economy

 Dear Mr. President,

"Swiss Bank Account" highlights Mitt Romney's belief that a strong economy is built on outsourcing, loopholes and risky financial deals. As a corporate CEO, he shipped American jobs to places like Mexico and China. As governor, Romney outsourced state jobs to India, and now as a candidate for president he is pushing tax breaks for companies that ship jobs overseas.

Romney's economic scheme stands in stark contrast with President Obama's efforts to continue moving the country forward by rebuilding an economy that's meant to last, by out-building, out-innovating and out-educating the rest of the world, and making the things the rest of the world buys by closing loopholes and providing incentives that are bringing jobs back to America.

The video outlines the challenges America faced as President Obama took office at the height of the worst recession in almost a century and details the progress that has been made reclaiming the security of the middle class and building an economy that's meant to last, where hard work pays and responsibility is rewarded.

Mitt Romney's message was clear: "Let Detroit go bankrupt." There's little question he made a fortune from businesses he helped destroy.

Romney pocketed huge fees shortly before companies collapsed. Even when the businesses failed, Romney came out ahead.

Are those the values we want in an American president?

Democratic governors are getting the job done.

Mitt Romney has a vision:

Mitt Romney believes millionaires like him are entitled to pay taxes at a lower rate than teachers, cops or construction workers.

Romney is worth as much as $250 million, but only paid about 14% in federal taxes last year - less than what many middle class American families pay.

The 7 biggest lies about the economy.

1. Tax cuts for the rich trickle down to everyone else. Baloney. Ronald Reagan and George W. Bush both sliced taxes on the rich and what happened? Most Americans’ wages (measured by the real median wage) began flattening under Reagan and have dropped since George W. Bush. Trickle-down economics is a cruel joke.

The causal story off that graph is something like “in the ’90s, bringing down the deficit through a balanced mix of tax increases and spending cuts was a net positive for growth.” The correlation story off that graph is “the ’90s were a good time for the global economy, and Clinton’s economic management was, at best, a small part of the decade’s successes.” The obviously wrong stories are “tax increases are incompatible with growth” and “Bush’s management of the economy was successful.”

Beneath all of the Republican and Tea Party grumbling about taxes, one key fact continues to be ignored. Federal taxes are lower than at any time since 1955. Obama has now reduced taxes by more than any president since Dwight D. Eisenhower.

…“For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955… All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s… The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.”