Thursday, May 17, 2012

Mitt Romney: "J.P. Morgan's $2 billion loss is someone else's gain"

 During an interview with conservative blogger Ed Morrissey, Romney was asked about his thoughts on the recent $2 billion trading loss suffered by J.P. Morgan (skip to 3:58)


Romney: That’s the way…America works. Some people experienced a loss in this case because of a bad decision. By the way, there was someone who made a gain, all right. The $2 billion J.P. Morgan lost someone else gained.

Reeeeeeeally, now?

While Mitt's right that somebody else did gain what J.P. Morgan lost, that doesn't take away from the fact that it was a really stupid thing to say. If some random thug robs someone on the street for $100, we don't say that it's okay because there wasn't a net loss of money between the two parties.

But here's another question. Does this mean Mitt doesn't have a problem with that whole wealth redistribution thing anymore? After all, money lost from taxes on a  rich person will be gained by someone else on a lower tax bracket, right?

1 comment:

  1. I would love to know WHO gained?

    ReplyDelete

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