By Deroy Murdock
Thursday, October 18, 2012
Top Democrats do not just disagree with Republican
nominee Mitt Romney. They consider him a loaded, multiple-house-owning son of
privilege unfamiliar with the common man.
At last week’s running-mates’ debate, Vice President Joe
Biden suggested that Romney is “going to continue to focus on taking care of
only the very wealthy.”
“Mitt Romney just doesn’t get it,” San Antonio mayor
Julian Castro told the Democratic National Convention in September. “He just
has no idea how good he’s had it.”
Writing for The Daily Beast, veteran Democratic campaign
strategist Robert Shrum called Romney “awkwardly oblivious to the concerns of
everyday life and reflexively committed to comforting the comfortable.”
But big bucks are a problem only for Republican
presidential candidates. Among liberal politicians, activists, and journalists,
rich Democrats who run for president are just like the cable guy.
The Media Research Center (MRC) discovered that, between
January and April, ABC’s and CBS’s evening news shows covered Romney’s
affluence 13 times more than that of Senator John Kerry (D., Mass.) during the
analogous period in 2004, when he challenged President G. W. Bush. (MRC found
no equivalent mention of Kerry’s finances on NBC Nightly News.) Never mind that
Kerry is far wealthier than Romney. Massachusetts’s senior senator — who
avoided $507,500 in Bay State taxes by mooring his 76-foot yacht, the Isabel,
in Rhode Island — personally has $240 million, according to Forbes magazine,
and his ketchup-heiress wife, Teresa Heinz Kerry, controls another $500 million
to $1 billion — including a private jet called The Flying Squirrel. Thus, the
2004 Democratic nominee’s household contains at least $740 million, more than
triple Romney’s reported net worth of $230 million.
Regardless, Kerry is a man of the people. “From
trapshooting to windsurfing to cycling,” CBS’s Byron Pitts said on July 23,
2004, “this New England patrician is doing his best to be an average guy.”
Meanwhile, ABC News last February called Romney a
“wealthy businessman out of touch” with regular folks. He gets scarce credit
for making his own fortune rather than relying on his father’s auto-industry
money. Instead, Romney donated that entire inheritance to Brigham Young
University’s Marriott School of Management. Romney’s critics have lampooned his
jet ski and the proposed car elevator at his vacation home in La Jolla, Calif.
NBC’s Brian Williams has called Romney’s riches “unimaginable.” Liberals even
mocked Ann Romney’s horse Rafalca in the London Olympics’ dressage competition
— even after she revealed that she pursued equestrianism to alleviate her
multiple sclerosis!
“Attacking Romney’s wealth has been one of the major ways
the media have covered this campaign,” says MRC’s Dan Gainor. “It’s all just
another way to depict Romney as out of touch and different from the rest of us.
I wonder how many reporters realize that Obama is also a millionaire.”
Gainor correctly identifies this double standard. Obama
reputedly is just a regular Joe who struggled to the top and yet remains
rank-and-file. Actually, Obama is a product of Hawaii’s exclusive Punahou
Academy. He graduated from Columbia University, edited the Harvard Law Review,
and taught at the University of Chicago Law School. Obama scored $441,369 in
book royalties last year. His 2011 joint tax return showed adjusted gross income
of $789,674 (down from $1,795,614 in 2010). This is nearly twelve times the
median AGI of $66,566 for couples filing jointly in 2009, as the latest IRS
data indicate. Time magazine estimates that Obama has $5 million.
Unemployment remained trapped above 8 percent for 43
consecutive months after Obama’s inauguration (dipping to 7.8 percent only last
month). Nonetheless, Obama thrice has summered in Martha’s Vineyard, one of
America’s poshest playgrounds. Unlike Jimmy Carter, who enrolled his daughter
Amy in government school, Obama sends his two girls to Sidwell Friends,
Washington’s most elite private school. He also has golfed at least 104 times
while president. Regardless, Obama’s cheerleaders remain eerily silent about
his upscale ways, preferring instead to ridicule Romney as some sort of British
lord, right out of Downton Abbey.
