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Romney: Out of Touch with Mainstream America
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First, multimillionaire Mitt Romney told a group of jobless workers he’s also “unemployed.”
Next, Romney thought there was no problem in stating publicly that he likes to “fire people.”
Now, the Republican presidential wannabee proved yet again how out of touch he is with mainstream Americans by showing the extent to which he’s a member of the elite 1 percent. In South Carolina yesterday, Romney admitted he pays “around” a 15 percent tax rate, while earning $374,000 a year in speaker’s fees alone—an income he described as “not very much.”
While estimates vary on what income or earnings qualifies someone to be part of the elite 1 percent, there’s agreement that the minimal annual income for that aristocratic group is $350,000 a year. Meaning Romney’s speaking fees alone put him in the 1 percent.
Meanwhile, Romney’s low tax rate—people making more than $35,000 a year pay a 25 percent tax rate, while personal tax rates go up from there to 35 percent—is based on investment income, rather than—his words—”ordinary income.” You know, the kind of “ordinary” hourly pay and annual salaries the vast majority of us “ordinary” wage workers depend upon for survival.
Working Americans, whose median annual income is $49,445, would have to work more than seven years to make what Romeny said he raked in via speaker’s fees alone in one year. But 1 percenter Romney sees that sum as chump change.
For someone like Romney, who’s worth an estimated $250 million, it sure is.
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10 Comments
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This is the understatement of the century,he has been out of touch with reality since birth,you know that silver spoon.
Could be, Union Brat, but I think that Meth Romney is more out of touch because of his political advancements within the looney Repugnant commercial mafia cult Party, which Party subscribes to radicalism that is far more extreme than anything any mainstream political party in our country has ever been diseased by.
http://abcnews.go.com/Blotter/romney-parks-millions-offshore-tax-haven/story?id=15378566#.TxiV3oGlNEP
Mr Libris i am sure folks have seen or heard of this but it is a good reminder of what republicans condone.
Mr Romney,s speaking fees.$374,327(one year.) said by him to be “not Much” are My ANNUAL income x18.NOt bad hey?
Any speaking jobs out there??
One thought after viewing the S Carolina debate and Audience reaction. Jim Crow is alive and well in the South!
http://reason.com/archives/2007/06/27/romney-torture-and-teens
Here is another reason he is out of touch with reality.
Date-Line: San Marcos CA 92078, 1-18-12 1:50am PST
UNfortunately – Many of the Congress are as confused as
Mitt about “Ordinary People” – They Do Not represent the
Constituents that elect them, They are in the FOG about 99%
of the Time, Most have Filed at everything that is A JOB or WORK,
and so “WE Get get what We Get” – The WORST COLLECTION OF
Candidates – ?? For President ever – Corporations are NOT
People -as Corporation “DO NOT DIE” – My Grand Father Told
Me, “Son” — “Better to let People think you’re Dumb, Ignorant,
Illeterate – Than OPEN YOUR MOUTH and CONFIRM IT !!” -
Next: Immigration: Use Of the Term “ILLEGAL AILIEN” or
“ILLEGAL IMMIGRANT” – Shows Stupidity, Ignorance, Illeretaate
and Un-Educated Of the INDIVIDUAL Expressing Those Terms –
ONLY a Judge In A Court of Proper Jurisdiction can Determine
What is Lawful or Illegal — Only a Judge Get The Picture –
As to Oath Of The Congress — Office All Members who are OBSTRUCTING ROUTINE FUNCTIONS OF THE D U T Y of each
Are In Violation of their Oath Of Office and Subject to “IMPEACHMENT” and EVICTION FROM OFFICE and LOSS OF
all PAY, BENEFITS, INSURANCE, PERKS, VOTING, HOLDING
any OFFICE DOING BUSINESS WITH THE GOVERNMENT OR IS CONTRACTORS FOR LIFE, NO LOBBY FILANDERING– TO NAME A FEW– It’s only my oppinion– I would be willing to Wager that
80% of Congress Can NOT Name all 50 States, all State Capitols,
Do Not know “Robert’s Rules Of Order”, “Duties & Liabilities of
Corporate Officers and Directors (M.Nicolson), Or – GAAP — or
FCC, FAA, IRS, FDA, DOD, NOAA, NASA, Give Me A Brake –
CONGRESS IS DOING WORSE THAN” WHO ?? ” you ask IT Is
“Bernie Madoff” and He got 150 Years for only 50 Billion –
Come On America Is Any One Out There THINK, What about
the “Uniform Code Of Military Justice” Don’t Impeach Pres.
