Wednesday, January 18, 2012

Romney Makes Campaign Gaff, Says $374,372 to Give Eight Speeches is Not Much Money

Under pressure to release his tax returns, yesterday on the campaign trail Mitt Romney said that his effective tax rate was about 15%, a rate much lower than many working men and women, but is a rate that reflects long term investments.
Mitt Romney
Fortunately for ex-Massachusetts Governor, the focus on his tax returns and the tax rate he pays is diverting attention from a far more damaging statement.  Romney said that, in addition to investment income, he also gets "speaker’s fees from time to time, but not very much.”   In fact, in the most recent year, Romney made $374,327.62 in speaker’s fees, at an average of $41,592 per speech, according to his public financial disclosure reports.

Americans have no problem electing wealthy men and women to office. What they balk at though is electing candidates who they believe do not understand the plight of average Americans, especially when the country remains mired in a recession.  Romney with one speech makes just under the median American household income of $46,326.  With just eight speeches he matches several years of income for ordinary folks.  Yet he considers that to be "not very much" money?

For a smart man, Mitt Romney can be incredibly stupid at times.  He might get a pass in Republican circles for such ill-advised comments.  But when he goes to the general election round, his tin ear when it comes to the economic plight of average Americans will be an albatross hanging around the nominee's neck.  As I've said, Romney

He's unlikely to get a pass from the American people when he is the nominee and is squaring off against President Barack Obama.


Cato said...

What he makes in a 40-minute speech is more than most Americans earn in an entire year.

He's as aloof as Quayle looking at a development over 100K homes (early 90's dollars) and calling them "starter homes."

Downtown Indy said...

Romney is a sorry excuse for a presidential candidate. I get the distinct vibe anytime that he's speaking that he's reciting what he thinks the listener wants to hear rather than what he truly believes.

His hemming and hawing in the last debate, when asked about releasing his tax statements, illustrates he simply cannot formulate a coherent answer when he's not already rehearse one.

Even his appearance while speaking gives him away, I think. He seems to be gazing off into thin air, like he's viewing some invisible teleprompter.

Gary R. Welsh said...

The big item overlooked in Monday night's debate was Romney's admission he paid federal taxes primarily at the lower 15% federal tax rate. When he gets around to releasing his tax returns after he has already secured the nomination, the Democrats will play up the divide between haves and have nots in this country to the max. It does bother many people like myself to think that he pays at a much lower rate than us when we earn a small fraction of what he earns.

Pete Boggs said...

The liberty minded won't begrudge those earning investment or dividend income. It's intoned disconnection or Mitt wit comments that are problematic.

M Theory said...

Ron Paul will accept only $39,000 per year to be President. That's less than Romney gets for one speech.

Ron Paul elected to take less pay in response to what the average American earns.

Paul K. Ogden said...

Gary, I disagree. I think the think that really hits with Americans is that he thinks making $40K to give a 40 minute speech is somehow not money. The tax rate issue has some resonance, but I'm not sure as much. A lot of older people who have passive income only pay 15% tax rate.

Paul K. Ogden said...


I have absolutely no problem with a public servant accepting all the salary for that position. I am more worried about people who accept those positions suggesting they'll work for free. We taxpayers pay a price for that.

patriot paul said...

In terms of his $250,000,000.00 worth, no wonder he views speech income as not very much. Evidence here of being out of touch not to mention that broadcasting his remark was a politically stupid P.R. blunder.

Unknown said...

There have been a rise in tax scams in modern years and this year is no exclusion. All these scam artists out there are gathering our sensitive facts to nab our refunds with false tax returns. What's even scarier is that all these crooks require is a pc and a database of email addresses. The victim typically has no idea who did and it's practically impossible to track. I'd read up on the material and safeguard yourself.