Reader Supports Mitt Romney – By Robb Koether

Published September 29, 2012

This letter was published in The Farmville Herald on Wednesday, September 19, 2012.  We have added in-text links to supporting documentation for several  of Mr. Koether’s statements.

Editor, The Herald:

The theme of the president’s campaign seems to be “He deserves a second chance.” For the life of me, I cannot see why. I will not list the many broken promises from his 2008 campaign. I am sure that most readers are well familiar with them. (Remember Gitmo?) Instead, I will focus on just one of them. The president promised to cut the deficit in half during his first term. It is one thing to discover that one is unable to keep a promise that was made sincerely. It is another thing altogether to make an insincere promise and never even try to keep it. The president has made no attempt to cut the deficit.

Just as the Democratic National Convention was opening, our national debt surpassed $16 trillion. According to the U.S. debt clock (http://www.usdebtclock.org), this translates into over $140,000 of debt per taxpayer. This debt must be paid. We should realize that the government has only two ways to pay it back: take it from the taxpayers or inflate the currency, which will have the effect of indirectly taxing everyone, rich and poor alike.

Yet this is only the tip of the iceberg. Through entitlement programs, the government has made promises to its citizens, obligating itself to make future payments, including Social Security and Medicare payments. These obligations currently amount to over $120 trillion, or over one million dollars per taxpayer. Where in the world do we think this money will come from?

Now the president is promising to cut the deficit by $4 trillion. If he was unable or unwilling to cut it by a mere half trillion, why would anyone believe his promise now to cut it by $4 trillion? Even if he intended to do so, he has no idea of how to do it. He suggests that he would do it by taxing the rich. If you do the math, you will quickly discover that that is a pipedream. Bill Gates’s net worth is approximately $60 billion. If we confiscated all of it, it would finance a little less than 4/10 of 1% of the national debt. The other 99.6% would still be there and would still be growing. And we could not go back to Bill for more because Bill would then be a pauper, receiving government benefits. We could move on to the second-richest American, Warren Buffett. If we confiscated his $40 billion net worth, it would cover ¼ of 1% of the debt, and then Warren would be a pauper, too, and so on.

We are living the good life and sending the bill to our children and grandchildren. I was struck by the irony of vice president Biden’s statement, “they’re gonna put y’all back in chains.” Anyone who has been deeply in debt knows the oppressive nature of economic bondage. We are truly putting our children and grandchildren in those chains so that we can live easy lives. Nowadays “equity” seems to mean that our generation gets it all and the next generation gets to pick up the pieces. Where is the fairness in that!?

We need a president who has the courage to confront this matter. We need a president with fresh ideas. Obama has had his chance and he failed. It is only fair and right that we give someone else a chance. Someone whose business experience involved turning around bankrupt companies sounds like a good choice. Let’s give Mitt Romney a chance.

Robb T. Koether

Farmville

 

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