General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe combined minimum net worth of Congress jumped — up more than $150 million to $2.1 billion
Our analysis also found at least 188 millionaires about a third of Congress up from 185 the previous year
http://blogs.rollcall.com/hill-blotter/wealth-of-congress-jumps-150-million-50-richest/?dcz=
olddots
(10,237 posts)and it is the exact opposite reason a democracy will survive .
Egnever
(21,506 posts)It is much easier for a wealthy person to run.
Fumesucker
(45,851 posts)tuhaybey
(76 posts)The $150 gain was all one guy, whose wife if the heir to Clear Channel.
Note that just the 10 richest members are more than half of the total also.
Also, note that being a "millionaire" doesn't mean what it used to. Many of them are in their 70s and older. Being a "millionaire" by the time you're in your 70s basically means that you bought a modest house 50 years ago in a city and paid off the mortgage.
So, yes, it is a problem that so many legislators are wealthy. It is too big of an advantage in getting elected. But, it isn't like just being a legislator makes you rich. There are still quite a few in the House who are basically broke.