Romney Worth More Than Past 8 Pres. Combined
Get Breaking News First
MIAMI (CBSMiami) – As Mitt Romney looks to put a stranglehold on Tuesday’s Florida primary; the one question still left unanswered surrounding Romney is can someone that wealthy relate to the problems of those who live paycheck to paycheck?
Make no mistake; Romney is among the wealthiest people to ever try for the presidency.
According to the Associated Press, if you add up the wealth of the last eight presidents, from Richard Nixon to Barack Obama, then double that number; you’re finally in Romney wealth numbers.
The past eight presidents had a peak lifetime wealth (or peak so far) that totaled $118 million. Romney reported assets of up to $250 million in tax returns released this week.
Romney’s wealth is reminiscent of Senator John Kerry, who ran as the Democratic nominee in 2004. His vast wealth from his wife Teresa Heinz-Kerry, was used against him painting him as an elite who couldn’t possibly understand the needs of those without money.
Breaking it down further, according to the U.S. Census Bureau, the average U.S. household was worth roughly $120,300 in 2007 with a typical family income of $50,000. Comparing Romney to those numbers makes him roughly 1,800 times richer than the average American.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)