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[LEAKED VIDEO] Mitt Romney Talks About Bain Profitting From Chinese Slave Labor

MaggieD said:
'Skuze me, but just who would these businesses be selling their products to? Not the wage slaves you envision, that's for sure. There isn't a business in the world that doesn't count on the USA's middle class. It's not going anywhere.
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There ya go lass, it appears as though you're actually starting to get it, though you still have some more pieces to fit together, not bad though.
 
Verax said:
Yes, yes, the answers to our problems are to lower taxes on companies and the wealthy individuals that own them
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on the wealthy? eh. no. tax code simplicity is the biggest hurdle right now - the cost of compliance with the mess we have now is massive. On corporations, though, absolutely. we have the highest corporate tax in the industrialized world. We actively chase businesses overseas by making it more difficult to build here and hire American workers. If you want to hire Americans, our government is going to come after and f--- you up to the tune of thousands of dollars per head for trying to do such at thing and furthermore we punish corporations if they bring money back to invest in America.

If you wanted to design an incentive structure that guaranteed that businesses would avoid America, you couldn't do too much better than what we have right now.

I find your general attitude that the solution to improving wages and employment is to punish business very odd. It is like arguing that the solution to hunger is to punish people for growing food.
 
cpwill said:
Mark Steyn has an excellent description of the basic competition at play: A young man in India gets' up at 0530 to go to school for engineering for 6 hours and then goes to work for another 4 hours making iPods that will be bought by a young man in America who gets up at 0930 to go to school for General Studies for 4 hours and then goes to a frat party. That's a balance of power that will only last for so long.
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In many countries, parents and students do everything possible to obtain the rare slots for education and particularly higher education. In the USA, many teachers do contortions to try to get students to like them so maybe, just maybe, their students might actually do and turn in simplistic homework. Americans tend to believe they are owed a job and have no concept that life is a competition, including economic and jobs.

Our daughter is one of the exceptions and she just went to her first year of college at a higher end pretigious private university. She has told us almost shocked at how many students were completely indifferent to being there for an education. It was just party time away from home and most searching for the easiest classes possible.

We had taught her the importance of education for education's sake but also to build her resume' beyond just education - for which hers is diverse and impressive. Although she has a full scholarship and money saved (because we required she work after school in HS and save at least 50%), when she went to the job fair - about 1000 students at it, she was the ONLY female dressed in a professional business woman's suit, neatly laundered - and with her awesome experience resume. ALL other female students were wearing cutoff shorts or jeans and T-Shirts. Few came away with job offers. She had nearly 2 dozen and half of those had actually searched her out - then seeing her and speaking with her told her the job was hers if she would accept - even jobs normally only offered to grad students.

Yet she did not immediately say yes. Instead, she spoke with us, considered her schedule, her private life, how it would enhance or hurt her resume', and how it would fit with her other job she already had obtained. Although NO economic study history, a Fortune 500 investment firm offered her a job as being their young presenter in their presentations to prospective clients - due to her impressive resume that included speaking experience from young children to college professors - and of course she had dressed perfectly. She figures adding experience of being a spokesperson for a financial firm would add to her science, academic, environmental, and employment resume.

The intensity of focus of Chinese and Indian students is so great that many universities make their admissions standards - even if AMERICAN of Asian ancestry - as much as 50% higher.

SO... we need to explore how American Asian ethnic families raise their children to try to figure why they are being FAR more successful in relation to their children and education - and ultimately future career potential.

PS... very early on, nearly anytime we were in a store, gas station, Wal-Mart or restaurant, when this daughter was younger - we would point towards the cashier, server, stockperson etc and ask her if that is what she wanted to do as a adult, because most people end up there. When she said no, we'd say "then lets work more on figuring how you can best avoid such a life."

I truly believe few American parents are training their children how to succeed economically in life and instilling the right habits to do so.
 
