Mitt Romney’s no job creator
July 26, 2012
Mitt Romney claims he is qualified to be president because he learned through business experience how to create jobs. Based on his tax plan, that means he will cut corporate taxes and drastically reduce regulation.
Also, his plan would encourage corporate investment abroad, instead of making job-creating investments at home.
Importantly, during his term as governor of Massachusetts, the state had the fourth worse record among the states in creating jobs.
Furthermore, there is no comparison between running a business and implementing government policies and programs that promote economic growth.
In the simplest terms, a business may create jobs if it offers a good product or service at prices consumers will pay, has adequate capital, and is well-managed.
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The federal government, however, must develop and implement macro economic policies that promote job creation nationally. That primarily involves fiscal policy (tax and spending), monetary policy (money supply) and regulatory policy. Job creation programs are critically important, especially in periods of high unemployment.
Mitt Romney’s record as a job creator is not impressive.
He was very successful managing a private equity firm, but that does not qualify him to be president. It’s a much bigger job than running Bain Capital.