Mitt Romney's Economy Is Not His Father's Economy

The differences between Mitt Romney and his father reflect differences in the political economy over the last 50 years.  George Romney ran American Motors and he created jobs.  He also paid 37% of his income in taxes, and he revealed his financial information when he ran for president.  His son represents the new political economy.  Mitt's income is earned by buying and selling companies, and only 15% of Mitt Romney's income is paid in taxes.  He also has been unwilling to make his financial holdings, which includes millions in foreign tax havens, public.  Mitt Romney's political economy is more like that in the "Guilded Age" in the 1920's, when great wealth was accumulated by financiers on Wall Street, who also controlled the political system.  Mitt Romney and his friends would like nothing better than a restoration of the "Guilded Age".