TurtleDude said:
Is envy of the wealthy all you have in your posts? tell us why should you get paid 5X what a similarly skilled or unskilled laborer in China gets? if you want to be on the top you need to have the skills that get you there
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You're right sir, I complain because I am just a humble man, an unskilled servant who desires to be more. However I must face reality, I am not one of the mighty job creators. Just the other day I attempted greatness. My friend needed some extra cash so he let me take a 51% controlling stake in the ownership of his car. The car is worth $20k, I only had $200, so I got a loan for 11k and took control of that beast. A few months later I decided I deserved some equity out of this, so I took out a loan against the value of the vehicle for 15k. Sadly a month later the car needed some repairs, they totaled 10k. I decided this was a good time to walk away from this arrangement. After all is said and done I ended up with 25k in profit off that original 200. My friend lost his car, his job, his wife. He blames me, I don't know why, the rules say what I did was perfectly fine. The people on Fox news said that not only is what I did right and legal, but I create jobs left and right. Imagine all the work I am creating by spending that 25k that I created out of thin air! I am truly remarkable.
 
No one - ever - has explained how raises taxes on anyone will create more jobs or get employees higher pay.

I don't even see how wanting to raise taxes on the wealthy has anything to do with this topic whatsoever.

The Democrats campaign has basically become singular - "MORE MONEY FOR GOVERNMENT."

There isn't even a hint how more money for government will create more jobs or get any employees a raise - EXCEPT government employees.
 
Whoever made this thread didn't even watch the video. It's probably full of exaggerations, but Romney says nothing in that speech that is in any way morally wrong.
 
joko104 said:
In many countries, parents and students do everything possible to obtain the rare slots for education and particularly higher education. In the USA, many teachers do contortions to try to get students to like them so maybe, just maybe, their students might actually do and turn in simplistic homework. Americans tend to believe they are owed a job and have no concept that life is a competition, including economic and jobs.

Our daughter is one of the exceptions and she just went to her first year of college at a higher end pretigious private university. She has told us almost shocked at how many students were completely indifferent to being there for an education. It was just party time away from home and most searching for the easiest classes possible.

We had taught her the importance of education for education's sake but also to build her resume' beyond just education - for which hers is diverse and impressive. Although she has a full scholarship and money saved (because we required she work after school in HS and save at least 50%), when she went to the job fair - about 1000 students at it, she was the ONLY female dressed in a professional business woman's suit, neatly laundered - and with her awesome experience resume. ALL other female students were wearing cutoff shorts or jeans and T-Shirts. Few came away with job offers. She had nearly 2 dozen and half of those had actually searched her out - then seeing her and speaking with her told her the job was hers if she would accept - even jobs normally only offered to grad students.

Yet she did not immediately say yes. Instead, she spoke with us, considered her schedule, her private life, how it would enhance or hurt her resume', and how it would fit with her other job she already had obtained. Although NO economic study history, a Fortune 500 investment firm offered her a job as being their young presenter in their presentations to prospective clients - due to her impressive resume that included speaking experience from young children to college professors - and of course she had dressed perfectly. She figures adding experience of being a spokesperson for a financial firm would add to her science, academic, environmental, and employment resume.

The intensity of focus of Chinese and Indian students is so great that many universities make their admissions standards - even if AMERICAN of Asian ancestry - as much as 50% higher.

SO... we need to explore how American Asian ethnic families raise their children to try to figure why they are being FAR more successful in relation to their children and education - and ultimately future career potential.

PS... very early on, nearly anytime we were in a store, gas station, Wal-Mart or restaurant, when this daughter was younger - we would point towards the cashier, server, stockperson etc and ask her if that is what she wanted to do as a adult, because most people end up there. When she said no, we'd say "then lets work more on figuring how you can best avoid such a life."

I truly believe few American parents are training their children how to succeed economically in life and instilling the right habits to do so.
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a dozen times I like this post.