“Georgie Boy” Ceneral Courts Martial HIM with 5-Star General
Powell presiding Like The “Tom Cruise – George Nickolson and
The “GIRL” is Still a “10″ Movie –”YOU CAN’T STAND THE TRUTH”
We Have Outnumbered them in “WISCONSIN” Do The Same in all the 49 other States. Like “Wikipedia” and “Google” Let “WE
THE PEOPLE VOTE” them Out at Second — Get Tough Now or PAY DOUBLE LATER — Dozens of more ways to Fix the Issues all start with the FIRST STEP VOTE THEM OUT The Media will Tell you Who they Are — “NO” – “NO” – “NO” – House and Senate .
Strike Three They Are OUT byee 4 now
Well PAA747atp, you’ve got a laundry-line of pinned-on misperceptions there.
Many of us have already delineated the difference between an illegal alien trespasser and an immigrant, because an immigrant is a legal part of our society, the trespassers are not. And your misconceived idea that only a judge can determine what is illegal is totally false. But I will not go into that.
You have a lot to learn about making public discourse, and one of the items you must learn is to learn facts and not jump on your mis-perceived notions. To express what you think is one thing, but to radicalize your mis-perceptions as though it is truth is a fault. Your fanatacism can be put to better use by becoming logical thinking before you write.
On the other hand, AFDC recipients (parent and child) were getting by on well under $6,000 total benefits annually, and Wisconsin insisted they were living in lazy luxury.
Republican candidates: the Looney, the Bad, and the Ugly.
$49,445 sounds more like median annual FAMILY income — not (unfortunately) the median annual wage for one person.
The annual US median wage is $26,363 — as reported by Harold Myerson — which if you divide by 2080 working hours (you would probably need to factor in how many full or part time jobs was average, etc. — this is the best my non-expert self can figure), today’s US median wage comes in at $12.68/hr — about where it probably was in 1968! The US median wage is reported at about $14/hr in 1973 — the year wages stopped keeping up with productivity increases; or regressing — in the book “The State of Working America 2008/2009″, p. 134, table 3.5.
http://www.prospect.org/article/what-americans-make
http://www.amazon.com/State-Working-America-2008-2009/dp/0801474779/ref=sr_1_3?s=books&ie=UTF8&qid=1326987915&sr=1-3
Look up president LBJ’s 1968, $1.60/hr minimum wage on the BLS inflation calculator (which uses CPI-U — the most broadly accepted inflation index) and you get just short of $10.50/hr — in 1968! Look up senate majority leader LBJ’s 1956 minimum wage (he snuck it through the chamber when the opposition was out — senator Hubert Humphrey wanted $1.25/hr — in 1956!) and you get just over $8.25/hr!
http://data.bls.gov/cgi-bin/cpicalc.pl
Look up Census historical income tables (historical > people > all races) and you get $15,000 per capita income in 1968 — $28,500 in 2006 (before the bottom fell out). 2012′s federal minimum wage is over $3/hr lower — almost double the average income later.
http://www.census.gov/hhes/www/income/data/historical/people/
The answer to all this is legally mandated, sector wide labor agreements, the only labor market setup that produces both a fair labor market — and fair political forum because labor is effectively organized — everywhere it is used world-wide in the decades since WWII — back when it was instituted to avoid an organized labor “race to the top” in Europe so more money could go to rebuilding — prevents the race to the bottom just as well (Wal-Mart closed 88 big boxes in Germany where it could not compete paying the same as everyone else). If you want to read more about sector-wide Google it — it’s mostly my (frantic) posts; nobody else discusses it (most economists not being as poor as retired cab drivers).
Please Google: “sector wide labor agreements.”