Mark Warner pushes back on Obama attack on Bain and private equity

The Virginia Democrat, who may still harbor his own White House dreams, joins other Democrats in taking issue with the Obama campaign’s ad assault on Bain Capital:

We can only wonder if Mr. Warner will get the Cory Booker treatment from the likes of Chris Matthews…or from that other MSNBC talking head, and former Virginia Democratic congressional candidate, Krystal Ball.

  • Natedogg614

    Kudos to Warner for speaking out on this one.

  • SWilliams

    Norman, Norman, Norman:

    Lo, thou croppeth Warner’s statement:

    “Different skill set, different time horizon”. ie, raiding firms for short term profits isn’t a presidential skill set. Unless you are invading another country perhaps.

    For the Drifters who missed what Warner said:

    ““Bain Capital was a very successful business,” Warner said. “I think they got a good return for their investors. That is what they were supposed to do. I think when you’re in public life, though, what you’ve got is a different time horizon. The notion that everything in government is exactly the same way that it is in business, they’re different time horizons when you’ve got to invest for the long haul, when you actually do the kind of early stage investing, whether in preschool, whether it’s in K-12, whether infrastructure, that doesn’t pay back quarter to quarter.””

    • So raising the taxes on millionaires isn’t “raiding firms for short term profits?”

  • SWilliams

    Ummm no. A progressive tax rate structure is not vulture capitalism.

  • Please explain how taking proportionately more from those who have the most is not a form of vulturism.

  • SWilliams

    If Mittens is paying a tax rate of 14%, he is not paying more proportionately. He is paying less proportionately than what the middle class is paying. Having an escalating tax rate does not equate with vulture capitalism. I think Mitt’s activities at Bain — and vulture capitalism in general — are best described by the following:

    “[They] loot companies, leave behind broken families, broken towns.” —Newt Gingrich

    “It’s the ultimate insult when Mitt Romney comes to South Carolina and tells you he feels your pain—because he caused it. […] There is something inherently wrong when getting rich off failure and sticking it to someone else is how you do your business. I happen to think that is indefensible.” —Rick Perry

    “Governor Romney has claimed to have created over 100,000 jobs at Bain, and people are wanting to know: is there proof of that claim? And was it U.S. jobs created for United States citizens? […] And that’s fair, that’s not negative campaigning.” —Sarah Palin

    “Governor Romney enjoys firing people.” —Jon Huntsman

    “While Mitt Romney was at Bain Capital, almost one out of every four companies they were involved with went bankrupt or went out of business.” —John Brabender, Rick Santorum campaign manager

    • See, you’re talking about “reported income” tax, not the tax that’s factored into corporate earnings or taken out before dividends. Trust me, the taxes are paid on those investments. But then again, you are arguing point and not principle. Tell me again how raising taxes on those who have the most is not vulturism…

  • MD Russ

    You are asking the right question, Andrew, one that the liberals always try to avoid answering. People earning at or near the median income pay no Federal income tax. But those who already pay 65% of all the Federal tax dollars need to pay more.

    As for the “loopholes, subsidies, and corporate welfare” that liberals love to whine about, these are the tax incentives for creating jobs and other responsible behaviors that supposedly justify the progressive tax brackets. Their logic is, “we will make you pay more taxes because you can. But we will allow you to lawfully avoid taxes if you do things that we like, such as creating jobs and supporting charities. But if you decide to take advantage of these incentives, then we will use that to demonstrate that you need to pay more taxes.”

    Beautiful, just frickin’ beautiful.

  • JayD

    Norm, thanks. My favorite part of the interview: Startup Act 2.0. Warner will never satisfy the far right (or the far left), but he’s one of the few grownups in DC trying to put the country before party interest. Startup 2.0 make sense; we should all get on board.

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