It's a mixed bag. I know that I will succeed and that my children will succeed, because the general populace that we are competing against is... not impressive. But I weep for what it means for my nation :(.
 
Verax said:
You're right sir, I complain because I am just a humble man, an unskilled servant who desires to be more. However I must face reality, I am not one of the mighty job creators. Just the other day I attempted greatness. My friend needed some extra cash so he let me take a 51% controlling stake in the ownership of his car. The car is worth $20k, I only had $200, so I got a loan for 11k and took control of that beast. A few months later I decided I deserved some equity out of this, so I took out a loan against the value of the vehicle for 15k. Sadly a month later the car needed some repairs, they totaled 10k. I decided this was a good time to walk away from this arrangement. After all is said and done I ended up with 25k in profit off that original 200. My friend lost his car, his job, his wife. He blames me, I don't know why, the rules say what I did was perfectly fine. The people on Fox news said that not only is what I did right and legal, but I create jobs left and right. Imagine all the work I am creating by spending that 25k that I created out of thin air! I am truly remarkable.
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There is no truth to that story because the math of the loans doesn't add up.

It was your choice to be "unskilled."
 
Verax said:
You're right sir, I complain because I am just a humble man, an unskilled servant who desires to be more. However I must face reality.
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Indeed you must. If you wish to be more, you must work hard, educate yourself, and avoid self destructive decisions such as divorce and debt.

Just the other day I attempted greatness. My friend needed some extra cash so he let me take a 51% controlling stake in the ownership of his car. The car is worth $20k, I only had $200, so I got a loan for 11k and took control of that beast. A few months later I decided I deserved some equity out of this, so I took out a loan against the value of the vehicle for 15k. Sadly a month later the car needed some repairs, they totaled 10k. I decided this was a good time to walk away from this arrangement. After all is said and done I ended up with 25k in profit off that original 200. My friend lost his car, his job, his wife. He blames me, I don't know why, the rules say what I did was perfectly fine. The people on Fox news said that not only is what I did right and legal, but I create jobs left and right. Imagine all the work I am creating by spending that 25k that I created out of thin air! I am truly remarkable.
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On the contrary, your friend has an excellent case against you, as he still owns 49% of the vehicle from which you pocketed 100% of the return, and the bank has an excellent case against you, as you committed fraud when you claimed 100% of the vehicle when you took out a $15K loan from it.

:) but then, you didn't do this, this is something you copied from elsewhere, from another fool who didn't understand venture capital.
 
cpwill said:
We should. And plenty of people do, just increasingly less so. Measures of Industriousness have been decreasing in the American lower income deciles for some time now, with the result that these people not only earn less than they could, but have reduced human capital which reduces the cap they can ever earn. But instead we tend to blame others for our lack of industriousness (darn foreigners, who told them they should try to improve the lives of their children!). It's the same logic that poor whites used to use to try to put policies designed to harm black laborers into law, but now instead of trying to harm blacks to help lower middle class whites, we try to harm chinese to help lower middle class whites. The problem being that those measures actually do not help anyone. As aggregate production falls and we are forced out of our comparative advantages, everyone suffers. Trade wars are wars that governments wage against their own people.



You deserve what you earn. You do not deserve an easy life just for showing up, and you do not deserve the right to use government to tear down the lives of others in the futile hope that somehow you will be able to enrich yourselves from what's left.
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You have it all figured out boss, simply miraculous. The way the average people in this country use the government as a big bully in the marketplace sickens me. Just the other day I saw this maintenance man and Obama talking in an office, he was making a deal that if he gave Obama the rest of his lettuce sandwich Obama would send a lucrative trash emptying job his way, I **** you not, he was going to send him like $90 bucks of work his way under the table. These kinds of deals that rob the wealthy and corporations of a fair free market in favor of workers is just out of control.
 
joko104 said:
There is no truth to that story because the math of the loans doesn't add up.

