9/27/2012

Welfare Queens

Mike Lofgren hits a lot of high notes from the vantage point of his experience behind the scenes in the Repuglican Party. His latest piece that analyzes the "welfare queens" that Willard Romney never talks about is right on target: Meet the Welfare Queens of the 1%: The Moochers Mitt Missed Work for the Pentagon.

To quote Mike, "Unlike the cases of Dimon or Blankfein, I doubt one American in a thousand knows who Wes Bush is. The CEO of Northrop Grumman, he made over $26 million last year, exceeding JPMorgan Chase's payout to Dimon, the highest paid bank CEO. In fact, the chiefs of the five largest Department of Defense (DoD) contracting firms hauled in $107 million combined, more than the top five bank CEOs (who limped in with a mere $75 million altogether). Yet somehow, this form of income redistribution through the medium of government manages to bounce off the consciousness of people like Romney and his supporters like Swedish peas off an Abrams tank."

The 1% are a lot more dependent on handouts than the 99% because rather than being "job creators" they are completely useless without the money and power for leverage. Put 'em in a Walmart, McDonald's, or Starbuck's uniform and watch them get fired on the first day. And Willard is one of them. He needed a $10M bailout back in the 90's to keep his BS "consulting business" from going belly-up.

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