First, multi-millionaire 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 $364,000 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.