Bloomberg's Josh Barro says the video tape is an "utter disaster" for Romney.
Romney already has trouble relating to the public and convincing people he cares about them. Now, he's been caught on video saying that nearly half the country consists of hopeless losers.
Romney has been vigorously denying President Obama's claims that his tax plan would raise taxes on the middle class. Now, he's been caught on video suggesting that low- and middle-income Americans are undertaxed.
That's not all. Mr. Media Training says there are five reasons why the video hurts Romney:
1. Some of his support surely comes from people who don't pay income taxes—a group he is now at risk of alienating.
2. It undermines his pitch that he, more than President Obama, is well-positioned to care for the middle class.
3. It will encourage other discouraged conservatives to question the effectiveness of his campaign (some conservative stalwarts have publicly castigated his campaign over the past few days), and will extend the "Romney can't win" storyline.
4. The very nature of the covertly recorded video will support the narrative that he speaks one way in private and another way in public.
5. He appears to be saying that he disagrees that people should be entitled to "food," and that he doesn't worry about people who can't earn it for themselves.
You can get a hint how damaging the Romney campaign thinks the tape is. Presidential candidates don't call a press conference at 10pm on a Monday unless something truly serious happens.