Why Mitt Romney cannot represent me...

by T Tue Jun 26, 2012 12:14 pm

** 1% of the U.S. population have a net worth of $1 Million or more

** 261 Members of Congress (50%) are millionaires (it's bipartisan). While the economy has generally faltered over the past few years, congressional members actually saw their collective personal wealth increase by more than 16 percent between 2008 and 2009.

** In 2010, 15.1 percent of all persons in the United States lived in poverty. The poverty rate in 2010 was the highest poverty rate since 1993.

Single individual earning less than $11,344
Single parent - one child $15,030 - two children $17,568
Two adults - no children $14,602 - one child $17,552 - two children $22,113 - three children $26,023
SOURCE: U.S. Bureau of the Census

** Mitt Romney has accumulated assets spread across two blind trusts, IRAs and outright holdings pinpointing his net worth at $230 million [$330 million if you include the trust fund he set aside for his children], split between 9 different asset classes.

Debt Securities: +$91 million
Bain Alternative Investments: +$52 million
Other Alternative Investments: +$29 million
Mutual Funds and ETFs: +$23 million
Real Estate: +$18 million (California beach home - the one with the car elevator, Belmont, Mass townhouse, Wolfeboro, N.H. summer compound)
Cash: +$16 million
Individual Equities: +$600,000
Transportation: +$425,000
Gold: +$260,000
Romney has has set aside a $100 million dollar trust for his children
SOURCE: Forbes

Many who fall into the poverty class do not pay taxes, in fact, many receive an Earned Income Credit, and in my opinion, justifiably so. Romney feels everyone should pay taxes and would increase theirs. At the same time, Romney would cut taxes for the "Job Creators" (BTW...it is no longer politically correct to call them "wealthy").

My hard earned income places me in the lower middle class. My household income in 2011 was below the 2010 median of $49,445. The median wealth of a House member in 2009 stood at $765,010, while the median wealth for a senator in 2009 was nearly $2.38 million.

Considering Romney's (and much of Congress) 1% status, how can he possibly represent me?

He can't