Why does anyone care about the economically clueless? Because, unfortunately, they vote.
In his Aug. 27 letter, “Greed drives Romney, Ryan,” Paul Presler rails against Mitt Romney because the candidate has a few million invested overseas “to escape taxation,” ignorant of the fact that the income of U.S. citizens is taxable no matter the source. However, what is near treasonous in Presler’s eyes is apparently fine for President Obama and his backers, such as shadowy billionaire financier George Soros who invested almost $1 billion in Petrobras, the Brazilian state oil company, while the Export-Import Bank, a government-run bank, offered a $2 billion preliminary loan commitment to that same company. Guess it’s OK for a Democrat to invest billions overseas but traitorous for a Republican to do the same with chump change, by comparison.
Presler thinks that a few extra million in U.S. banks would “generate revenue for the U.S. economy,” but, thanks to Obama’s Federal Reserve, banks are awash in money. Business refuses to borrow because Obama has kept his promise to “fundamentally change America.” Cheered on his way, he is driving the country off a fiscal cliff into bankrupt, European-style socialism. Near 40 percent of American’s wealth has evaporated over the last four years. How much poorer do you want to be?
Richard Willerton
Vancouver
