Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. Abraham LincolnMitt Romney wants to replace Presdient Obama as well as Abraham Lincoln, whose bust he wishes to remove from the Oval Office as a nod & a wink to his "Special Relationship" to the "Anglo-Saxon Heritage". What Mitt has been doing his entire life, through off-shoring and out-sourcing American Jobs and dismantling American Companies is to make Capital superior to Labor.
Caterpillar Inc. announced record-smashing quarterly earnings Wednesday, trouncing 2011 figures and previous projections by market analysts, even as a strike at its Joliet plant is nearing the three-month mark.That sure is great but while Caterpillar is posting back-to-back-to-back-to-back record quarterly profits they are working to lower the wages and pensions of their workers. Why isn't Caterpillar's CEO compensation and worker's salaries tied together?
The industrial manufacturing giant posted sales and revenues of $17.37 billion – a 22 percent increase over the previous year – including a quarterly profit of nearly $1.7 billion. The company also raised its profit outlook to $9.60 per share.
Why would Caterpillar Inc. be focused on freezing workers pay and pensions? Because Capitalists see high labor prices as an unnecessary evil. Why pay American workers high salaries when with the help of Republican Party and Pro-Business Democrats you can off-shore jobs to slave wage nations and (via Mitt Romney's proposed plan) repatriate overseas profits as tax breaks.
In 2004, the Swiss Banking Giant UBS began approaching affluent Americans (in Banking terms affluent means net worth of $50 Million plus) with the idea of setting up dummy off-shore Corporations. By early 2009 at least 52,000 Americans had hid at least $20 Billion in those off-shore tax havens. UBS paid the IRS a $780 million fine for aiding these Rich Criminals in defrauding tax payments.
But, as Senator Jon Kyl pointed out those Rich Criminals are just better than you,
"President Barack Obama should stop talking about the middle class because it turns people against rich Americans, who should be embraced as the Michael Jordans of the U.S. economy," Senator Jon Kyl (R-Ariz.)As the right-wing universe spearheaded by Faux News tries to rebrand Mitt Romney's time at Bain Capital we see the old ploy of relabelling of concepts which Humanity correctly considers odious into fresh new terms. Hence the word Imperalism is no longer used by Imperalists, what they talk about today is Free Market Capitalism.
"Here's Jordan for three... Yes!!! Did you see that look? Michael, he can't believe it." - Marv Albert recalls Michael Jordan's retroactive shrug following his invocation by Senator Not Intended to be a Factual Statement Kyl.
Free Market Capitalism and what Mitt Romney did at Bain Capital is nothing more than the new name for an old idea. Which is too steal labor, resources and lives of 99% of the world to enrich a very small cadre of Plutocrats, or Class Warfare.
Mitt Romney did the same thing as a "Venture" Capitalist. Buying up companies, loading them with debt to inflate their worth and selling them off to make a profit. Mitt did not invent the practice nor is he the worst example of it. But, his legacy of sending American Jobs overseas is alive and well at Bain Capital.
Sensata is owned by Bain Capital, the private equity investment firm that the Republican presidential candidate once led and that has been the subject of a campaign debate about jobs and outsourcing. Romney had long since left his leadership position at Bain when Sensata bought the plant in 2010, but the Freeport City Council recently passed a unanimous 8-0 resolution calling on him to come visit and help keep the jobs in town. The workers have written him directly.And even while Mitt Romney, boating enthusiast, laughingly jets around Lake Winnipesaukee he ignores the pleas of the victims of his evil crimes.
And this doesn't even go into the giant LIBOR manipulation scandal of Barclay's and dozens of British and American banks. Or the evil, corrupt Bankers at HSBC who while gouging every decent hard-working person who might be late on a payment was busy laundering millions of dollars from Mexican Drug Cartels, FARC guerrillas and Al Qaida Terrorists. Barclay's LIBOR rate rigging is nothing new.
Imperialists have always sought new methods and tools to extract the wealth from the poor and transfer it to themselves. It's all legerdemain. A shell game designed to Steal.
But, when dealing with Theft of this magnitude. Theft of Generations. Theft of Lives. Theft of the Wealth of Nations. You can't call it what it is.