It was your choice to be "unskilled."
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well I don't think he wrote it. that smells like something a huffpo writer would put together to try to describe Bain.
 
Maybe my philosophies are just juvenile.

On economics, they tend to be The 3 little pigs and the ant and the grasshopper. YOU bear the consequences of your inactions and YOU have the rewards of your efforts.

Other than just myself, I know many other people who came from having nothing or were reduced to nothing and had to rebuilt. They did it by their HARD efforts, not handouts. They built their own successes by their hard work and efforts.

I and others also quickly learn a strange quirk of human nature. If YOU help someone, then they decide that YOU owe THEM and YOU are now responsible for them. Thus to their mind all their problems now are your problems for you to take care of for them. I could give many examples.
 
Verax said:
You have it all figured out boss, simply miraculous. The way the average people in this country use the government as a big bully in the marketplace sickens me. Just the other day I saw this maintenance man and Obama talking in an office, he was making a deal that if he gave Obama the rest of his lettuce sandwich Obama would send a lucrative trash emptying job his way, I **** you not, he was going to send him like $90 bucks of work his way under the table. These kinds of deals that rob the wealthy and corporations of a fair free market in favor of workers is just out of control.
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putting aside the worst of the idiocy, do you realize that when you punish business you are punishing the people who work at those businesses?
 
joko104 said:
There is no truth to that story because the math of the loans doesn't add up.

It was your choice to be "unskilled."
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I know right. Wouldn't that be just... insane? If, there was this system in place, where people could extract more money from an entity than exists... and then leave that entity in the dust while you run off with mountains of cash that you "earned" scot free while the company and it's workers are left bankrupt...? I have to tell you... if there was a person awesome enough to do such a thing.. why I might just vote for that person as President of the United States! Wow if only we had a guy like that... shucks.
 
joko104 said:
I and others also quickly learn a strange quirk of human nature. If YOU help someone, then they decide that YOU owe THEM and YOU are now responsible for them. Thus to their mind all their problems now are your problems for you to take care of for them. I could give many examples.
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That works in reverse as well. If you get someone to do you a minor favor, and then thank them profusely for it, they will be more likely to do you more favors in the future than the situation was reversed and you had done them a favor.
 
Verax said:
You have it all figured out boss, simply miraculous.
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:) well no. but I'm grasping my way there :)

The way the average people in this country use the government as a big bully in the marketplace sickens me
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nah. average people get screwed over when folks use government as a bully. the dirty little secret is that the larger a corporation is, the more likely it is to support increasing the regulatory burden - this increases the cost of entry, and protects them from competition from rising start-ups. Heavy regulatory burdens, the estate tax, and a few other things are measures that are in force because they sound good to many people, but actually function to protect wealthy, ensconced interests against competition from rising members of the middle class.

Government shouldn't try to aid one group or another, it has no business trying to pick winners and losers in the market place.
 
cpwill said:
putting aside the worst of the idiocy, do you realize that when you punish business you are punishing the people who work at those businesses?
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no no no.. jobs happen via magic.. the more you slam the job makers and risk takers the more job appear via majic..

Obomanomics 101

Higher debt equals success

Less Jobs equals success...

105 rounds of golf equals genius...

time to flush the POS Obama..
 
