Wednesday, January 11, 2012

The Bigger Picture With Bain

So the other Republicans in the field are attacking Romney because he's a capitalist?

His company, Bain, bought up failing companies to make the hard choices necessary to keep them afloat. Sometimes that meant shutting down facilities and trimming large numbers of jobs. Why act like the alternative was not that these companies would die and all the jobs would be lost?

Romney gives his opponents a lot of ammunition for attack. Romneycare and other issues demonstrate that he has not been a down the line fiscal conservative. Republicans are right to scrutinize this part of his record.

However, Bain serves a purpose in the supposedly free market. Companies do not exist to provide jobs, add to the tax base, or anything else. They exist to turn a profit. When they do, they hire more people, pay more taxes, and do many other things as useful by-products. Why are we attacking the successful while pining over the failed?

The Bain story also gives insight into Romney that, objectively speaking, helps him. Presidents need to make tough decisions. Sometimes the alternatives are between bad and less bad, but a choice must be made, an action taken. Romney has experience making the difficult choices that result in short term pain, but long term success. Instead of backing off this important element of his past, the conservative thing to do is to embrace it. Proudly say that you saved x number of companies and jobs through making the tough choices.

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