And They’re Off: First Ads of the General Election


Swiss Bank Account: It’s just what you’d expect from a guy who had a Swiss bank account.

Today, Newt Gingrich officially suspended his campaign leaving the field clear for the two presumptive nominees Mitt Romney and Barack Obama to focus all of their attention on each other, and that they did!

The Obama camp preempted any potential Gingrich endorsement with a biting web video entitled “Newt Gingrich: Frankly, not Mitt Romney’s Biggest Supporter” (see below). Yesterday, they release a video celebrating the anniversary Osama bin Laden’s death. Now they have a video celebrating the fact that GM is still alive.

The Obama campaign responded to a salvo from the Romney campaign with their first TV commercial of the season. The ad entitled “Swiss Bank Account” is being shown in Virginia, Ohio and Iowa. The campaign also released an infographic to go along with that highlighting Mitt Romney’s assets secreted around the globe.

Mitt Romney has invested his money around the world, from the Cayman Islands to Ireland to Australia. We don’t know if he’s using these accounts to avoid paying his fair share in taxes, but we do know that in 2010, Romney’s tax rate was a startlingly low 13.9%. This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans-even a lower rate than most other millionaires.

Infographic and web video follow the jump.