Mitt Romney’s $10,000 Bet Equivalent To $6 For us

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During the GOP presidential debate this weekend, former Massachussets Gov. Mitt Romney — living up to fellow candidate former Louisiana Gov. Buddy Roemer’s claim that he “represents the one percent” — made a $10,000 bet with fellow candidate Gov. Rick Perry (TX). Watch it:

Many political commentators quickly leapt on Romney, saying that the gargantuan size of the bet was an indication of him being out of touch. But exactly how out of touch with the economic conditions of the 99 Percent is Mitt Romney?

Romney’s net worth was roughly $202 million in 2007. The same year, the median net worth for the American household was roughly $120,000. Therefore, a $10,000 bet is the same percentage of Romney’s net worth as six dollars is to the median American household.

Zaid Jilani is a Senior Reporter/Blogger for ThinkProgress.org and current editor of the 99 Percent Movement Special Topics page at the Center for American Progress Action Fund. Zaid grew up in Kennesaw, GA, and holds a B.A. in International Affairs with a minor in Arabic from the University of Georgia. Prior to joining ThinkProgress, Zaid interned for Just Foreign Policy and was a weekly columnist at The Red & Black, the University of Georgia’s official student newspaper. He is a co-editor at the Georgia-based blog Georgia Liberal and a regular on RT America’s The Alyona Show and The Thom Hartmann Show

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