Mitt Romney: Don't Hate Him Because He's Rich

stacked coinsIs it just me or has the issue of a candidate's personal income been more important in the 2012 election than it has in years past? They've all got pretty deep pockets if you take a close look -- even Barack Obama is a very wealthy man! But Mitt Romney is very, very wealthy, and when you're the Republican front runner, that can be very, very tricky stuff. According to New York magazine, the head of the Democratic Party in Massachusetts claims Romney is worth $500 million, but a close friend of his says it could be twice that -- making Romney a billionaire. If that's true (and we need to take a big, deep breath here because it may not be), we should ask ourselves what could be worse than being a self-made billionaire? Well, how about having a dilettante for President, which is what you could call John Kerry. After all, the bulk of his income came from his wife. Ouch.

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Wealth is a relative term, according to the Wall Street Journal. The impact of the phrase, "He's a wealthy man," depends on how much money we're really talking. My guess is voters are fine with someone who has achieved a certain measure of financial freedom, but when they hear that Romney is up there with Steve Forbes and better off than George W. Bush, the chi-ching is a little harder to combat.

So, how to take the ouch out of the resentment? Well, in Romney's case, it helps that he was a tremendously successful businessman who managed a large business but who has also been an equally effective manager of the Salt Lake City Olympics and, according to all reports, his political campaign.

I just think we all need to question every twist and turn in a tight election like this year's. When one candidate is poised to be one of the wealthiest Presidents ever, class warfare makes a good campaign strategy. Consider a recent study out of Cal Berkeley, which I would say is highly suspect! It reeks of the kinds of "news" that comes out in an election year. It basically says the wealthy are more likely to cut people off with their cars! Puh-lease.

So, how wealthy are these 1 percent-ers? Very. According to Investopedia.com and the San Francisco Chronicle, Obama makes $400,000 a year and is worth somewhere between 3 to 12 million dollars. Let's hope he knows whether he has the 9 million dollar difference or not. Otherwise, this is yet another reason to vote for the money-maker who wants to be President right now -- Mitt Romney! Romney is reportedly worth $250 million, Newt is worth $6 million, and Santorum's wealth is estimated at $2.6 million. Santorum reportedly made his money doing radio shows and writing articles among other things. (Hmmm. There is hope for us bloggers of the world! Although, I suspect it was his Senate pay and investments that inched those numbers a little higher than the average journalist's.)

This post is part of a weekly conversation with our 5 Moms Matter 2012 political bloggers. Read the original question and find links to all their responses here: Does a Candidate's Personal Wealth Matter?


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