In the last couple of years, we've occasionally seen stories where Wall Street types justify their enormous compensation packages by saying they work really, really hard. They stay late, they work weekends, they just keep their noses to the grindstone, and that's why they get paid what they do. Sure, $30 million a year is a lot of money. But the hedge fund manager who made it probably worked 1,000 times harder than the electrician who made $30,000. Right?
I thought of those Wall Streeters and their rhetoric about hard work when considering the question of Mitt Romney's tax returns. One of the things we've found out in the whole when-did-Romney-leave-Bain controversy is that even after he retired/went on a leave of absence, he was being paid at least $100,000 a year for doing what he swears was absolutely nothing. That's a lot of money for doing nothing, at least to people like you and me, but remember that to Mitt Romney, it's peanuts. According to the information he has released, he made over $42 million in 2010 and 2011 without doing any actual work. He hasn't held a job in five and a half years, since he left the Massachusetts governor's office. Tens of millions of dollars just keep pouring into his many bank accounts, without him lifting a finger. And of course, he pays a far lower tax rate on all that income than people who work for a living.
But it really seems that Romney has a hard time understanding why that would rankle people.