Skip to comments.Congress Is Now Mostly A Millionaires’ Club (more than half are now millionaires)
Posted on 01/09/2014 2:14:55 PM PST by Zakeet
Complete Headline: Congress Is Now Mostly A Millionaires Club -- For the first time, more than half of congressional lawmakers are worth at least $1 million
Congress is loaded, if you werent already aware.
The Center for Responsive Politics analyzed the personal financial disclosure data from 2012 of the 534 current members of Congress and found that, for the first time, more than half had an average net worth of $1 million or more: 268 to be exact, up from 257 the year earlier. The median for congressional Democrats was $1.04 million and, for Republicans, $1 million even.
To calculate the net worth of lawmakers, the Center added together members significant assets, such as corporate bonds and stocks, then subtracted major liabilities such as loans, credit card debt and property mortgages.
(Excerpt) Read more at swampland.time.com ...
I think all ex-polticians should be exiled to some US territory in the south pacific, fed well taken care of, but not allowed any contact with the outside world at all.
Any Supplies should be Parachuted in....
Party of the rich.
Tax the hell out them!
and the other half are working on it
And you people at Time keep supporting them....
I hope I live long enough to p*ss on Pelosi’s grave. After I p*ss on Jane Fonda’s. And Hillary’s.
And yes, I’m a girl! ;)
All you poor dumb working stiffs out there ... yeah, you ... we feel your pain ... and that's why we deserve fat pay checks ... and lavish health care ... and lush quarters ... and exemption from the laws we enact ... so there!
Bring this up when they talk about income inequality...they have more than their fair share.
A million dollar net worth isn’t that much anymore.
I know... And I still buy at thrift stores.
only averaging a million? We have idiots for legislators. With dollars getting cheaper each day, a connected politician should have at least 5 million socked away by the time they are 40. Maybe I can sign them up for Dave Ramsey.
It will be easier for poorer candidates to win elections if the Supreme Court acts this year to repeal the current campaign-finance rules that limit donors to contributions of less than $3,000 per candidate.
Independently wealthy candidates have a distinct advantage over their poorer rivals under the current rules. Will the Supreme Court finally end this clear injustice?
I’d be curious how many of them made their money at honest jobs, and how many of them made it by sucking up pork.
This one was news to me:
Rep. Darrell Issa (R-Calif.), the chairman of the House Oversight Committee who made his millions in the car alarm business, was the richest lawmaker in Congress with an average net worth of $464 million in 2012.
I didn’t know he was richer than John Kerry.
pfft... a million? A million ain’t much. And it certainly isn’t “rich”.
I agree. But I think the real question is, what percentage of their wealth has been accumulated while in office?
A rich man might be worldly-wise and a good Congressman, perhaps even performing a charitable service. On the other hand, someone who went in poor and is now rich, is more than likely corrupt.
And he earned it himself. Unlike Kerry, who married someone rich (who didn’t earn it herself either).
Insider trading pays pretty well too. It’s good work if you can get it.
As mayor Daley explained....They took their lunch to work. (Actually none of them have ever picked up a check since they decided to run for office. And that’s the problem)
Wake up Amerika!! No politician leaves government with less than what they went in with. They also have the best advisers when it comes to investing and hiding the money. Its all about Crony Capitalism and influence, as far as they are concerned, screw the stupid public, life is good.