Sensata: Romney's Hypocrisy

Here is the latest from The Huffington Post which should encapsulate the story thus far and introduce this issue to those who might not be aware:

I really don’t care that Romney no longer owns Bain Capital, he makes a ton of money to this day so he is profiting from this. It seems trivially easy for Romney to either use his obvious connections with Bain to deal with this or have a big press conference where he divests himself of Bain stock because they refuse to listen to him plead with them to do the right thing.

Yet, his response is… Maneuver Sensata stock for a tidy profit, continue to make an even tider windfall from Bain itself and ignore the pleas of American workers losing their jobs to Chinese outsourcing.

My question to the Romney supporters: How can you trust his tough talk on Chinaand job outsourcing there when he cannot even stop it from happening within his own portfolio?

Obama’s portfolio also includes outsourcers. Chances are, yours does too unless you don’t own stock at all or are extremely selective without caring much about returns.

Might as well complain about companies that use automation.

You do know that his portfolio is in a blind trust, don’t you? He is not making any of the investment decisions.

The whole point of the blind trust is to avoid conflicts of interest. In this case it seems to be working perfectly. He might have personal investments in China, but it’s not impacting his public policy.

NPR-Just How Blind Are Blind Trusts, Anyway?

Vanity Fair-Purdum On Politics

More of your bullshit false equivalencies.

We can even put a dollar difference on your bullshit false equivalency:

Even if you were right and both sides were equal (note: they are not, you are idiotically and astoundingly wrong. What you said was dumb and you should feel dumb for saying it.) you still don’t answer my question:

I’ll wait for an answer that doesn’t hilariously indict Obama’s $11 windfall as the same thing…

The relevant Mitt Romney view on blind trusts comes at 0:28 of this video. The parts you like to believe are true are the rest of the video.

Despite the difference of opinion, all of the quotes are from Mitt Romney.

I know, I was really surprised too.

Are you still going with the unsubstantiated “They do it toooo!” defense? Next time, bring facts.

I already brought the facts against his assertion. I just want him to answer my question… I don’t think it’s unfair. Do you?

Not unfair at all. Probably not going to happen, though.

So your point is, neither candidate should pretend they have any incentive to get tough on China? Is that what you are saying?

I don’t think outsourcing to foreign countries should be stopped. Let capital flow to the cheapest source–that’s what creates the biggest favorable impact on our economy for the most people. By far. Trying to stop the practice is a fool’s errand. You don’t want jobs to go offshore? Be competitive. You can’t be competitive? Then you ain’t stopping the practice.

It is appropriate, as Romney points out, to demand that countries play by fair rules, including not manipulating their currency. Beyond that, the best thing that can happen to the U.S. economy is for companies to find the cheapest source to create their goods, including if that’s overseas.

BTW, Obama, Romney, and their economic advisers all fully understand this. But it doesn’t make for a good sound bite. Then we can all pretend that obstructing offshoring won’t significantly raise prices for everyone and rant about who can be trusted to “save our jobs.”

IANARS, but can you quote the part of your link where he talks tough on job outsourcing?

What does every candidate promise to do in regards to China? What does every President actually do?

I see none in the link. The hypocrisy the OP mentions is that Romney talks tough on creating jobs, while at the same time knowingly profiting from outsourcing to China. My only hope in this is that the national media decide to report on this company and have on-air interviews with the employees.

I see no hypocrisy unless Romney has said he would not allow any jobs to be outsourced to China. I’m sure he hasn’t, and I doubt Obama would take that stance either.

Obama is president right now. Why doesn’t he stop this injustice? This is going to happen whether Romney profits or not. But Obama can actually do something about it.

There is no conflict between creating jobs and outsourcing. Plenty of outsourcing going on during the Clinton years, yet net job creation was amazing. Exporting jobs doesn’t mean we have less on net anymore than exporting some of our oil means we have less to use. It’s called trade. We buy Chinese goods, they buy our goods. The balance is bad right now, but do you think workers would be better off if there was just less trade overall with China? Would workers benefit from paying higher prices as consumers?

China is engaging in some questionable activity and by all means a President should get tough. But trade isn’t the only consideration. Foreign policy matters too. I never get people who want us to tread lightly on every issue so as to avoid offending other countries, but want us to kick other countries in the gonads when it comes to trade.

It’s likely not an easy task to ‘get tough’ with a country that is holding your markers. One way to do that is to prevent the off-shoring of jobs without penalty (or at least without giving tax breaks to companies that do). Romney is profiting from putting Americans out of work, and getting a giant tax break by having the money go to a non-profit company. Surely, you don’t think this is a moral way to act.

I don’t think it’s “moral” to favor Americans over Chinese wrt jobs. In fact, since the US has a better safety net that China, one could argue that it’s immoral to prevent the jobs from going to China.

At any rate, both candidates know that all outsourcing is not bad. Neither candidate will actually say that, though.

While at the same time decrying the unemployment numbers? Seems fairly disingenuous to me. “Outsourcing” is one of those dehumanizing terms created by politicians and CEOs to mask the misery of families losing their incomes. Of course all outsourcing is not bad, but to give tax breaks to companies (and individuals) that do it is just wrong. Why give incentives for that sort of activity, when the companies will reap huge profits by doing so anyway? What companies like Bain are doing is really no different from what mobsters do: busting out a company by reaping maximum profits at the expense of bankrupting the company and putting the workers on the street. The only difference is that what Bain does is legal and on a much larger scale. Neither of them have the moral high ground.

There’s a “Stupid Republican Idea of the Day” thread in the BBQ for general bitching. This thread is about alleged hypocrisy of Romney wrt what Bain is doing and what Romney’s policies are. No one has as yet demonstrated any actual hypocrisy in that area. And as already noted, outsourcing and domestic employment are not zero sum games.

Where I live (Silicon Valley), we’ve got an improving economy and lots of job creation. And we’re the kings of outsourcing!