Too Much Corporate Power?

THE STRATEGY of the romney campaign, obviously, is to make obama look bad. Nothing new about that. In doing so, the truth can only be stretched and distorted to a point. For instance, we all agree that when obama took office, the american economy was a train wreck.

So the question becomes, what exactly did obama do to the train wreck he inherited? De he clean it up, did he ignore it, did he make it worse, or did he make it better? The republicans want to persuade us that he has made it worse, but that's difficult, because things are obviously better now than when obama took office. For one thing, the economy is no longer collapsing.

The economy isn't collapsing, it simply isn't growing enough. In america, we expect big economic growth, by which is usually meant, in all truth, increased corporate profits.

Unemployment, inflation, stagnation, you name it, say the conservatives, and it has gotten worse since obama took office. And during the past four years, conservative policies, such as lower tax rates for all, would by now have stimulated the economy back into prosperity.

Take your pick. But let's be clear about one thing. Had the republicans been in office instead of obama, the big corporations that obama bailed out; Citigroup, AIG, Bank of America, GM...would have been bailed out.

There really wasno other choice. That's how important/monopolistic these corporations have become in the american economy. If those listed above go down, the country goes down, tragically, and we all know it.

Romney wants to give free reign to corporations to grow the economy. That means less government regulation, and thus, more potential for corruption, which, if left unchecked, assumes many forms. It means ever bigger corporations, with ever more power.

"Supply -side sconomics" is a slick term that means reducing tax rates for big businesses, to give them more money to invest, thereby stimulating and growing the economy, growing jobs. As long as they invest it. They don't have to.

Obama favors increasing tax rates on big businesses, knowing it will change their investment plans not a whit, but that it will provide revenue to invest in putting people back to work.