Obama and his campaign website have slammed Romney for
placing money in companies in China and the Grand Caymans. At Tuesday night’s
presidential debate at Hofstra University, Obama said that “Governor Romney
invested in companies that were pioneers of outsourcing to China and is
currently investing in countries — in — in companies that are building
surveillance equipment for China to spy on its own folks.”
Romney responded by asking Obama if he checks his pension
fund.
Obama replied: “I don’t look at my pension. It’s not as
big as yours.”
If Obama looked for a while at his pension, he would
learn that he has between $50,000 and $100,000 in the State of Illinois General
Assembly Defined Benefit Pension Plan. The Illinois State Board of Investment,
which manages this fund, has pumped $2 billion of this money into foreign
companies, including at least 59 enterprises in the People’s Republic of China
— some of them state-owned businesses. Among these companies: Air China, Angang
Steel Co., China Blue Chemical, China Coal Energy Co., China Oilfield Services,
and China Pharmaceutical Group. Obama’s pension also is invested in a
private-equity fund called Advent International. It is based in the Grand
Caymans.
Obama’s small-size-doesn’t-matter argument is rather
puny. While Romney’s blind trust (which, by definition, he does not control)
may have more money in Chinese and Grand Caymans assets, Obama’s claim to being
just a little bit pregnant does not inoculate him from having a small Chinese
bun in the oven. (And one from the Caymans, too.)
President Obama is just the latest Democrat to get away
with being rich. Consider these other multi-millionaire “men of the people.”
- John F. Kennedy
was America’s richest president, ever. Last February 9’s Time magazine measured
every chief executive’s wealth. In 2010 dollars, JFK had $1 billion to his
name, nearly double George Washington’s $525 million, and far more than the $60
million belonging to FDR, a liberal neo-deity and father of the New Deal. JFK’s
youth, vigor, and wit remain ballyhooed. His billionaire status is a non-issue,
as is its source: his father’s alleged Prohibition-era rum-running.
- Lyndon Baines
Johnson had $98 million. Not bad for a former schoolteacher. Liberals fondly
remember LBJ’s Great Society, Medicare, and Food Stamps but forget about his
lucrative cattle ranch and broadcasting properties. Among them: KTBC-TV in
Austin, Texas, and eventually six radio stations, including KLBJ-AM and -FM.
- The late Senator
Edward Moore Kennedy (D., Mass.) failed to swipe the 1980 presidential
nomination from Jimmy Carter (who had $7 million, Time calculates) and never
became the Democratic standard-bearer. Nevertheless, Teddy still embodies
liberal empathy and generosity (with taxpayer money) toward “the little guy.”
Missing from this narrative is any mention of the family bootlegging fortune,
which contributed to his $45 million, OpenSecrets.org’s midrange estimate of
his net worth. To Kennedy’s pals on the Left, his occasionally being
photographed aboard his 50-foot yacht, Mya, demonstrated his virility, not his
plutocracy.
Romney has taken a much tougher beating than other
Republicans.
Ronald Reagan had $13 million, Time reports. However,
Democrats criticized his conservatism, not his cash, though Nancy Reagan got
hammered for favoring fine china and luxurious gowns. She did win over the
press somewhat when she satirized herself by singing “Secondhand Clothes,” to
the tune of “Secondhand Rose,” at the March 1982 Gridiron Dinner. Few if any
such slings and arrows were aimed at Teresa Heinz Kerry, Lady Bird Johnson, or
Jackie Kennedy, who was revered as the quintessence of feminine elegance until
her untimely death at age 64.
George H. W. Bush suffered a joint strike on his $23
million and his malapropisms: “Poor George,” former governor Ann Richards (D.,
Texas) famously said in 1992. “He was born with a silver foot in his mouth.”
This endless obsession with Romney’s bank account is part
of Team Obama’s relentless class warfare. Voters deserve much less focus on
Mitt Romney’s and Barack Obama’s multi-millions and many more ideas for
restoring vibrant economic growth — so every American can grow wealthier.
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