As Rick Santorum said about Mitt Romney’s income, “Congrats to him, that’s a lot of money.”
Over the last two years, Romney has averaged over $20 million a year. That puts him in the upper echelons of the 1%. All indications are that Romney has paid his taxes and worked diligently and intelligently to get his fortune. The problem is if all that cash floating around his life puts him in touch enough with real Americans to understand their problems.
The Romney household averaged $21,285,000 over the last two years. The average American household lived on $49,445. Even if that income is accumulated over a working career of 45 years, the average American household would only have $2,225,025 to live on.
Congrats to Mitt Romney for a wildly successful life as a businessman, but it’s probably been thirty years since he had to worry about making the mortgage payment that many Americans sweat about every month.
Some people might think that anyone who can be as successful at making a buck is the man for our depressed economic times. Others, myself included, wonder if anyone living in that wealth is the right man to understand the troubles the average American faces.
Mitt Romney once offered a $10,000 bet with Rick Perry during a debate. That would be close to 20% of an average household’s income. Romney’s $10,000 is like the average American making a $25 bet. That’s doable and something nearly everyone of us has done when we felt we were right. Of course, 20% of Romney’s income would be well over $4 million. I kind of doubt he would toss that amount into a bet. It goes to show what a dollar means to Romney and what a dollar means to the average Joe and Jane.
Make what you will of this chart, but it is the facts.