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.