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Congress Is Now Mostly A Millionaires’ Club (more than half are now millionaires)
Time ^ | January 9, 2014 | Andrew Katz

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 weren’t 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 ...


TOPICS: Crime/Corruption; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: congress; economy; millionaires; millionairesclub; politics

Crime pays!

1 posted on 01/09/2014 2:14:55 PM PST by Zakeet
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To: Zakeet

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....


2 posted on 01/09/2014 2:16:39 PM PST by GraceG
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To: Zakeet
The median for congressional Democrats was $1.04 million and, for Republicans, $1 million even.

Party of the rich.

3 posted on 01/09/2014 2:17:34 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: Zakeet

Tax the hell out them!


4 posted on 01/09/2014 2:18:03 PM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: Zakeet

and the other half are working on it


5 posted on 01/09/2014 2:23:09 PM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: Zakeet

And you people at Time keep supporting them....


6 posted on 01/09/2014 2:24:02 PM PST by Tzimisce
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To: Zakeet

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! ;)


7 posted on 01/09/2014 2:24:33 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: All

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!

8 posted on 01/09/2014 2:26:46 PM PST by Zakeet (If socialists understood economics, they wouldn't be socialists - Friedrich Hayek)
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To: Zakeet

Bring this up when they talk about income inequality...they have more than their fair share.


9 posted on 01/09/2014 2:27:15 PM PST by MichiganCheese (The darker the culture, the brighter your light can shine.)
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To: Zakeet

A million dollar net worth isn’t that much anymore.

I know... And I still buy at thrift stores.


10 posted on 01/09/2014 2:29:05 PM PST by babygene ( .)
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To: Zakeet

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.


11 posted on 01/09/2014 2:30:51 PM PST by AdSimp
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To: Zakeet

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?


12 posted on 01/09/2014 2:37:00 PM PST by Bluestocking
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To: Zakeet

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.


13 posted on 01/09/2014 2:39:59 PM PST by Cicero (Marcus Tullius)
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To: Zakeet

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.


14 posted on 01/09/2014 2:42:41 PM PST by SeekAndFind
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To: Zakeet

pfft... a million? A million ain’t much. And it certainly isn’t “rich”.


15 posted on 01/09/2014 2:43:06 PM PST by bigdaddy45
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To: babygene
A million dollar net worth isn’t that much anymore.

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.

16 posted on 01/09/2014 2:43:33 PM PST by Pearls Before Swine
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To: SeekAndFind

And he earned it himself. Unlike Kerry, who married someone rich (who didn’t earn it herself either).


17 posted on 01/09/2014 2:44:06 PM PST by bigdaddy45
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To: Zakeet

Insider trading pays pretty well too. It’s good work if you can get it.


18 posted on 01/09/2014 2:53:56 PM PST by RC one
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To: BenLurkin

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)


19 posted on 01/09/2014 3:10:40 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Zakeet

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.


20 posted on 01/09/2014 3:13:53 PM PST by Bringbackthedraft (Remember Ty Woods? Glenn Doherty ? Forgot already?)
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To: Zakeet

Half are millionaires. The other half are future millionaires.


21 posted on 01/09/2014 3:14:52 PM PST by Old Yeller ( Salvation is by grace through faith in the completed work of Jesus.)
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To: Cicero
I’d be curious how many of them made their money at honest jobs,

One of my state Reps, John Dingell, over 50 years in congress, is a multi-millionaire........

22 posted on 01/09/2014 3:16:42 PM PST by Hot Tabasco (Miss Muffit suffered from arachnophobia.....)
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To: FReepers



PLEASE Make Your Donation Today!

23 posted on 01/09/2014 3:16:51 PM PST by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: Zakeet
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.

It is not clear to me whether this calculation includes their primary residence or other real estate. Presumably it should if it includes property mortgages, but it doesn't say so explicitly.
24 posted on 01/09/2014 3:17:22 PM PST by Chad_the_Impaler
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To: Zakeet

You know what you call a politician at the bottom of the sea?...
...a damn good start!!!


25 posted on 01/09/2014 3:59:07 PM PST by comicjenius
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To: Diana in Wisconsin

That has to be the best reply I have read in 4 years.... I was only thinking that Pelosi is the type of person who, if on fire, I would not waste my time to piss on her... But I would the grave as we’ll...

These people have and are destroying this country and ALL of them need to be voted out. But then they would all live well on their ill gotten gains while people like me continue to try to find work for the last 11 months, and no, I have not taken one dime in unemployment benefits...at least I will die with my pride intact.


26 posted on 01/09/2014 4:24:02 PM PST by ssstewar
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To: Zakeet

...and this is just the money that they are actually declaring. So many of them have cheated on their taxes...who knows how much they really make.


27 posted on 01/09/2014 4:26:17 PM PST by BookmanTheJanitor
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To: Zakeet

So, TAX the hell out of them!!!


28 posted on 01/09/2014 4:53:57 PM PST by SandRat (Duty - Honor - Country! What else needs said?)
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