US election 2012: Barack Obama and Mitt Romney accuse each other of being out of touch Mr Romney, a multimillionaire Harvard graduate, said the president is "out of touch." Mr Obama, a Harvard graduate and multimillionaire, says the same of his rival. It is unclear whether voters will believe that Mr Obama, who lives in a 132-room mansion and has an executive pastry chef, remains at one with the middle class. In the first year of his presidency he and his wife Michelle earned $5.5 million - about 110 times the average American household's income. However Mr Romney's claim this week that the president spent "too much time at Harvard" to understand voters will take some outdoing for audacity. While Mr Obama studied there for three years, Mr Romney managed four - before moving to a town just 15 minutes away, where he raised his family. After an Easter hiatus, Mr Obama will on Tuesday embark on a tour of swing states to make the case for his "Buffett Rule," forcing millionaires pay a minimum 20 per cent income tax. Mr Romney, who at the weekend was seen bodyboarding near his beachside home in California, will work towards wrapping up the Republican nomination contest in Pennsylvania later this month.