabe’ president Mitt Romney are guilty of committing, such as giving taxpayer money to wealthy donor friends (ie, Bush tax cuts) and engaging in ‘crony capitalism’ or Mitt Romney’s specialty (ie, vulture capitalism). This type of immoral behavior regularly practiced under the Bush administration and characteristic of Mitt Romney’s Bain Capital days were projected onto President Obama during this brief speech.

The very first question asked after three solid minutes of misinforming the public was, “In 2005, President Bush signed the energy policy act that created the government loan guarantee (ie, putting taxpayers on the hook when companies fail) doesn’t he get the blame for this?”

Instead of answering the question, which is based on facts, Mitt Romney continued framing this issue by deflecting attention away from who is truly responsible by making it appear as if President Obama was to blame for the failure of this single company. The untold reality is that the circumstances that led to the use of $535 million dollars of taxpayer money (a mere 1.3% of all loan guarantee amounts) was implemented by former President Bush, hurried along by GOP politicians, and backed by the super-wealthy Walton family, who have donated millions to GOP politicians over the years.

As reported by Stephen Lacey and Richard Caperton, It’s often claimed that the Solyndra loan guarantee was “rushed through” by the Obama administration for political reasons” In fact, the Solyndra loan guarantee was a multi-year process that the Bush administration launched in 2007.”  They go on to note that “Rather than “pushing funds out the door too quickly,” the Obama administration restructured the original loan when it came into office to further protect the taxpayers’ investment.”

This reporting is backed up by Politifact, who noted, “The Energy Department’s loan guarantee program was created as part of the Energy Policy Act of 2005, passed by a Republican-controlled Congress and signed by Bush.”
 To make matters worse, President Bush touted the bill as a success at the time, while using many positive sounding words to provide the illusion of responsible governing.

President Bush: “This bill will strengthen our economy and it will improve our environment, and it’s going to make this country more secure. The Energy Policy Act of 2005 is going to help every American who drives to work, every family that pays a power bill, and every small business owner hoping to expand.” What President Bush failed to tell the American people is that this positive sounding language is an intentional act of deception that conceals the GOP’s true intentions of minimizing the risk made by wealthy investors who donate to his campaign, while maximizing the risk to unsuspecting taxpayers. This two-faced political strategy of the GOP involves taking credit for initiatives they frame as strengthening our economy and helping Americans, while blaming the opposition for any market failures that occur as a result of gambling with our tax dollars.

This win-win strategy is a product of the memo Frank “The Liar” Luntz crafted with the former speaker of the House of Representatives, Newt Gingrich, in the mid 1990’s, called Language: A Key Mechanism of Control.  Ever since then, the GOP began using positive sounding language when describing any social, economic or political position advocated by the GOP, regardless of any immoral or devastating consequences to the public, while simultaneously using negative sounding language when describing any social, economic or political position in opposition to their ideological agenda.

So, when Mitt Romney breaks out the Solyndra frame and says that “It’s a symbol not of success but of failure, and that “the president was taking money from the taxpayer to give freely to his friends”, he is partially correct.  It just so happens the serious conflict of interest and the decision to line the pockets of wealthy donors was a result of the immoral actions committed by Bush, not President Obama. This is what the modern day George Orwell Party (GOP) does.  They literally frame the opposition for actions they are guilty of committing.

When the market fails, or when the immoral and reckless behavior of a select few causes catastrophic conditions for the rest of us, people like Mitt Romney and other corrupt politicians step in and use it to their political advantage by framing the issue, and focus media attention and blame on the very people who are trying to protect the public from the abuses of crony capitalism.

Advertisements

The Bain Approach: Mitt Romney’s Plan to Profitize America!

During his CEO days at Bain Capital, Mitt Romney engaged in vulture capitalism (not to be confused with venture capitalism). Vulture capitalism, or private equity as it is otherwise known is nothing more than legalized corporate raiding.  The Bain approach is to seek out healthy companies with sizeable pension plans for their employees, and lure them in with false promises of ‘strengthening’ these companies while hiding their true intentions of ripping them apart.  Under the guise of expanding revenues and cutting costs, the Bain approach is sold to investors, management, and employees of companies they prey upon as a means of promoting growth and making them more efficient.

Despite this rosy sounding language that’s sure to resonate with companies that seek to expand their business, the Bain approach of increasing revenues and cutting costs has a more sinister meaning.  The Bain approach only involves increasing revenues for shareholders of Bain Capital, at the expense of shareholders of the companies they seek to devour.  The costs they are cutting come in the form of employee layoffs, reduced benefits, lower wages, and out-right theft of worker funded pension plans.  For a better understanding of how the Bain approach works, Ampad provides all the evidence needed to understand the true intentions of vulture capitalists like Mitt Romney.

