You might not have seen them on MSM, but the workers at a Sensata plant in Freeport, Illinois are fighting for their livelihoods. They’ve set up tents and are protesting to keep their jobs from being outsourced. The plant makes sensors and controls for cars and airplanes. Providing almost 200 Americans with good jobs. The town is already reeling from unemployment. The workers have put their heart and soul into a plant that is actually profitable.
Three of these protesters were arrested outside the plant yesterday - including a 16 year old girl, Karie Marie. None of that may ultimate matter, though, since a day before the presidential election, on November 5, the plant will be closed down and reopen in China.
No surprise, then, to know that it’s owned by Bain Capital. Oh yeah, the same Bain that learned its outsourcing from Mitt Romney. The Romney who’ll be running to lead the United States of America on a platform of creating jobs. You could argue he’s taking these people’s jobs so he could employ them later? Don’t bet on it.
Obviously such a cruel decision is fodder for spin maestros on Fox to disassociate Mitt Romney from this. Spin #1: He doesn’t work there anymore. The New York Times, however, obliterated this first myth months ago:
…Mr. Romney’s generous retirement agreement ensures that he continues to profit from the deals and decisions that Bain makes. He owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares. If Sensata saves money by closing the Freeport plant, that could add money to Mr. Romney’s trust accounts, now or after the election.
Spin #2 is even more outrageous: Romney is donating the money made from outsourcing Freeport’s jobs to charity which goes to show how kind-hearted he is. The Huffington Post busts this myth fair and square:
Moving the stock to his nonprofit brings Romney twin benefits. First, he gets to deduct the full value of the stock. At a 35 percent tax rate, that’s nearly a $250,000 benefit. At 15 percent, it’s just over $100,000.
And you wonder why his tax returns won’t be released?
Second, Romney is able to avoid paying capital gains taxes on the stock price increase. Romney’s returns list no cost for the stock, and indicate he obtained them as part of a partnership interest in Bain. Avoiding capital gains taxes on the full increase would save an additional $100,000. In 2010, Romney gifted $170,000 worth of Sensata stock to his charity, saving $25,000 in capital gains taxes that year.
Further, if Romney loves to help people out, why is he part of a corporation that’s taking away people’s ability to feed their kids?
Isn’t he arguing that the people of America don’t need hand-outs but jobs? Then why is he contradicting himself by handing-out money to American and taking their jobs away.
Because it profits him!
When all else fails, the final spin blame it on a word that starts with C. This is just good capitalism, people, they say. Yeah, taking American jobs, sending them over to China to be done by slave labor is good capitalism. Well, maybe it’s time someone said, good capitalism isn’t necessarily good for the Americans who aren’t rich enough to hold stock in companies that take away American jobs.
Here’s a guy who wants to lead America to more jobs as he continues to profit from Americans being made jobless. Americans like Joanne Penniston, a mother of two who’s worked at Sensata for years and has been on Twitter for days, asking Mitt Romney to intervene on their behalf. Being a responsible mother. A responsible American. And a responsible taxpayer.
She’ll lose her job to join the 47% of Americans who’ll be then conveniently termed “irresponsible”.
The truth is, Americans who aren’t voting for Mitt Romney aren’t irresponsible. They just don’t want to vote for a guy who makes money by betting against America. So here’s my question to you, Governor Romney: if you can’t fight for American jobs when you can make money off of it on November 5, how do expect people to trust you to fight for those jobs on November 6?
Note: Follow this story on Twitter under the hashtags #Sensata and #Bainport or follow the Freeport workers tweeting under @SaveSensataJobs.