Presidential Candidates? Few Are the 99 Percent

[alp227]

Occupy Wall Street protesters have touched a nerve with their slogan, “We are the 99 percent.” It has focused attention on the ground gained by the rich even as a brutal economy has pushed the typical American family backward. Economic inequality may or may not become a central issue in the presidential race, but the candidates have at least one reason to hope it does not.

A look at the finances of those vying for the presidency shows that almost all of them rank at the very top of the country’s earners. In other words, they are the 1 percent.

The possible exceptions are Representative Michele Bachmann of Minnesota and Representative Ron Paul of Texas, whose annual household earnings may not exceed the estimated cutoff of $700,000 for the top 1 percent, and Gov. Rick Perry of Texas, who has yet to file a financial disclosure.

Buddy Roemer, the former governor of Louisiana, probably does not make the cut either, which may be one reason Mr. Roemer paid a visit to the protest encampment in Zuccotti Park in Manhattan to express his solidarity.

But Mitt Romney, whose fortune, totaling as much as a quarter of a billion dollars, dwarfs those of his rivals; Jon M. Huntsman Jr., whose father owns a global chemical company; Newt Gingrich, a successful author; Herman Cain, a businessman who reports earnings of over $1.2 million; and Rick Santorum, the former senator, who took in over $700,000 last year, are all solidly in the 1 percent, as measured by assets, income or both.

The wealth is not limited to Republicans. Though President Obama was not in the 1 percent in 2006, before his entry to presidential politics, he earned between $1.8 million and $6.8 million last year, largely from book royalties.

full: http://www.nytimes.com/2011/10/29/us/politics/most-presidential-candidates-are-not-the-99-percent.html

[craticdemo]

1. so they make 700000- $1, then?