You tell 'em sister! The fact that Americans are fighting against lower wages, lesser or ending healthcare benefits, less rights as a worker, less taxes for the rich, raising taxes on the workers, putting the environment ahead of company profits... these people are nuts. How are we going to become more like China without moving in that direction? One of these days you spoiled, whiny Americans will just shutup and be more like the Chinese, only then will America truly be great.
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Exactly, if they'd work for two dollars an hour with no benefits the jobs would have never left. This would have triggered the trickle down economics effect which would enrich the workers beyond their wildest dreams, quite possibly a raise to $2.25 an hour.
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Aw shucks you're right. I guess we should get a job and work hard, nobody really does that anymore in America. If only I could learn the values of incredible people like you, father figures, grandmasters of righteousness, a true guide in times of strife. Here here Americans, work hard and be happy for what little you get, because truly, you deserve less, or nothing. The only people in America that deserve everything are those on top. Sadly these patriots only hold 85% of all wealth, certainly it should be more like 95%. If only more were like cpwill, we could make this a reality. Dream big patriots, and don't forget to work hard, somebody else is depending on it.
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Well, we can either race China to see who can impoverish their workers better to win that rat race to the bottom. Or, we could invest in advancing our futures through technology, education, sustainable energy, increased efficiency through improved health care (focusing on preventive care), etc.
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Yes, yes, the answers to our problems are to lower taxes on companies and the wealthy individuals that own them. This will have the wonderful effect of forcing cuts to government spending, with any luck this will increasingly impoverish the average joe worker. This in turn will effectively be the same as lower wages, less benefits. What more could our fine Chinese... I mean America citizens ask for?

Oh yes those nasty regulations too, their only reason for existing is to punish companies for no good reason, just like how democrats punish success because they jelly. If only we lifted these nanny regs and unleashed the free market, we could have another 2008 financial boom of epic proportions! We all know how chaotic situations benefit the average joe, losing his job and going into crisis mode is American exceptionalism at it's finest!
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#Winning

- Charlie Sheen
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There ya go lass, it appears as though you're actually starting to get it, though you still have some more pieces to fit together, not bad though.
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You're right sir, I complain because I am just a humble man, an unskilled servant who desires to be more. However I must face reality, I am not one of the mighty job creators. Just the other day I attempted greatness. My friend needed some extra cash so he let me take a 51% controlling stake in the ownership of his car. The car is worth $20k, I only had $200, so I got a loan for 11k and took control of that beast. A few months later I decided I deserved some equity out of this, so I took out a loan against the value of the vehicle for 15k. Sadly a month later the car needed some repairs, they totaled 10k. I decided this was a good time to walk away from this arrangement. After all is said and done I ended up with 25k in profit off that original 200. My friend lost his car, his job, his wife. He blames me, I don't know why, the rules say what I did was perfectly fine. The people on Fox news said that not only is what I did right and legal, but I create jobs left and right. Imagine all the work I am creating by spending that 25k that I created out of thin air! I am truly remarkable.
Click to expand...

You have it all figured out boss, simply miraculous. The way the average people in this country use the government as a big bully in the marketplace sickens me. Just the other day I saw this maintenance man and Obama talking in an office, he was making a deal that if he gave Obama the rest of his lettuce sandwich Obama would send a lucrative trash emptying job his way, I **** you not, he was going to send him like $90 bucks of work his way under the table. These kinds of deals that rob the wealthy and corporations of a fair free market in favor of workers is just out of control.
Click to expand...

I know right. Wouldn't that be just... insane? If, there was this system in place, where people could extract more money from an entity than exists... and then leave that entity in the dust while you run off with mountains of cash that you "earned" scot free while the company and it's workers are left bankrupt...? I have to tell you... if there was a person awesome enough to do such a thing.. why I might just vote for that person as President of the United States! Wow if only we had a guy like that... shucks.
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This is what dishonest posting looks like. Verax, in all this you made one statement that wasn't snide, smart alec derision---its bolded. You aren't debating. You also have a gigantic chip on your shoulder about Romney and the way he made money. The problem with your echo chamber narrative is there are a lot of successful companies still around because Bain bought them out, made them run better and they later expanded and are strong employment opportunties. Somehow Bain didnt wreck those companies, why do you think that is?

In the video it looks at though Romney is extolling the opportunities of the US versus those of people around the world and how much we take it for granted. Hes probably right.
 
pbrauer said:
the jobs these women are performing were once performed here in America. go to a store and see we're most of the finished goods are produced --- China!!
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Well, those dirty racists!
 
I must be working off a different definition of slavery or something.
 
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