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Democratics Point Out That Romney Is Part of the 1%

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Occupy Wall Street may no longer have a home in Zuccotti Park, but they did make their presence felt at the Iowa Caucus. Activists have spent time on both Republicans and Democrats, hitting candidates’ campaign rallies and protesting outside the DNC.

Despite the equal opportunity nature of OWS’s anger and their claims that both Democrats and Republicans are “in thrall to big business,” it looks like the Democrats are planning to take advantage of the movement. Their first target: Mitt Romney.

A new ad, which will begin airing in New Hampshire, takes aim at Romney’s time with Bain Capital. The candidate has presented his work with Bain as indicative of his ability to create jobs, but the new ad portrays him as another out of touch member of the 1%.

The ad opens on an aging, laid off steel worker, who, over shots of rusted out industrial equipment and other urban decay, tells the camera that he worked at a steel mill in Kansas City for 32 years. Then Romney and Bain Capital took over and laid everyone off. The commercial closes with the worker, referred to by the Washington Post as Donny Box, saying “Mitt Romney doesn’t are about jobs. He cares about money.”

Move On’s commercial does a nice job of showing the ways in which the left plans to take down Romney. The Republican’s campaign hinges on his strong business skills and the implication that only a businessman can fix the economy.

In another article the Washington Post points out that Obama can present a candidate like Mitt Romney as a predatory capitalist who earned his fortune by laying people off. Obama can then contrast Romney’s time at Bain with his bailout of GM (GM) and Chrysler (DAI), which prevented middle class layoffs.

In many ways, presenting Romney as a predatory capitalist is the logical next step from Obama’s extremely populist recent speeches.
Of course, Mitt Romney probably expected his Democratic opponents to present him as a member of the 1%, and, considering his arguably poor showing in Iowa, attacks from the left may be the least of the candidate’s worries. Still, the Move On ad does provide valuable insight into the Democratic strategy for the upcoming election.
POSITION:  No positions in stocks mentioned.