–The Tea Party distrusts concentrations of power in both government and business. Romney represents both.
At the University of Michigan, Romney also spoke of his efforts to lure business to Massachusetts, pointing to a billboard he put up in California that bragged of his state’s relatively lower taxes — presumably relative to California.
Romney didn’t compete for business through lower taxes and regulation: He tried to entice them to the state with special subsidies. In 2005, Romney lured Spherics, a pharmaceutical company, away from Rhode Island by offering a $2.5 million direct loan from the state’s “Emerging Technology Fund.” That same year, he signed a bill creating the Massachusetts Film Office that was empowered to hand out special tax credits to studios filming movies in the Bay State.
Romney’s corporatism isn’t limited to the state level. In his 2010 book “No Apology,” he lays out a national energy plan including more federal funding for energy research and supporting subsidies for “infant industries.” He has supported that favorite of Iowa caucus-voters, ethanol subsidies.
During the 2008 race, Romney, according to the Orlando (Fla.) Sentinel, “pledged support” to a national catastrophic insurance fund. In other words, he wanted taxpayers nationwide to subsidize the property insurance of Florida. Of course, the insurers loved this one.
Then there was the pinnacle of big government-big business collusion, the Great Wall Street Bailout of 2008. Romney supported the Troubled Asset Relief Program, and still does today. Given the program’s unpopularity, he tries to inoculate himself a bit by criticizing Tim Geithner’s administration of TARP.
It’s the same line John Kerry gave regarding his vote for the Iraq War: The war was good, the dummies in charge just did it wrong. This is standard fare from technocrats. When their top-down plans go awry, they blame the implementation. When perfectly predictable problems arise — cronyism and mission creep in the case of TARP — those who supported the idea wash their hands.
But the problem with Romney isn’t just that his technocratic managerial style led him to central-planning, big-government solutions; it’s also that those big-government solutions always involve big-business profiting.
Read more washingtonexaminer.com/