Does wealth matter in the presidential campaign?
(CNN) — Following weeks of questions over Mitt Romney’s personal wealth, the presumptive GOP nominee said criticism of the nation’s wealthy, including his family, would lead to economic demise.
“There are people who are trying to attack success and are trying to attack our success; that’s not going to be successful. When you attack success you have less of it, and that’s what we’ve seen in our economy over the last few years,” Romney said.
The 2012 presidential campaign has centered on debate over Romney’s wealth this summer, with President Barack Obama’s team raising concerns about the Republican’s decision to hold offshore investments and calling on Romney to release tax documents to answer any lingering queries about his financial portfolio.
The White House hopeful has firmly stated he would not release anything further than the two years worth of tax documents that he has already released and annual financial disclosure forms separately required by federal election law.
Romney, whose wealth is worth up to $256 million, has also been railed against over his tenure at the private equity firm he co-founded, Bain Capital. Democrats argue he has been misleading about when exactly he left his position as CEO at the company, saying he stayed on three years longer than he’s previously admitted-a time window, Democrats say, in which he would have overseen a period in which the company is now being criticized for encouraging the practice of outsourcing.
Along with defending his personal wealth, Romney and Republicans have strongly stood against Obama’s recent proposal to raise taxes on households making more than $250,000 per year, arguing such a move would have a negative impact on the economy and discourage growth.
“Dividing America based on who has money and who hasn’t — who is successful and who is less successful… That is not the American way,” Romney said.
He made his comments during a sit-down interview in London, with his wife Ann by his side. The former Massachusetts governor, who headed the 2002 Winter Olympic Games in Salt Lake City, was in town to attend the opening ceremony for this year’s Olympic Games.
Romney also pointed to Florida Sen. Marco Rubio, and quoted a statement the freshman senator frequently makes about class warfare rhetoric.
“I heard Marco Rubio the other day, he said, ‘You know, we were poor living in Miami, we saw these big homes across town…my parents never said to us, gee why don’t those people give to us some of what they have. They said instead, aren’t we lucky to live in a country where with education and hard work we might be able to achieve that ourselves,’” Romney said.
Democrats have especially hammered Romney over his former firm, Bain Capital. Priorities USA Action, a pro-Obama super PAC, has released multiple commercials this summer highlighting companies that failed–and their subsequent job losses–after being invested in by Bain.
“It killed us if something was not successful. If a business we started, for instance, couldn’t make it-and there were several like that-but there were several that took off in ways that we never would have imagined. There are a number of businesses that were existing businesses we wanted to make better. Most of them we did make better. Those that we didn’t, we felt terrible about,” Romney said.