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  • - Wealthy and Corporations Will Continue to Receive Payments

    JCwire, Dallas

    In a campaign stop in Dallas, Mitt Romney made it clear he will not be cutting entitlements if elected president. “People keep saying I would cut entitlement payments. I don’t know where they’re getting this. The opposite is true. If elected, I will keep in place all entitlement programs and may even increase them.”

    Pressed for an explanation of earlier remarks critical of welfare, unemployment insurance and school lunch programs, he elaborated: “No, no, those are reflective of government waste and dependency. I am going to cut those. What I’m talking about are payments to oil companies to incentivize them to drill, or to corporate farmers for price supports. I’m talking about tax credits for investors who had the foresight to put money into enterprise zones, tax free municipal bonds and the like.

    “These people and corporations are entitled to their government payments and I have no intention of cutting back on them. They have become integral to the very fabric of American Capitalism.”

    Asked whether it was better for the country to feed low income school children or guarantee corporate profits, Romney responded, “Look, the kids get breakfast and dinner and vending machine snacks. Three meals a day is just a suggestion. And if the low income kids get hungry, it will inspire them to do better than their parents so they can get good corporate jobs. But those corporations have investors they must satisfy. If they miss a quarterly earnings estimate, all hell breaks loose in the market.”

    Questioned about the need for such payments, Governor Romney replied, “The American Oil Industry had $200 billion in pretax profit last year and received a little over $4 billion in tax credits. That’s only 2%. Heck, I can get more cash back on my American Express Plum Card.”

    Democratic leaders denounced Romney’s remarks as out of touch with the average American. Senate Minority Leader Mitch McConnell responded to these criticisms, stating, “First they say they want entitlements; then they say they don’t. It’s just another blatant example of Democratic flip-flopping. Next they’ll be saying that the capital gains tax reduction in recent years isn’t an entitlement.”

    Debate has been rampant on the We made a commitment to these people and corporations - which we now know are people too - and we need to keep those commitments. We don’t want to be sending mixed messages. Besides, our base has said ‘no new taxes; by extension, that means no changes to our tax credits. In other words, ‘hands off!’”

    While Democrats cried foul, Republican leaders defended Romney’s position. “George W. Bush succeeded in reducing the capital gains tax rate to 15%, the lowest in decades,” said House Speaker John Boehner. “Look where that got us.” There were no rebuttals from an apparently stunned House.
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