Center for American Progress Action

RELEASE: Romney declares “corporations are people” during angry confrontation in Iowa
Press Release

RELEASE: Romney declares “corporations are people” during angry confrontation in Iowa

Washington, D.C.—Today, ThinkProgress reported GOP 2012 presidential contender Mitt Romney completed a rowdy campaign stop at the Iowa state fair, before a key Republican debate tonight and an upcoming Iowa straw poll. At the end of his speech, a Q&A session quickly devolved into a shouting match during which he defended the rich, argued for cutting entitlements, and equated corporations with people. Romney told a group of angry Iowans that raising the retirement age to protect corporate tax breaks is appropriate. “Corporations are people, my friend,” he said.

The first questioner asked Romney if he would raise the cap on payroll taxes, so that the rich pay more into the system. Romney — who has a net worth of more than $200 million — said that raising the payroll tax cap for Social Security was tantamount to “attacking people because of their success.”

A second questioner asked Romney “what are you going to do to strengthen Social Security, Medicaid, and Medicare without cutting benefits.” Romney’s response, after briefly shouting at the questioner, was “I’m not going to raise taxes. That’s my answer.” The rowdy crowd at the Iowa State Fair interrupted his answers to chant “Wall Street greed.”


When it comes to raising the payroll tax to shore up Social Security, “completely eliminating the cap without increasing benefits actually creates a long-term surplus, and eliminating the cap while increasing benefits comes close.”