Romney: Big business is 'doing fine'

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Associated Press

Posted on August 23, 2012 at 7:30 PM

Updated Thursday, Aug 23 at 8:31 PM

MINNETONKA BEACH, Minn. (AP) — Republican presidential candidate Mitt Romney says big business in the U.S. is "doing fine" in most places.

Romney's assertions resembled President Barack Obama's remarks earlier this summer that the private sector "is doing fine." Republicans pounced on Obama's comments, saying they proved he was out of touch with the nation's economy.

Speaking to donors Thursday near Minneapolis, Romney said he would focus on helping small business succeed.

Romney says large businesses succeed in part because they can better manage government regulations and because they put money in "low tax havens around the world." Romney has faced criticism from Democrats for placing some of his personal fortune in offshore accounts.

Romney spoke to more than 300 people at a reception at which tickets ranged from $2,500 to $50,000 per person.

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