It’s no secret that many members of the U.S. House and Senate are millionaires — 47 percent of them — their salaries paid for by the American taxpayer.
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 Center’s research.
“Despite the global economic meltdown in 2008 and the sluggish recovery that followed, that’s 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.”
17 comments:
This statistic makes me worry about some of the decisions made in the house and Senate. I find it a little unfair that 47% of these members are millionaires, and making decisions for the entire country, when only 1% of Americans are in the same or similar financial situations as them. It's just not the most efficient scenario.
Congress is being paid too much. Yes, they need a large amount of money to fulfill certain requirements of being a Congressman but at the same time, the amount that they are currently being paid is overkill. If they were to maintain a stricter budget and not spend too much money on extraneous items to increase their pleasures. By cutting back on personal spending, the money that would have gone to them can be used more efficiently in other sectors of the US infrastructure.
It seems like the times of public servicemen that actually work for the sake of their people are as antediluvian as the times of morality in America.
After doing some additional research, I found that the highest net worth of a congressman is almost half a BILLION dollars. Darrell Issa from California can do whatever he wants, when he wants, how he wants. That is incredible. I also found that 24 congressman have a negative net worth: their liabilities outweigh their assets. I don't know if I want those kind of people representing me.
After doing some additional research, I found that the highest net worth of a congressman is almost half a BILLION dollars. Darrell Issa from California can do whatever he wants, when he wants, how he wants. That is incredible. I also found that 24 congressman have a negative net worth: their liabilities outweigh their assets. I don't know if I want those kind of people representing me.
It amazes me that so many of our politicians handle their money well enough that even through an economical slump they still come out on top. Yet at the same time, our country cannot seem to get a grip on our ever growing dept. If our congress men are rolling in dough, then why should our country be drowning in IOU’s. Even in this debt, we still continue spending out of an income that will not sustain this type of over expenditure. There is something very wrong when those who handle this our nations income are living in great financial comfort from tax-payer’s dollars while our country cannot seem to be able to drag enough money out of us.
The huge difference in money between the Congress members and their constituents is understandable because of the Congress members' larger amount of work, more work experience, and greater significance in the US and its government. However, it would be helpful and generous of them to donate some of their money to their constituents or to beneficial organizations. The constituents, on the other hand, need to work hard and be safe and healthy to get a good job and move up in life, and deal with the unfairness in life.
While I don't agree with the "99%" movement I can see why they may feel the need to bring things like this to the attention of the american people. While their initial intentions may have been pure in wanting to take big buisness influence out of the government they have been so twisted and skewed that not many even know what they actually support anymore, however articles like this really show why they were so mad in the first place.
I already thought many members of congress were wealthy, but the fact that so many of them are millionaires is pretty surprising. It appears that when our representatives and senators fight tax hikes for the wealthy that they are acting in their own interest and not in the people's general interest.
This story actually makes me a bit angry. There are hundreds of thousands of people in America living paycheck to paycheck, some losing homes, and some losing their jobs and Income in this awful economy yet these big wig congress members who are representing these people are sitting pretty. These congress member's salaries are paid for by the american people's tax money, the same americans who can hardly make it on their own. Maybe these congress members salarys should be cut back abit to help these people they represent.
They should not be millionaires! it isnt fair to the American people to be paying congress this much, our tax dollars can go to other things like EDUCATION or perhaps HEALTH CARE not paying congress' salary, :)
I think this is related to another article on this blog that says "money follows popularity" meaning that congress people can get donations for appearing to do a good job. Another thing to consider is that money will also follow attributes such as charisma and intelligence. So if you think of it in reverse you might find that having unsuccessful or moderately successful people in congress might mean that they are less skilled than another option. And although congresspeople have access to market secrets to get an edge on other investors the people who gain money from these situations usually have a good deal of money already. But if such information is being exploited it is corruption and should be treated as such.
this is why america is in so much debt. and also why they wont tax the rich more. the representation should be more equal in congress.
It's NOT fair that the American taxpayer is footing the bill for the salaries of those in Congress. Most of that money could be used to help individuals or groups of citizens that REALLY need it. Instead, it's going into the pockets of those in Congress. Something should be done about this that makes the members of Congress not have such a ridiculous payday. When the country was in economic turmoil, they were STILL profiting from that and left others in the dust to try to put food on the table for their families. Incredibly enough, their constituents are suffering while they're not. Isn't it their job to make sure that their constituents are well cared for since the helping of one's constituent is a key part of representative government?
It's hard to represent millions of people from your district that are struggling with things that you are actually doing quite well with. The majority of people actually don't make a lot of money, most no where near million dollar salaries, and are asking to get rid of the large scale wealth spreads. This is a good reason to why the reaction to the 99% has been what people have wanted it to be.
I think all of our members of congress should be required to use the money they are paid while being in office to support themselves. Most people are required to use the money we earn to feed our families, pay for our living expenses plus any other expenses that we incur. Politicians are paid to be in office and that should be the income they use for all of their fees. Then maybe they’ll see how the common person lives and how hard it is to make ends meet.
I think it is wrong that all of these politicians are enjoying the good life with all of the tax payers money. While on the other hand the economy is sufferig. Yes they do pay a crucial role in helping rebuild the economy, but shouldnt they be using less money on personal expenses, and more doing the jobs they are supposed to. So much of the House and Senate should not be part of the one percent tha make up the worlds richest.
Post a Comment