Nel's New Day

June 19, 2012

Romney – Out of Touch

Mitt Romney is out of touch with the people of the United States, the media continually reports. One of the latest out-of-touchness is the Romneys’ attachment to horse dressage in which horses do precise sets of movements, some set to music. The horse is now participating in the Olympics. With his millions and millions of dollars, Romney can well afford to pay hundreds of thousands of dollars for a horse (although he personally owns only one-third of it), and that’s his personal business.  Beyond out of touch, however, is the fact that he used the horse for a $77,731 deduction on his 2010 tax return.

The big problem for the people of this country, however, is how far out of touch that Romney is with government policy. Romney wants to make the Bush tax cuts permanent; only 26 percent of the people want to even extend them for another year, and only 18 percent want the tax breaks to be made permanent. Of the 65 percent who want taxes cut for all or part of taxpayers, three-fourths thought that tax breaks should be extended to those who earn less than $250,000 a year, either for one year or permanently.

Going farther out of touch, Romney also wants an additional across-the-board tax cut on top of the Bush tax cuts, a cut that would disproportionately benefit the wealthy. He promises to close deductions and loopholes for the rich, but he hasn’t specified what deductions and loopholes, and won’t do so during his campaign.

One subsidy that would save enough taxpayer money to feed a few hungry children is the $76 billion subsidy for the banks. JPMorgan Chase got $14 billion all by itself, which may be a reason that Jamie Dimon and JPMorgan weren’t too worried about the $2 billion that the bank lost this last spring. Taxpayers paid for the $2 billion plus another $12 billion.

Banks put so much money into election campaigns and lobbying that no one—including the Democrats—will stop the subsidies including those to traders, require bank shareholders to put up enough capital to make bailouts highly unlikely, and let creditors take losses when banks get in trouble for greedy risks. The government is willing to force the post office to be more than self-supporting; they should try the banks next. Wait! They won’t because lawmakers don’t get massive amounts of money from the poor post office workers.

The tax issue isn’t the first one in which Romney doesn’t understand the voters. It follows a long history of policy recommendations that Detroit be allowed to go bankrupt, young people borrow money from their parents for college or just start a small business, and further reduce the number of teachers, police, and firefighters. He’s also shows his lack of understanding for women by wanting to make birth control illegal and erase the Affordable Care Act that tries to equalize health costs for both men and women.

Mitt Romney is out of touch.

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