The Washington Post

Capitalism on trial

I know Newt is just saying this for political reasons, but it’s still pretty remarkable that he’s now flat-out endorsing the Democratic argument about Mitt Romney’s offshoring and his massive no-work profiting off investments:

When asked about Romney’s position on immigration, Gingrich said that deporting all undocumented immigrants is unrealistic.

“You have to live in a world of Swiss bank accounts and Cayman Island accounts and making $20 million for no work, to have some fantasy this far from reality,” Gingrich said.

Wow. First Gingrich endorses the Dem argument about Romney’s Bain years, claiming Bain’s profiteering “undermined capitalism.” Now he’s done it again, mocking Romney not just for offshoring, but for raking in huge profits off of investments while remaining idle.

Romney is half right when he says his critics are putting capitalism on trial. This election is putting his brand of capitalism on trial.

Whatever Gingrich’s motives for saying this stuff, he presumably is doing so because he thinks even some conservative-leaning voters will find Romney’s elite business practices distasteful. And judging by Romney’s rapidly spiking negative ratings among independents and blue collar whites, he’s probably right. There appears to be something approaching bipartisan consensus around the idea that some practices of capitalism are not completely above reproach. Who woulda thunk it?

Greg Sargent writes The Plum Line blog, a reported opinion blog with a liberal slant -- what you might call “opinionated reporting” from the left.


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