While CEO of Bain Capital, Mitt Romney bought American Pad & Paper Co. (Ampad) for $5 million in 1992.  The Bain approach of bleeding this company dry was very successful.   Revenues in the form of dividend checks (ie, un-earned income) were substantially increased for shareholders of Bain Capital, while investors of Ampad lost millions, along with employees who lost their livelihood and life savings.  In fact, Mitt Romney continues to live large off of the un-earned income he stole from people during his Bain days.

When Mitt Romney and other vulture capitalists claim that they are in favor of rebuilding companies by expanding revenues and cutting costs to make them more efficient, this is what they mean.  The costs they are cutting are people’s jobs, wages, and pensions, which make up the expanding revenues (un-earned income) for the super-wealthy shareholders of this vulture capitalist firm.  This siphoning of wealth to a tiny group of super-wealthy people is a result of adopting the Bain approach.  This Bain approach is what has led to the Great depression, the savings and loan crisis, the housing crisis, and the near financial global meltdown and big bank bailouts witnessed recently that amounted to the largest transfer of wealth in the history of the United States.

Mitt Romney made himself, along with his privileged wealthy investors huge fortunes at the expense of workers losing their jobs and life savings. This is what Mitt Romney and the rest of the GOP mean when they say capitalism produces winners and losers.  This is also why Frank “The Liar” Luntz alerted a room full of GOP politicians not to use the word capitalism any longer.  The reason for this advice is because many people are starting to figure out that capitalism no longer works as intended.  The Bain approach has taken over and turned capitalism into a Wall Street Casino, where only the house wins! The house, of course, represents the vulture capitalists that are destroying our democracy, and preying upon us to feed their addiction for more wealth and power.

The Bain approach involves racking up enormous debt so a select few privileged shareholders can reap mind-boggling profits.  Why does this sound eerily familiar to the problems facing American today?  The unfortunate reality is that we have been following the Bain approach ever since Ronald Reagan was elected into office.  It’s safe to say that this approach to governing our nation has failed miserably and represents the source of the political and social divide currently taking place on important issues affecting our lives.

This new breed of capitalism is seeping its way into our daily lives by influencing our most valued and precious institutions, including our health care and education system, our social safety net, and the vital public protections that exist to ensure we all have safe food to eat, clean water to drink, and non-polluted air to breathe.

– The Bain approach seeks to profitize our healthcare system by denying care to those in need in order to maximize profits for insurance companies at the expense of our health.

– The Bain approach seeks to profitize our education system by using taxpayer dollars to fund the education of rich kids.

– The Bain approach seeks to profitize the water we drink by reducing our reliance on public sources of drinking water.

– The Bain approach seeks to profitize the food we eat by eliminating safety inspections in order add unsafe chemicals and by-products.

– The Bain approach seeks to profitize our energy policy by eliminating public protections and preventing the development of clean, safe, fuels of the future, while advocating for a continued reliance on dirty, unsafe fuels of the past that will run out and are polluting our lungs and the environment, not to mention jeopardizing our national security.

In essence, Mitt Romney’s Bain approach to governing our nation, if elected president, will seek to profitize America! Romney’s recent claim that 80% of the Bain Capital deals grew their revenues may actually be a true statement.  The part he left out is how this occurred and at whose expense.

David Cay Johnston sheds light on two critical “frames” conservatives use to manipulate us: Government “Picking winners and losers” and a “Transfer of wealth.”

David Cay Johnston wrote an article entitled, “Taxed by the boss” where he discussed the implications of the more than 2,700 companies in the Unites States that are keeping the state income taxes they are collecting from hundreds of thousands of workers for themselves.  So, in case you were wondering why states are laying off teachers, firefighters, and police officers, among other drastic cuts to social services that affect millions of people’s lives throughout the country, look no further than the corporate socialism taking place, as pointed out by David Cay Johnston.

To make matter worse, big banks and businesses like Goldman Sachs, J.P Morgan, and Mitt Romney’s former company Bain Capital, are enriching themselves by a process known as “job piracy”, where one state diverts taxes in order to lure an employer from another state to relocate if they promise to create jobs.  The problem is that no jobs are ever created.  Instead, the money is transferred in an upward direction from workers to the corporate bosses in the top 1%, as indicated in the report by the taxpayer watchdog organization, Good Jobs First.  This report also discovered that “deals cut with states over the past two decades diverted $5.5 billion from public purposes to private gain.”  Talk about a transfer of wealth!!

