$374,000 is “not very much” to Mitt Romney

After receiving criticism from Republican rivals as well as Democrats, former Massachusetts Governor Mitt Romney has agreed that he will release his 2011 tax return after it is filed in April.

Romney estimated that personal effective tax rate would be around 15 percent:

“What’s the effective rate I’ve been paying? It’s probably closer to the 15 percent rate than anything,” Romney, a GOP presidential candidate, said. “My last 10 years, I’ve — my income comes overwhelmingly from some investments made in the past, whether ordinary income or earned annually. I got a little bit of income from my book, but I gave that all away. And then I get speaker’s fees from time to time, but not very much.”

The last part of that quote is the most interesting.  How much does Mitt Romney make in speaker’s fees?  Well, Romney’s financial disclosure form reveals that he made $374,327.62 in speaking fees from February 26, 2010 to February 20, 2011.

That “not very much” is over seven times the median household income ($49,445) in the United States.  In fact, Romney made more than that amount — in one day — on three separate occasions over that year-long period.

Yes, I’m sure Romney meant the “not very much” in comparison to his investment income that he receives from his extensive portfolio.  But it still strikes at the fundamental tone-deafness that many voters perceive from Romney.

Mitt Romney is not a person who understands how the economy works from the perspective of the middle-class person.  He can’t even relate to the upper middle-class, for that matter.  He can’t understand the pressures that middle-class voters feel, and he can’t comprehend the anxiety that economic conditions like our current ones create.

Unless he finds a way to articulate and demonstrate how his policies that give continued favored treatment to the wealthy will help all Americans, Romney is going to have real difficulty trying to connect with the independent and undecided voters that will decide this election.

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2 Responses to “$374,000 is “not very much” to Mitt Romney”

  1. As yes, more envy from left. Does that get you anywhere?

    • Pointing out the obvious — that Mitt Romney is out-of-touch with the average American (as he’s demonstrated on numerous occasions) — isn’t envy.

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