Many observers repeat the mantra that this is a general election problem for Romney if the attacks stick, and the only thing Republican attacks on this Bain issue will do is soften Romney up for his possible race against President Obama in the fall if he is the nominee. While that is likely true, let’s also keep in mind that this could hurt him in the Republican nomination process especially in places like South Carolina.

While many still say the Republican party’s base is that of Wall Street and corporate America and big business, the real base of the Republican Party has become much more about working class (especially white males) in rural and small town areas of the country. This is where there is a great appeal of Sarah Palin’s and Ron Paul’s populist rhetoric attacking big government and corporate corruption and Wall Street excess. This is where a big part of the anger of the Republican Party is and of the Tea Party movement.