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Study: Nearly Half of Congress Members Are Millionaires

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Posted on Nov 15, 2011
Wikimedia Commons

Republican Congressman Darrell Issa is not hurting for money, according to a new study.

The shiny ideal of representative democracy starts dimming a bit when one considers factors and figures like those charted in a new study about U.S. Congress members’ personal finances. According to the Center for Responsive Politics, 249 current members are millionaires—that’s about 47 percent.

These findings are based on subjects’ 2010 financial records, and according to the center, California Rep. Darrell Issa is on top of the heap with an average net worth of $448 million! For the record, John Kerry didn’t do so badly for himself, either. Read it and weep.  —KA

OpenSecrets.org:

The Center’s analysis is based on the median values of lawmakers’ disclosed assets and liabilities.

That lofty financial status is enjoyed by only about one percent of Americans.

“The vast majority of members of Congress are quite comfortable, financially, while many of their own constituents suffer from economic hardships,” said Sheila Krumholz, executive director of the Center for Responsive Politics.

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Blueokie's avatar

By Blueokie, November 16, 2011 at 12:48 pm Link to this comment

That horrid smell coming from the Mid-Atlantic is the putrified rot coming off that
festering abscess on the Potomac.

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BrooklynDame's avatar

By BrooklynDame, November 16, 2011 at 7:20 am Link to this comment

Wow…what a surprise!  I was wondering why so many of them are out of touch
and just don’t care about their constituents!
http://borderlessnewsandviews.com/2011/10/they-dont-care-about-us/

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Shenonymous's avatar

By Shenonymous, November 16, 2011 at 7:14 am Link to this comment

One way is to equalize the playing field of candidates for office
by passing election reform and have public funding where each
candidate is prescribed to spend the same amount to get their
“qualifications” expressed to the public.  Each candidate gets the
same amount of television exposure.  Of course that won’t limit
Internet exposure but that is a dial in venue anyway and everyone
has to choose to be the recipient of political advertisements.  To
a somewhat similar degree are TV ads and one can simply turn the
dial when an ad comes on.  Personal wealth used for the purpose of gaining advantage over other candidates needs to be limited as well. 

Now the rub will be to get congressmen/women to pass such legislation. 
How can we force them to do that?  Isn’t coercion appropriate in some
cases?  If not appropriate, then useful?

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Lafayette's avatar

By Lafayette, November 16, 2011 at 5:54 am Link to this comment

ROME ON THE POTOMAC

The 1-percenters control the Senate. Who whudda thot?

2000 years after the Roman Empire and the US can’t do better in terms of its patrician state-hood?

In a word, Nope.

When wILL we ever learn that Wealth is not necessarily the first and foremost attribute of a representative to Congress. Worse yet, does anyone think that those 1-percenters care how much a cross-DC bus ride costs to the poorest who live there?

Moreover, the Republican variety are getting the sort of Health Care service that they would deny the American public at large. These are the dorks that prevented us from having a National Health Service by threatening Obama with filibustering his ObamaCare legislation to death.

Result? The private insurance companies are now richer than ever as that legislation induces people to seek health-care insurance.

Enough - the thought of it all makes one wanna puke.

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Shenonymous's avatar

By Shenonymous, November 16, 2011 at 5:51 am Link to this comment

This is not news.  It has been in the public domain for at least a
month.  I’ve posted it before that 40% of Congress are millionaires
and the rest are working on becoming millionaires. That is exactly
why legislation does not have much to do for the average income
American, and even less for those not on the income radar. Interest-
ing that only now it is coming to the attention to the journalists? 
Dooiingg! 

So then, what are we the people are going to do about it?  These people
need to be replaced as representatives of the people since they only pass
legislation that will support their own benefits.  We need to get them out
of our politics.  For surely it is OUR politics, not theirs.  It is our present
lives and future that is at stake.  We also need some litmus test to weed
out those who would run for office that has only their own self-interest
at heart.  Some political divining rod.

We need to get laws enacted that restricts Congressmen, Executive
officers (the President and his cabinet), and Supreme Court Justices from
making money besides the salary of their office and for five years at least
beyond their service of political office.  We the people must insist
through public protest that these rules of political office be passed and
enforced.

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By Rodney, November 15, 2011 at 5:47 pm Link to this comment
(Unregistered commenter)

The system is so thoroughly corrupt that we would
make Dictators and Communists blush. They are finally
saying Damn we can steal,bribe,cheat and stay in
office without the violence let’s do what they do.
And look at the money they are making off of us and
the money we can make legal and still keep the masses
poor. We have the best government that money steal
bribe and cheat.We can keep the rich rich and the
other 99% struggling. Congressmen benefit from
insider trading, campaign bribes, I mean
contributions from lobbyist. It’s robbery without a
gun. The bought and sold United States Congress.

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By berniem, November 15, 2011 at 3:40 pm Link to this comment

Over half are already with the rest soon to be! FREE BRADLEY MANNING AND TIM DECHRISTOPHER!!!!

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