STOP Framing "us"

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

Archive for the tag “vulture capitalism”

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.

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.

Why Mitt Romney is ‘out of touch’ with the rest of us: His role in keeping the Legacy of Trust Fund babies going!

Mitt Romney is a classic example of a trust fund baby.  He began life with everything handed to him on a silver platter, including a million dollar (or more) trust that he was able to use to get ahead in his adult life.   Similarly, Mitt Romney is dusting off that silver platter his daddy gave him in order to put $100 million on it, which he will then hand to his children, (while avoiding his tax obligation, of course).  Talk about an un-level playing field, but then again, this is what life is like for members who are born ‘privileged’ in America.

These spoiled brats use daddy’s money to make more money and then use daddy’s influence and connections in Washington to rig the tax code in their favor so they don’t have to join the ranks of the working folk.  Instead, their days are filled by sitting around the pool with other trust fund babies waiting for the next dividend check to arrive.  This is how the top 0.1% makes their money.  They are nothing more than a collection of trust fund babies, who are catapulted into positions of leadership and power, all while attempting to convince the rest of us that they actually worked hard for it!

Their definition of working hard is hiring people with daddy’s trust fund money to come up with creative ways to feed off of the living wages of those who actually work hard for a living.   This is how Mitt Romney made his money, by firing people and stealing their pension funds.  It’s ironic how one group of people (bottom 99.9%) earns their money the hard way, and another group (top 0.1%) comes along and finds ways to steal it from them because they believe they are entitled to it!  We shouldn’t be surprised, however, since they are spoiled brats!

Where have we heard this language before?

“sense of entitlement” = “welfare recipients” = “no work ethic” = “feeding off the system” = “entitlement programs” = “European style Socialism”

This group of ‘privileged’ members of the lucky sperm club, who collect un-earned income checks have the audacity to turn around and “frame” the millions of people who actually work hard in this country for low wages as being “welfare recipients”, who they claim are sitting around and collecting a free (ie, un-earned) check.

This is amazing! Members of the “privileged sector” are literally “framing” the working poor in this country for their actions!

What’s interesting about this phenomenon, besides the fact that it has largely gone unnoticed, is that everyone basically agrees that sitting around doing nothing and collecting a check, while others must work for their money is not right.  This is what makes this frame so effective, and it is working to convince millions of people that the victims of the immoral acts being committed by the “privileged sector” are somehow responsible for their own low wages, raided pension funds, less time off, and mandatory un-paid overtime hours worked.  How else can we explain the steady rise in productivity of our workforce, while wages are actually declining, or remaining flat, at best?

What people are missing is that the only reason why so many millions have to work for minimum wage and barely scrape by is because those at the top want more!  In order to keep those dividend checks flowing to the top 0.1%, as illustrated by Mitt Romney, who doesn’t even have a job, but yet deposited millions worth of dividend checks last year, ordinary workers must earn less.  This is characteristic of what has become known as the race to the bottom in terms of wages being paid to workers, so the difference can be paid to the top in the form of dividends.

In order to continue this bonanza for the next generation of trust fund babies, it becomes necessary to misinform the public with the help of their ‘pool buddies’ in the corporately owned media by using Orwellian language to convince the rest of us that the opposite of reality is true.  That somehow those at the bottom do not work hard and are feeding off of the system, so they can keep people looking down instead of up when casting blame for what’s wrong with our society.

Another prime example is “framing” Mitt Romney’s actions of cashing enormous dividend checks, for instance, as being the result of creating jobs.  Hence the “job creator” frame is readily applied to his behavior.

In reality he and other trust fund babies are sponging off of the rest of us by shipping our jobs overseas, and dismantling entire companies in order to continue the flow of dividend checks to fellow members of the “privileged sector.”  In this sense, Mitt Romney is actually a “job cremator”, who gets to live the rest of his life off of the pension money other people should be receiving for their hard work over the years.

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.

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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.

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