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2012 ElectionBusinessEconomyOpinionPolitics

Obama v. Romney: Lies, Slanders and Distortions

Obama likes to attack Romney personally because he’s rich. It is part of his Chicago Campaign, class-warfare, anti-rich, anti-business strategy.  However, Romney is rich because he has been a successful entrepreneur, leader, turnaround specialist, and manager. He has fulfilled the American Dream.  He didn’t inherit his wealth.  He, in fact, contributed all of his inheritance to charity. Romney is rich because he worked hard and he worked successfully.

Obama likes to attack Romney because he paid only 14% income tax – less than many Americans in the upper middle class. However, what Obama doesn’t want the American people to recognize is that Romney’s income comes from risk-investments in the economy, which are being taxed for the third time. Romney is not receiving a salary or wages. Wage income is taxed only once.  If you add up all three levels of taxation that Romney and other risk-investors, in effect, pay, Romney’s tax rate would be more than twice as high. In other words, the reason investment income and capital gains income are taxed at the 15% rate is because these taxes are the third tax.  In any case, tax law is established by Congress and the President to keep America competitive with other countries.

Obama likes to criticize Romney because he has some foreign investments and holdings. Obama hides the fact that Romney’s money has been in a blind trust since he was governor of Massachusetts. That means he has no say about where his funds are invested. The blind trust’s responsibility is to invest as wisely as it feels appropriate. Obama’s wealth, which is substantial, is also in a blind trust.  His wealth is also invested in some foreign companies and securities.  Once again we see Obama’s hypocrisy and his attempt to deceive voters by painting Romney as some evil, anti-American, money-hungry, foreign investor ― when he is doing the same things Romney is doing. 

Obama is also doing everything possible to divert attention away from his failed record as president. However, now that the American people are paying closer attention and are learning the cause of Obama’s failures – they are beginning to see the need for professional leadership and management skills.

I am not making idle claims here.  Since Obama became president, household income is down 8.2% ($4500).  12 million more Americans are on food stamps. In September, 83,000 more people signed up for Social Security Disability Benefits – bringing the total to 736,000 in this calendar year alone. The overall unemployment rate has been over 8% for 43 of the last 44 months.  The real unemployment rate (U6) is 14.7%.  The teen jobless rate is 23.8%, and those between 18 to 29 are at 16.7%. The U.S. labor participation rate has declined to 63.7% and over 23 million workers are currently unemployed or underemployed.  Health insurance has increased 18%.  Gasoline prices have more than doubled.  National Debt has increased from $10.6 trillion to $16.1 trillion.  And the current and projected Government Deficit ― $11 of spending for every $7 of revenue ―  is over one trillion dollars a year of money we must borrow or print. 

Needless-to-say, these are horrible numbers – not competitive with leading industrial countries – and indicate the U.S.A. is spiraling downward toward de facto insolvency.

Governor Mitt Romney has succeeded at everything he’s done. He is truly an extraordinary yet humble man. He worked as a missionary in France and later was elevated to Bishop in his church.  He graduated from Harvard with a Law Degree and a simultaneous Masters Degree in Business.  He formed his own company, Bain Capital, an investment firm, and turned around dozens of faltering enterprises, creating and saving thousands of jobs. He turned around the Olympics when it was failing. He turned around Massachusetts when it was seriously in debt, he balanced its budgets all four years, and reduced unemployment there to 4.7%. 

Mitt believes in the Judeo-Christian principles our nation was founded upon.  He contributed his entire inheritance to charity and contributes over 20% of his (triple taxed) income to charity. He pays more than legally required (14%) in Federal Income Tax on his risk-capital investments in the economy. He has been happily married to the same woman for over forty years and has successfully raised five sons.

Never has America been more in need of a proven performer ― a turnaround specialist ― a competent manager ― an exceptional Chief Executive.   Romney is that kind of expert who will serve without pay to fix our nation’s jobs, wages, gasoline, economic growth, taxation, deficit and debt problems . . . while protecting traditional American Values, Exceptionalism, and Global Respect. 

Try as the Obama Chicago Campaign and the Liberal-Leftist media might try to smear his character and his accomplishment, Gov. Mitt Romney is precisely the kind of accomplished leader, a non-career politician, that America desperately needs if we hope to salvage the American-Way – the American-Dream – for ourselves, for our children and grandchildren, and for our fellow citizens.

William Pauwels

William A. Pauwels, Sr. was born in Jackson Michigan to a Belgian, immigrant, entrepreneurial family. Bill is a graduate of the University of Notre Dame and served in executive and/or leadership positions at Thomson Industries, Inc., Dow Corning, Loctite and Sherwin-Williams. He is currently CIO of Pauwels Private Investment Practice. He's been commenting on matters political/economic/philosophical since 1980.