Big businesses are getting away with diverting the taxes they collect from workers to enrich themselves because radical right-wing Governors like Chris Christie, who tops the list, has personally transferred a whopping $251.2 million from average workers to those in the “privileged sector”, who believe they are entitled to it!  No wonder why Chris Christie was being groomed for a spot in the Whitehouse.  He has done the most to enrich the privileged few at the expense of everyone else.  David Cay Johnston calculates that this transfer of wealth amounts to $80 per household in corporate welfare average families are spending to subsidize shareholders of the big banks and large corporations in the United States.

According to David Cay Johnston, “these deals typify corporate socialism, in which business gains are privatized and costs socialized. They also mean that Government picks winners and losers, interfering with competitive markets.” So, it turns out that radical right-wing Governors, in support of an ideology that advocates corporate socialism, are actively “picking winners and losers” (big business is always the winner) which amounts to a “transfer of wealth” from all of us (ie, workers) to a select few of them in the privileged sector (ie, CEO’s and shareholders).

Those of us who watch Fox news or listen to Glenn Beck, or some other radical right-wing talk show host are being framed to believe that Government is “picking winners and losers” in an attempt to benefit lazy people on welfare programs, which serves to create a society of dependency on Government.  Following this logic, believers of this frame are further inclined to believe that a “transfer of wealth” is occurring from the so-called successful people in the top 1% to those who are lazy and don’t want to work hard in order to carry out a socialistic agenda.

The problem with this logic and the rest of the radical right-wing frames is that the opposite of what they say is true!  In this case, Socialism is alive and well in America, as indicated by the Good Jobs First report and David Cay Johnston’s take on this issue.  However, the problem is that it’s only being applied to the top 1% instead of being used to benefit all of us!

The irony here is that the fear of socialism is being used to scare people away from supporting policies and programs that will benefit us all.  A prime example is the current ‘Budget for All being introduced by the progressive caucus in the House of Representatives.  This budget is more in line with our nation’s moral values, and will benefit all of us, as well as help prevent the abuses of power that lead to examples of corporate socialism mentioned above.

As expected, Allen West (R-FL), a conservative member of the tea party, initiated the latest socialism scare by telling people in a town hall recently that there are approximately 80 representatives in the House that are members of the communist party.  Although communism and socialism are not the same, they are used interchangeably as if they were in order to increase the fear effect, I presume, so people will not vote for it!

Unfortunately, if we continue to believe the conservative “frames”, we will never know the benefits that other nations currently enjoy, such as living longer, happier and healthier lives, not to mention being better educated, less stressed, depressed and anxious, as well as having the safety and security of knowing our family members will be taken care of if they get sick, or become disabled for any reason.  All of these benefits are not fantasy, but reflect the reality of countries that adopt moral budget priorities, and implement a system based on socialism for all, not a select few.

Mitt Romney the “job cremator” uses his own company to create a tax-dodging loophole. Priceless!!

Mitt Romney, the “job cremator” was CEO of Bain Capital, and directly responsible for ravishing the lives of thousands of workers so he could reap the rewards.  Mitt Romney would spot what he deemed to be a weak company, or simply use this as an excuse to swoop in like the vulture he is and feed off of the employee’s wages and benefits.  Once finished, vulture firms like Bain Capital would offer the employees of the companies they just ravaged their jobs back, but at considerably less pay and benefits.

The higher paying union wages, pensions and benefits these career employees were receiving are replaced with non-livable, minimum wage jobs, with no pensions and minimal benefits.  The difference between what these employees were earning and what they are now being offered is pocketed by the vultures.   This money is then safely tucked away in off-shore tax havens earning what’s known as carried interest, while the vultures who stole it from the workers live large and convince the rest of the general public that they worked hard for it.

Millionaire Mitt, is a vulture capitalist, who made over $40 million dollars in un-earned income in the past two years.  That’s right!  He did not earn a penny of it.  After all, he doesn’t even have a job.  This money came from the carried interest associated with his offshore investments, which was made possible through a tax-dodging loophole his company lobbied to get passed.

Take a look at this clip from the Daily Show with Jon Stewart describing how this all took place.

indecision-2012—i-know-what-you-did-last-quarter?xrs=share_copy

Instead of paying the top tax rate of 35% on his un-earned income, (which is less than half of what it used to be for millionaires like Mitt) he now gets to enjoy an unheard of 13.9% capital gains rate.  But this is only half the story.  According to David Cay Johnston, we would need to see his tax returns dating back to the mid 1980’s when he was CEO of Bain Capitol because it’s quite possible that Mitt Romney may have paid $0.00 in taxes throughout this period.

Post Navigation

%d bloggers like this: