Skip to main content

Ann and Mitt Romney
If you really loved your kids, you'd invest $10 million in their private equity funds. (Jeff Haynes/Reuters)
When Mitt Romney recently told college students to "Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business," telling them about a friend who'd borrowed $20,000 from his own parents, many observers responded "borrow what money from our parents? Our parents don't have $20,000 to lend us." But of course that's the kind of thing that doesn't occur to Mitt Romney, because $20,000 is such a laughable pittance to him. Even when Mitt Romney considers that there are people who would need to borrow from their parents, not having a stock portfolio to draw on, he just assumes that it's a reasonable amount for parents to lend their children. It is just two casual bets for him.

It's also just 0.002 percent of what Mitt and Ann Romney invested in son Tagg's little start-up company. The $10 million the Romneys put into Solamere Capital, a private equity fund started by Tagg and two partners in 2008, came through Ann's blind trust, once again forcing us to pause for laughter between "blind" and "trust." The Romneys didn't only provide direct funding, either. Many supporters of Mitt's then just-concluded 2008 presidential race put money into Tagg's fund.

The issue is not even that Mitt Romney doesn't care about the poor. He probably doesn't, but that question is irrelevant against the larger issue that he really doesn't get that economic struggle is distinct from living off your stock portfolio, that parents who love their kids every bit as much as he loves his can't even pay their college tuition, let alone then lend them $20,000 to start a business. These are the assumptions he'd bring to being president, around which he'd shape policy. And there's literally no place in them for 99 percent of America.

Originally posted to Laura Clawson on Tue May 01, 2012 at 07:43 AM PDT.

Also republished by Daily Kos.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site