Mitt Romney and the 1%

New York Mag has a cover this week that will have the DNC drooling for days. Beyond the cover, the piece by Benjamin Wallace-Wells goes after Romney’s wealth and background in as a Master of the Universe.

The [“corporations are people”] incident, in retrospect, did less to peg Romney as a creature of privilege than it did to reveal something deeper. For Romney, the corporation has long been an object of a certain idealism. It is something he has spent much of his adult life—first as a management-strategy consultant, then as CEO of the private-equity firm Bain Capital—working to perfect, to strip of its inefficiencies until it might function as a perfectly frictionless economic unit.

The piece goes in-depth on Romney’s time at Bain. It may well appeal to Republican base voters and financial elites. But at a time where hundreds of city squares around America are being occupied by people objecting to the powerful control big banks have over our political process, it’s hard to see this as a real asset to Romney.

Beyond the generic assessment as Romney as a titan of industry, the consulting business Romney helped build at Bain is one that resulted in the outsourcing of countless American jobs. Helping businesses grow may be one thing, but when those businesses (like Staples) put thousands of Mom and Pop stores out of business, it isn’t exactly endearing. Peoples’ lives were destroyed to build the economy of Mitt Romney’s dreams and I’m sure plenty of those people will jump at the opportunity to tell their story to the American people as a strike against Romney.

A sophisticated analysis of wealth in America is taking place right now. Mitt Romney and the 1% are not coming out looking good from this analysis and stories which continue to define Romney by his wealth are likely to be politically devastating, at least in the context of the general election.

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