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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnother 47%: Percentage of Congress who are millionaires.
47% of Congress Members Millionaires a Status Shared by Only 1% of Americans
Its no secret that many members of the U.S. House and Senate are millionaires 47 percent of them their salaries paid in part by the American taxpayers.
The Center for Responsive Politics has crunched the numbers and released the results on its Open Secrets blog:
About 47 percent of Congress, or 249 current members are millionaires. In 2010, the estimated median net worth of a current U.S. senator stood at an average of $2.56 million, according to the Centers research.
Despite the global economic meltdown in 2008 and the sluggish recovery that followed, thats up about 7.6 percent from an estimated median net worth of $2.38 million in 2009 and up 13 percent from a median net worth of $2.27 million in 2008. Fully 36 Senate Democrats, and 30 Senate Republicans reported an average net worth in excess of $1 million in 2010. The same was true for 110 House Republicans and 73 House Democrats.
The vast majority of members of Congress are quite comfortable, financially, while many of their own constituents suffer from economic hardships, said Sheila Krumholz at the Center For Responsive Politics. Few Americans enjoy the same financial cushions maintained by most members of Congress or the same access to market-altering information that could yield personal, financial gains.
http://abcnews.go.com/blogs/politics/2011/11/47-of-congress-members-millionaires-a-status-shared-by-only-1-of-americans/
Its no secret that many members of the U.S. House and Senate are millionaires 47 percent of them their salaries paid in part by the American taxpayers.
The Center for Responsive Politics has crunched the numbers and released the results on its Open Secrets blog:
About 47 percent of Congress, or 249 current members are millionaires. In 2010, the estimated median net worth of a current U.S. senator stood at an average of $2.56 million, according to the Centers research.
Despite the global economic meltdown in 2008 and the sluggish recovery that followed, thats up about 7.6 percent from an estimated median net worth of $2.38 million in 2009 and up 13 percent from a median net worth of $2.27 million in 2008. Fully 36 Senate Democrats, and 30 Senate Republicans reported an average net worth in excess of $1 million in 2010. The same was true for 110 House Republicans and 73 House Democrats.
The vast majority of members of Congress are quite comfortable, financially, while many of their own constituents suffer from economic hardships, said Sheila Krumholz at the Center For Responsive Politics. Few Americans enjoy the same financial cushions maintained by most members of Congress or the same access to market-altering information that could yield personal, financial gains.
http://abcnews.go.com/blogs/politics/2011/11/47-of-congress-members-millionaires-a-status-shared-by-only-1-of-americans/
Might explain why so many of them really don't care about the middle class, the working class, the elderly and students, and the poor and disabled.
Oh, and why they believe Social Security adds to the deficit...
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Another 47%: Percentage of Congress who are millionaires. (Original Post)
KansDem
Dec 2012
OP
Angry Dragon
(36,693 posts)1. they should get minimum wage
watch the sky
(129 posts)2. or do it for free
maybe pay for their travel and living expenses - they're not royalty and the process is corrupted beyond belief
BigDemVoter
(4,150 posts)3. And if they're not already rich when they're in Congress. . . .
they get rich whoring themselves as lobbyists after they leave.
Here's to a PERMANENT ban on lobbying by former members of Congress.