Luna Tick
DP Veteran
- Joined
- Jan 31, 2010
- Messages
- 2,148
- Reaction score
- 867
- Location
- Nebraska
- Gender
- Female
- Political Leaning
- Undisclosed
I'm quoting a post made by someone by the handle of "outlandish" at the Huffington Post. It's written by a regular reader, not by a staff writer:
I found this well written and insightful. In short, a Romney presidency is a wild gamble with America's future.
outlandish
As we close in on Election Day, the questions about what Mitt Romney would do if elected grow even larger. Rarely before in American history has a candidate for president campaigned on such a blank slate.
Yet, paradoxically, not a day goes by that we don’t hear Romney, or some other exponent of the GOP, claim that businesses aren’t creating more jobs because they’re uncertain about the future. And the source of that uncertainty, they say, is President Obama — especially his Affordable Care Act (Obamacare) and the Dodd-Frank Act, and uncertainties surrounding Obama’s plan to raise taxes on the wealthy.
In fact, Romney has created far more uncertainty. He offers a virtual question mark of an economy
For example, Romney says if elected he’ll repeal Obamacare and replace it with something else. He promises he’ll provide health coverage to people with pre-existing medical problems but he doesn’t give a hint how he’d manage it.
Insurance companies won’t pay the higher costs of insuring these people unless they have extra funds — which is why Obamacare requires that everyone, including healthy young people, buy insurance. Yet Romney doesn’t say where the extra money to fund insurers would come from. From taxpayers? Businesses?
Talk about uncertainty.
Romney also promises to repeal Dodd-Frank, but here again he’s mum on what he’d replace with. Yet without some sort of new regulation of Wall Street we’re back to where we were before 2008 when Wall Street crashed and brought most of the rest of us down with it.
Romney hasn’t provided a clue how he proposes to oversee the biggest banks absent Dodd-Frank, what kind of capital requirements he’d require of them, and what mechanism he’d use to put them through an orderly bankruptcy that wouldn’t risk the rest of the Street. All we get is a big question mark.
When it comes to how Romney would pay for the giant $5 trillion tax cut he proposes, mostly for the rich, he takes uncertainty to a new level of abject wonderment. “We’ll work with Congress,” is his response.
He says he’ll limit loopholes and deductions that could be used by the wealthy, but refuses to be specific. Several weeks ago Romney said he’d cap total deductions at $17,000 a year. Days later, the figure became $25,000. Now it’s up in the air. “Pick a figure,” he now says.
Make no mistake. Wall Street traders and corporate CEOs are supporting Romney not because of the new level of certainty he promises but because Romney promises to lower their taxes.
I found this well written and insightful. In short, a Romney presidency is a wild gamble with America's future.